Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Agilon Health CFO purchases shares, withholds some for tax obligations

Published 03/18/2024, 08:43 PM
Updated 03/18/2024, 08:43 PM
© Reuters.

Agilon Health, Inc. (NYSE:AGL) Chief Financial Officer Timothy Bensley recently engaged in transactions involving the company's common stock, as reported in a recent SEC filing. Bensley acquired a significant number of shares while also withholding some to satisfy tax obligations.

On March 14, 2024, Bensley acquired 14,945 shares of Agilon Health's common stock. This transaction was related to the vesting of performance-based restricted stock units (PSUs) that were granted in April 2021. The vesting of these PSUs was contingent on the company meeting certain revenue and adjusted EBITDA goals over a three-year period, which the company achieved at 100%.

On the same day, Bensley withheld 6,751 shares of common stock valued at $5.23 per share, totaling approximately $35,307, to cover income tax withholding and remittance obligations associated with the vesting of the PSUs. It's important to note that this withholding does not represent an open-market sale of shares but rather is a common practice during the net settlement of equity awards.

Following these transactions, Bensley's direct ownership in the company stands at 43,365 shares, which includes restricted stock units. The recent activity reflects the executive's increased stake in the company and the automatic mechanisms in place for handling tax obligations resulting from equity compensation.

Investors often monitor insider transactions as they may provide insights into executives' perspectives on the company's performance and outlook. Agilon Health continues to be a notable player in the healthcare services industry, and executive transactions like these are closely watched for indications of confidence in the company's future.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

InvestingPro Insights

Agilon Health, Inc. (NYSE:AGL) has seen a flurry of insider activity with Chief Financial Officer Timothy Bensley's recent stock transactions. These moves coincide with some intriguing financial metrics and strategic maneuvers from the company. According to InvestingPro data, Agilon Health's market capitalization stands at $2.21 billion, reflecting the company's valuation in the current market landscape. Despite a challenging period, the company's revenue has seen a substantial growth of 80.74% in the last twelve months as of Q4 2023, indicating a significant increase in sales.

However, the company's financial health is not without its concerns. The InvestingPro Tips highlight that Agilon Health is trading at a low revenue valuation multiple and is not expected to be profitable this year. Additionally, with a negative P/E ratio of -11.34, the company's earnings do not currently support the share price, which could be a point of caution for investors. On a more positive note, the company holds more cash than debt on its balance sheet and has been aggressively buying back shares, a sign that management is confident in the company's intrinsic value and future prospects.

For those looking to delve deeper into Agilon Health's financials and strategic positioning, there are additional InvestingPro Tips available, which could offer further insights into whether the company's current share price presents an investment opportunity. With the use of coupon code PRONEWS24, readers can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription to access these valuable tips.

It's also worth noting that the company's stock has been under pressure, trading near its 52-week low and having experienced a significant price drop over the last year. Whether this trend represents a buying opportunity or a warning sign is something investors may want to investigate further, especially in light of the CFO's recent stock transactions. As always, a careful analysis of the full picture, which includes both the quantitative data and qualitative InvestingPro Tips, is recommended for a comprehensive investment decision-making process.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.