In a recent transaction, Sheri Pearce, Senior Vice President - Accounting and Chief Accounting Officer of Antero Midstream Corp (NYSE:AM), sold 16,394 shares of the company's common stock. The sale, which took place on March 13, 2024, amounted to over $224,000 at an average weighted price of $13.67 per share.
The shares were sold in multiple transactions with prices ranging from $13.66 to $13.70. Following this sale, Pearce's direct holdings in Antero Midstream Corp amount to 170,266 shares, which includes 167,633 shares of common stock that are subject to previously granted restricted stock units (RSUs) still pending vesting.
Antero Midstream Corp, a company specializing in natural gas transmission, has not released any official statement regarding this transaction. The details of the sale were disclosed in a Form 4 filing with the Securities and Exchange Commission, which is a requirement for insiders to report trades of their company's shares.
Investors often monitor insider transactions as they can provide insights into an executive's view of the company's prospects. However, it's important to note that there can be various reasons for insiders to sell shares, and such transactions do not necessarily signal a change in the company's fundamental outlook.
The transaction was signed off by Yvette K. Schultz, as attorney-in-fact for Sheri Pearce, and was filed on March 14, 2024. Pearce holds the position of Senior Vice President - Accounting and Chief Accounting Officer at Antero Midstream Corp, which is headquartered in Denver, Colorado.
InvestingPro Insights
Antero Midstream Corp (NYSE:AM), a player in the natural gas transmission space, has been under the microscope following the insider sale by Sheri Pearce. While such transactions are closely observed for potential insights into company health and executive confidence, it's also valuable to consider the company's performance metrics and market standing.
InvestingPro data highlights a market capitalization of $7.93 billion, with a Price to Earnings (P/E) ratio of 31.98, suggesting that investors may be expecting higher future earnings. The adjusted P/E ratio for the last twelve months as of Q4 2023 stands at 29.12, reflecting a somewhat high valuation relative to earnings. Additionally, Antero Midstream Corp's revenue for the last twelve months as of Q4 2023 is reported at $4.49 billion, with a notable gross profit margin of 64.74%, indicating a strong ability to retain earnings from sales.
Investors tracking Antero Midstream Corp's stock price movements will find that despite recent volatility, the company has seen a strong return over the last month, with a 23.43% increase. The three-month return is also noteworthy at 19.71%, underscoring a positive short-term trend. These figures can be particularly interesting when juxtaposed with insider sales, as they provide a broader context for interpreting such transactions.
Among the InvestingPro Tips, it's mentioned that Antero Midstream Corp operates with a significant debt burden and that its stock price movements are quite volatile. These aspects should be weighed by investors considering the implications of insider trades. Moreover, the company does not pay a dividend, which may influence investment strategies for those seeking regular income from their holdings.
For those looking to delve deeper, InvestingPro offers additional insights and tips on Antero Midstream Corp. By using the exclusive coupon code PRONEWS24, investors can receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription, which includes a wealth of financial data and analysis to inform investment decisions. With 9 additional InvestingPro Tips available, subscribers can gain a more nuanced understanding of the company's financial health and market position.
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