SAN ANTONIO—Barry Wood, the Senior Vice President and Chief Financial Officer of XPEL, Inc. (NASDAQ:XPEL), recently sold a portion of his holdings in the company. According to a regulatory filing with the Securities and Exchange Commission, Wood sold 1,870 shares of XPEL common stock on November 25, 2024, at an average price of $45.9819 per share. This transaction totaled approximately $85,986.
Following the sale, Wood retains 25,828 shares of XPEL. The transaction was reported in a Form 4 filing, which details insider trading activities for company executives. XPEL, headquartered in San Antonio, Texas, specializes in protective films and coatings for automotive and other industries.
In other recent news, XPEL Incorporated reported a record Q3 revenue of $112.9 million, indicating a 9.9% increase year-over-year. Despite a 12% quarter-over-quarter revenue decline in China, the company's overall performance remained robust with a 9.1% increase in net income to $14.9 million and a 10% increase in EBITDA to $21.7 million. The company also generated $19.6 million in cash flow.
XPEL's strategic initiatives, including product portfolio expansion and customer base enlargement, have contributed to its growth across various regions and product lines. In line with these initiatives, the company launched a new Windshield Protection Film and plans a soft launch for color change films in early 2025.
Looking ahead, XPEL expects Q4 revenue to be between $105 million and $107 million, with a projected gross margin of 42.5%. The company also intends to continue its focus on strategic acquisitions and dealership service expansion. These are recent developments in the company's ongoing efforts to adapt to market demands and seize growth opportunities.
InvestingPro Insights
Barry Wood's recent sale of XPEL shares comes at a time when the company's stock has shown strong performance in recent months. According to InvestingPro data, XPEL has experienced a robust 29.99% price total return over the past six months, indicating significant investor confidence. This aligns with an InvestingPro Tip highlighting XPEL's "strong return over the last month."
Despite the recent insider sale, XPEL's financial health appears solid. The company boasts a market capitalization of $1.3 billion and maintains a healthy P/E ratio of 26.33. An InvestingPro Tip notes that XPEL "holds more cash than debt on its balance sheet," suggesting a strong financial position. This is further supported by another tip indicating that "liquid assets exceed short-term obligations."
For investors seeking a deeper understanding of XPEL's potential, InvestingPro offers 11 additional tips beyond those mentioned here. These insights could provide valuable context for assessing the significance of insider transactions like Wood's recent sale.
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