Grupo Supervielle S.A. (NYSE:SUPV), a prominent Argentine financial services firm, reported a substantial share transaction in a recent filing with the U.S. Securities and Exchange Commission. On Monday, the company disclosed that the Supervielle y Familia Trust had acquired 24 million Class B shares through a fiduciary assignment, which, when combined with its existing holdings, now represents 7.03% of the company's voting rights.
This move adds to the shares already owned by the trust and is notable for the fact that the shares come with full political and economic rights. Despite this transfer, Mr. Julio Patricio Supervielle maintains the majority of the voting rights within the company, ensuring continued stability in the company's leadership.
The transaction was executed on July 2, 2024, and was formally announced on Wednesday, following regulatory guidelines. Grupo Supervielle, with a broad presence across Argentina, has its executive offices in Buenos Aires and is listed on both the New York Stock Exchange and Bolsas y Mercados Argentinos S.A. (BYMA).
The company's announcement complies with the CNV Regulations T.O. 2013, which require timely disclosure of any significant changes in share ownership that could influence the company's governance.
Investors and market watchers will be observing the implications of this share transfer on Grupo Supervielle's market performance and strategic direction. The company's leadership, particularly the role of Mr. Julio Patricio Supervielle, remains a focal point in the context of this ownership shift.
The information regarding this share transfer is based on a press release statement filed by Grupo Supervielle S.A. with the SEC.
In other recent news, Argentina-based financial services provider, Grupo Supervielle S.A., has made noteworthy strides in its ongoing share buyback program. The company reported the repurchase of its Class B common shares, a transaction that was conducted via the Bolsas y Mercados Argentinos (BYMA). The company acquired a total of 200,000 Class B shares at a price of AR$ 1,672.49 per share, resulting in a total expenditure of AR$ 334,498,164.85.
These recent developments underline Grupo Supervielle's ongoing efforts to navigate the financial landscape and potentially increase the value of remaining shares.
InvestingPro Insights
Grupo Supervielle S.A. (NYSE:SUPV) is not only making headlines with its recent share transaction but also showing compelling figures in its financial performance. With a market cap of $849.2M, the company is trading at an attractive earnings multiple of 5.38, according to the latest data. This low P/E ratio, compared to the adjusted P/E ratio of 7.84 for the last twelve months as of Q1 2024, suggests that the stock could be undervalued.
InvestingPro Tips indicate that Grupo Supervielle is a prominent player in the Banks industry and has experienced a high return over the last year, with a 105.16% price total return. Moreover, the company has seen a large price uptick over the last six months, boasting a 96.02% return in that period. These metrics are particularly relevant for investors looking to assess the company's recent market performance and potential for continued growth.
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