Helix Energy (NYSE:HLX) Solutions Group Inc's (NYSE:HLX) President and CEO, Owen E. Kratz, has sold a significant portion of his shares in the company, according to a recent SEC filing. The transactions, which took place over three consecutive days, amounted to a total of over $3.7 million.
The sales began on May 20, 2024, when Kratz sold 141,879 shares at a weighted average price of $11.8301, resulting in a transaction value of approximately $1.68 million. The following day, the CEO sold an additional 164,796 shares at a weighted average price of $11.7747, totaling around $1.94 million. The final sale occurred on May 22, with 7,521 shares sold at an average price of $11.5403, adding approximately $86,800 to the total proceeds from the sales.
The price range for the shares sold spanned from $11.5403 to $11.8301, with the specific prices for individual transactions varying within these limits. Investors were informed that they could request detailed information about the number of shares sold at each price point from Helix Energy Solutions Group Inc .
Following these sales, Kratz's ownership in Helix Energy Solutions Group Inc has been adjusted to 7,471,329 shares. It is important to note that within this amount, Kratz disclaims beneficial ownership of 1,000,000 shares held by Joss Investments Limited Partnership, where he serves as a general partner.
The transactions have been publicly disclosed as per regulatory requirements, and offer a glimpse into executive stock activity within Helix Energy Solutions Group Inc. Investors often monitor such sales as they may provide insights into executives' perspectives on the company's current valuation and its future prospects.
InvestingPro Insights
Amidst the recent executive stock activity at Helix Energy Solutions Group Inc (NYSE:HLX), investors are considering various metrics to gauge the company's performance and future potential. According to InvestingPro, the market capitalization of Helix Energy Solutions stands at $1.74 billion, reflecting the company's size and market value. The firm's revenue growth has been particularly strong over the last twelve months as of Q1 2024, with a notable increase of 37.28%. This growth momentum is also evident in the quarterly figures, with an 18.44% rise in revenue for Q1 2024.
Despite not having paid dividends to shareholders, Helix Energy Solutions has demonstrated a high return over the last year, with a 68.79% price total return. This impressive performance is complemented by the company trading near its 52-week high, at 94% of the peak value, suggesting investor confidence in the stock's potential. The price at the previous close was $11.77, close to the range in which CEO Owen E. Kratz made his recent sales.
InvestingPro Tips highlight that analysts predict Helix Energy Solutions will be profitable this year, which may provide further optimism for investors. Additionally, the company's liquid assets surpass short-term obligations, indicating a solid financial position for handling immediate liabilities. For investors seeking more comprehensive insights, InvestingPro offers additional tips on Helix Energy Solutions, which can be accessed with a PRONEWS24 coupon code, granting an extra 10% off a yearly or biyearly Pro and Pro+ subscription. Currently, there are 9 additional InvestingPro Tips available for Helix Energy Solutions Group Inc.
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