Verano Holdings Corp. (CNSX:VRNOF) executive Laura Marie Kalesnik, who serves as the company's General Counsel, Chief Legal Officer, and Secretary, recently sold a total of 1,569 shares in a transaction. The sale was executed on March 28, 2024, and the total value of the shares sold by Kalesnik amounted to approximately $9,682.
The shares were sold at prices ranging from $6.15 to $6.18, with a weighted average sale price of $6.171 per share. Following the transaction, Kalesnik's direct ownership in the company stands at 71,391 Class A Subordinate Voting Shares.
It is noted that the sale was carried out in accordance with a Rule 10b5-1 trading plan, which Kalesnik had adopted on August 30, 2023. Rule 10b5-1 plans allow company insiders to set up a predetermined plan to sell company stocks in a way that avoids accusations of insider trading.
The transaction was disclosed in a Form 4 filing with the Securities and Exchange Commission, dated April 1, 2024. Investors and stakeholders often monitor these filings to get insights into the actions of a company's executives and their confidence in the firm's prospects.
Verano Holdings Corp., based in Chicago, Illinois, operates within the agricultural production sector, specifically focusing on crops. The company has been gaining attention in the industry and among investors for its business activities and strategic decisions.
InvestingPro Insights
Amidst the news of Verano Holdings Corp. (CNSX:VRNOF) executive Laura Marie Kalesnik's recent sale of company shares, the latest metrics from InvestingPro paint a detailed picture of the company's financial health and performance. As of the last twelve months ending Q4 2023, Verano Holdings boasts a market capitalization of $2.06 billion, underlining its substantial size in the agricultural production sector. Despite a negative Price-to-Earnings (P/E) ratio of -17.36, reflecting the challenges the company faces in turning revenues into net income, analysts are optimistic about Verano's prospects, predicting sales growth and a return to profitability this year.
InvestingPro Data reveals that Verano has experienced a revenue growth of 6.71% over the last twelve months, which is a positive sign for potential investors. The company also maintains a strong gross profit margin of 50.64%, indicating efficient management of production costs relative to sales. Notably, Verano Holdings has delivered impressive returns to shareholders, with a year-to-date price total return of 32.59% and a staggering one-year price total return of 103.42%, suggesting that investors have been responding favorably to the company's performance and strategic initiatives.
While Verano does not pay dividends, an InvestingPro Tip highlights the company's high return over the past year and strong returns over recent months, which may be attractive to growth-oriented investors. Additionally, Verano operates with a moderate level of debt, which can be an important factor for risk assessment. For those considering a deeper dive into Verano Holdings Corp., there are over 10 additional InvestingPro Tips available, providing a comprehensive analysis of the company's financials and projections. Interested readers can find these insights at https://www.investing.com/pro/VRNOF and use the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.