In recent market activity, Mark Chiplock, the Senior Vice President and Chief Accounting Officer (SVP & CAO) of Ameresco, Inc. (NYSE:AMRC), has sold shares of the company's stock. On March 19, 2024, Chiplock sold 101 shares at a price of $20.53 per share, totaling approximately $2,073. The transaction was part of an automatic sell-to-cover arrangement put into place to cover applicable withholding taxes due to the partial vesting of restricted stock units (RSUs).
The sale was executed under an automatic sell-to-cover instruction signed on March 7, 2023, which was associated with the grant of RSUs to Chiplock. These RSUs, which represent a contingent right to receive shares of Ameresco's Class A Common Stock, were granted on March 17, 2023, and are set to vest in 25% increments every six months from the grant date.
Prior to this sale, Chiplock acquired 277 shares of Ameresco stock at no cost on March 17, 2024, due to the vesting of RSUs. Following these transactions, Chiplock's direct ownership in the company stands at 348 shares.
Investors and market watchers often pay close attention to insider transactions, as they can provide insights into an executive's confidence in the company's future performance. Ameresco, Inc., based in Framingham, Massachusetts, specializes in energy efficiency solutions and operates within the construction and special trade contractors industry.
InvestingPro Insights
As Ameresco, Inc. (NYSE:AMRC) navigates the market, recent financial data from InvestingPro paints a detailed picture of the company's current standing. With a market capitalization of approximately $1.05 billion, Ameresco is trading at a P/E ratio of 16.88 based on the last twelve months as of Q4 2023. Despite a notable revenue decline of 24.65% over the same period, the company has exhibited a strong quarterly revenue growth of 33.05% in Q4 2023.
InvestingPro Tips highlight that Ameresco operates with a significant debt burden and has been quickly burning through cash. Additionally, the stock price has experienced considerable volatility, with a 53.79% decrease over the past year, reflecting a potential concern for investors. However, analysts predict that the company will be profitable this year, and it has been profitable over the last twelve months.
For those looking to delve deeper into Ameresco's financial health and future prospects, there are additional InvestingPro Tips available. Readers can access these tips by visiting InvestingPro, and with the use of coupon code PRONEWS24, they can enjoy an extra 10% off a yearly or biyearly Pro and Pro+ subscription. Currently, there are 12 additional tips listed on InvestingPro that could provide further insights into Ameresco's performance and valuation.
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