In a recent transaction, John Garrett DeLuca, the Chief Financial Officer (CFO) of Envela Corp (NYSEAMERICAN:ELA), purchased shares of the company's common stock. On May 16, 2024, DeLuca acquired 225 shares at a price of $4.5999 per share, totaling approximately $1,034.
This purchase increases DeLuca's direct ownership in the company to 1,346 shares of common stock. Envela Corp, listed under the retail-jewelry stores industry, operates with a standard industrial classification code of 5944.
The acquisition of shares by a company's CFO is often seen as a sign of confidence in the company's financial health and future prospects. While individual transactions may not necessarily indicate a broader trend, they are still noteworthy events for current and potential investors to consider.
The details of the transaction were disclosed in a Form 4 filing with the Securities and Exchange Commission, which provides transparency into the buying and selling activities of a company's insiders. These filings are a routine part of compliance with SEC regulations and offer investors a glimpse into the actions of company executives and other insiders.
Envela Corp has its business and mailing address at 1901 Gateway Drive, Suite 100, Irving, TX, 75038, and can be reached by phone at 972-587-4049.
InvestingPro Insights
Following the recent share purchase by CFO John Garrett DeLuca of Envela Corp, investors may be interested in a deeper dive into the company's financials and performance metrics. According to real-time data from InvestingPro, Envela Corp has experienced a notable decline in revenue over the last twelve months as of Q1 2024, with a decrease of 12.62%. Despite this, the company maintains a relatively strong gross profit margin of 25.08%, indicating a solid ability to control costs relative to sales.
InvestingPro Tips highlight that while analysts anticipate a sales decline in the current year, Envela Corp's cash flows can sufficiently cover interest payments, and its liquid assets exceed short-term obligations. This suggests that the company is managing its finances prudently, with a moderate level of debt and a capacity to meet its immediate financial obligations.
From a valuation standpoint, Envela Corp's P/E ratio stands at 16.07, which may offer some insight into how the market currently views the company's earnings potential. Additionally, the PEG ratio of -1.96 could suggest that the company's earnings growth is not keeping pace with its P/E ratio.
For investors seeking more comprehensive analysis and insights, there are additional InvestingPro Tips available at https://www.investing.com/pro/ELA. By using the coupon code PRONEWS24, users can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, which includes further detailed metrics and tips to inform investment decisions.
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