In a recent transaction, Tidewater Inc. (NYSE:TDW) executive David E. Darling, who serves as the company's EVP, COO, and Chief HR Officer, sold 25,127 shares of the company's common stock. The sale was executed at a weighted average price of $109.009 per share, resulting in a total value of approximately $2.739 million.
The transaction took place on May 7, 2024, with prices of the individual trades ranging from $107.52 to $111.37. Following this sale, Darling's remaining holdings in Tidewater Inc. amount to 53,114 shares of common stock.
Investors typically monitor insider transactions like these for insights into executive sentiment regarding their company's stock. The sale of a significant amount of shares by a top executive might draw attention from the market, although the reasons for such transactions can vary widely.
Tidewater Inc., headquartered in Houston, Texas, operates in the water transportation industry and is known for providing offshore service vessels and marine support services to the global energy industry.
For those interested in the specifics of the transaction, the company, upon request, has undertaken to provide full information regarding the number of shares sold at each price point to either the SEC staff, security holders, or the issuer itself.
As of the latest reports, Tidewater Inc. stock is publicly traded on the New York Stock Exchange under the ticker symbol NYSE:TDW. Investors and analysts will continue to watch the company's performance and any further insider transactions closely.
InvestingPro Insights
Following the recent insider sale by EVP, COO, and Chief HR Officer David E. Darling, Tidewater Inc. (NYSE:TDW) remains a subject of interest in the investment community. With a market capitalization of $5.64 billion, the company's stock is trading at a high earnings multiple, with a Price/Earnings (P/E) ratio of 41.67 and an adjusted P/E ratio for the last twelve months as of Q1 2024 at 47.32. This suggests that investors are willing to pay a premium for Tidewater's earnings potential.
An InvestingPro Tip indicates that Tidewater Inc. has seen a high return over the last year, with a year-to-date price total return of 48.34% and a staggering 128.42% return over the past year. This impressive performance is further underscored by the company's revenue growth, which has increased by 54.82% in the last twelve months as of Q1 2024.
Furthermore, Tidewater's financial health appears robust, with liquid assets surpassing short-term obligations, and the company operating with a moderate level of debt. This financial stability may provide some reassurance to investors concerned about the insider sale. Additionally, the company's Price/Book ratio for the last twelve months as of Q1 2024 stands at 5.35, which, alongside the high earnings multiple, may reflect investor confidence in Tidewater's asset value and future growth prospects.
For investors seeking a deeper analysis and more InvestingPro Tips, there are 14 additional tips available at https://www.investing.com/pro/TDW. These insights could be particularly valuable for those considering Tidewater as part of their investment portfolio. Moreover, by using the coupon code PRONEWS24, investors can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, providing access to a wealth of investment data and expert analysis.
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