Central Garden & Pet Co (NASDAQ:CENT) Chief Financial Officer, Nicholas Lahanas, has recently engaged in significant trading of company shares, according to the latest Form 4 filing with the Securities and Exchange Commission. The transactions, which included both acquisitions and disposals of CENT's Class A Common Stock, took place on May 10th and May 13th.
On May 10th, Lahanas acquired a total of 12,969 shares of Central Garden & Pet Co through option exercises, with prices ranging from $22.8 to $35.216, amounting to a total transaction value of $375,019. On the same day, he also disposed of 11,237 shares as a part of the option exercise process, with the shares being withheld by the company to cover the exercise price and tax liabilities, totaling $445,659 at a price of $39.66 per share.
The most notable transaction occurred on May 13th, when Lahanas sold 30,000 shares of the company's stock at a price of $39.978 per share. This sale resulted in a total transaction value of $1,199,340.
These transactions have adjusted Lahanas's holdings in the company, which, following the sales, stood at 87,528 shares of Class A Common Stock. In addition, he holds interests in the CENTA Stock Fund in the Issuer's 401(k) Plan, which consists of shares of CENTA stock and cash.
Investors and market watchers often look at trades made by insiders such as CFOs to gain insights into the company's financial health and future prospects. However, it is important to note that these transactions can be influenced by a variety of personal financial considerations and do not always indicate the company's operational performance.
Central Garden & Pet Co, with its headquarters in Walnut Creek, California, is a leading innovator, marketer, and producer of quality branded products for the lawn & garden and pet supplies markets.
InvestingPro Insights
Central Garden & Pet Co (NASDAQ:CENT) has been under the lens of market analysts and investors alike, especially following the recent insider trading activity by its CFO, Nicholas Lahanas. To provide a more comprehensive financial perspective, InvestingPro offers several key metrics and tips that could be pivotal in assessing CENT's current market position and future prospects.
With a market capitalization of $3.14 billion, Central Garden & Pet Co is trading at a P/E ratio of 14.13, which suggests a reasonable valuation relative to its earnings. The company's revenue for the last twelve months as of Q2 2024 stands at approximately $3.31 billion, with a gross profit margin of 29.79%, indicating a solid profitability framework. Additionally, CENT has experienced a significant 1-week price total return of 12.15%, reflecting a strong short-term performance in the stock market.
Among the InvestingPro Tips, two particularly stand out for CENT: the stock is currently in overbought territory according to the Relative Strength Index (RSI), and it is trading at a low P/E ratio relative to near-term earnings growth. These insights suggest that while the stock may be experiencing heightened trading activity, its earnings outlook could still be favorable for growth-oriented investors.
Moreover, CENT has shown a high return over the last year with a 61.88% price total return, and it is trading near its 52-week high at 99% of the peak price. These metrics underscore the company's strong performance and could be a signal to investors regarding the stock's momentum.
For those interested in delving deeper into Central Garden & Pet Co's financials and future outlook, more InvestingPro Tips are available, which could further inform investment decisions. To access these additional insights, visit InvestingPro's dedicated CENT page. Remember to use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With 14 additional tips listed in InvestingPro, investors can gain a more nuanced understanding of CENT's market dynamics and potential investment opportunities.
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