Jonathan W. Byers, Chief Financial Officer of Flowco Holdings Inc. (NASDAQ:FLOC), recently made a significant purchase of company stock. On January 17, Byers acquired 12,000 shares of Class A Common Stock at a price of $24 per share, totaling $288,000. The purchase comes as the stock trades at $29.42, with InvestingPro analysis indicating significant undervaluation compared to its Fair Value.
In addition to this purchase, Byers also received 50,208 restricted stock units (RSUs), which are set to vest on the third anniversary of the grant date. These RSUs will vest earlier if there is a change in control of the company. The acquisition of these shares increases Byers' total holdings to 62,208 shares, demonstrating his continued confidence in the company's prospects. InvestingPro data shows the company maintains strong liquidity with a current ratio of 3.43, while additional ProTips highlight promising financial indicators. Unlock full analysis and more insights with an InvestingPro subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.