Christopher J. Reading, Chairman of the Board and CEO of U.S. Physical Therapy Inc. (NYSE:USPH), has sold a total of $212,473 worth of company stock, as revealed in recent filings with the Securities and Exchange Commission. The transactions took place over two consecutive days, with shares being sold at prices ranging from $100.13 to $102.13.
On the first day of transactions, Reading sold 1,100 shares at an average price of $102.13, while the following day saw a sale of 1,000 shares at an average price of $100.13. According to the footnote in the filing, the shares were sold in multiple transactions at varying prices within the stated ranges. The weighted average prices reported reflect the aggregation of these transactions.
Following these sales, Reading's direct ownership in U.S. Physical Therapy Inc. stands at 98,738 shares. The filing also includes a note regarding additional restricted stock units that are set to lapse in the future, contributing to Reading's overall stake in the company.
Investors often monitor insider transactions such as these for insights into executive sentiment regarding their company's stock. While the reasons for these sales can vary and are not disclosed in the filings, the disclosed transactions provide a transparent account of the chairman and CEO's trading activities.
U.S. Physical Therapy Inc., headquartered in Houston, Texas, operates clinics across the United States, providing outpatient physical therapy services. The company's stock is publicly traded, and these transactions are part of the regular disclosures required by company insiders.
InvestingPro Insights
Amidst the news of Chairman and CEO Christopher J. Reading's stock sale, U.S. Physical Therapy Inc. (NYSE:USPH) continues to present a complex financial picture. An InvestingPro Tip highlights that USPH has raised its dividend for 3 consecutive years, indicating a commitment to returning value to shareholders. Additionally, analysts have grown more optimistic about the company's earnings, with 3 analysts revising their earnings estimates upwards for the upcoming period, which could signal confidence in the company's growth trajectory.
Delving into the real-time financial metrics provided by InvestingPro, USPH has a market capitalization of approximately 1500M USD and is trading at a high earnings multiple with a P/E ratio of 62.09 for the last twelve months as of Q1 2024. Despite this high valuation, the company maintains a solid dividend yield of 1.76%, which may appeal to income-focused investors. Furthermore, USPH has demonstrated revenue growth of 7.35% over the last twelve months, showcasing its ability to expand its financial top line.
For investors seeking a deeper dive into USPH's financial health and future prospects, there are additional InvestingPro Tips available, including insights into the company's debt levels, profitability, and stock volatility. In fact, there are 11 more tips on USPH available for those looking to make a more informed decision. To access these valuable insights and take advantage of a special offer, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro. This code is your gateway to a comprehensive understanding of USPH's financial landscape and potential investment opportunities.
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