Helix Energy (NYSE:HLX) Solutions Group Inc (NYSE:HLX) director Diana Glassman has sold 2,864 shares of the company's common stock at a price of $10.495, according to a recent SEC filing. The transaction, which took place on June 20, 2024, resulted in a total value of $30,057.
The sale by the director comes as part of the routine disclosures required by company insiders. Following the transaction, Glassman still holds 42,133 shares of Helix Energy Solutions Group. The sale was signed off by Ken Neikirk, acting by power of attorney, as per the document filed with the SEC.
Helix Energy Solutions Group, based in Houston, Texas, operates in the oil and gas field services industry and is known for providing specialty services to the offshore energy industry, with a focus on well intervention and robotics operations.
Investors often monitor insider transactions as they can provide insights into the company's performance and insiders' perspectives on the value of the stock. The share price at which the sale occurred can also be indicative of the insider's view of the stock's value.
The stock trades on the New York Stock Exchange under the ticker symbol NYSE:HLX and has a diverse range of operations within the energy sector, including well intervention, robotics, and subsea construction.
The SEC filing provides transparency for investors and allows them to see the actions taken by company insiders in real-time. It is a routine part of the financial disclosures companies must make, and while it does not necessarily indicate any underlying issues with the company, it is information that can be factored into investment decisions.
InvestingPro Insights
Helix Energy Solutions Group Inc (NYSE:HLX) has been navigating a dynamic market, with recent insider activity drawing the attention of investors. As we consider the implications of director Diana Glassman's stock sale, it's worth noting the broader financial context of the company as provided by InvestingPro.
With a market capitalization of $1.6 billion, Helix Energy Solutions Group is a significant player in the oil and gas field services industry. The company's revenue has shown impressive growth over the last twelve months as of Q1 2024, with an increase of 37.28%, and a quarterly revenue growth in Q1 2024 of 18.44%. Despite not being profitable over the last twelve months, analysts predict that the company will turn a profit this year, which aligns with an expected net income growth.
InvestingPro Tips highlight that Helix Energy Solutions Group operates with a moderate level of debt and has liquid assets that exceed its short-term obligations, suggesting a stable financial position. However, the company suffers from weak gross profit margins, currently standing at 15.33%, which may be a point of consideration for investors.
Stock price movements have indeed been quite volatile, with a 1-month price total return showing a decline of 10.2%, yet the 1-year price total return exhibits a significant gain of 51.65%, reflecting a high return over the last year. This could suggest that despite short-term fluctuations, the company has been performing well over an extended period.
For those interested in a deeper analysis, there are additional InvestingPro Tips available at https://www.investing.com/pro/HLX, providing more insights into Helix Energy Solutions Group's performance and prospects. Investors can also utilize the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, which includes access to a comprehensive list of tips to guide your investment decisions.
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