Senior Vice President and CFO of Diamond Offshore Drilling (OTC:DOFSQ), Inc. (NYSE:DO), Dominic A. Savarino, recently sold 13,000 shares of the company's common stock, realizing a total of over $171,000 from the sale. This transaction took place on March 19, 2024, with the shares sold at a weighted average price of $13.16. The sale was executed in multiple transactions with prices ranging from $13.1501 to $13.1801.
Following this transaction, Savarino's direct holdings in the company have decreased to 44,501 shares of common stock. The disclosed sale included an inadvertent disposal of one share earlier on March 4, 2024, at a price of $12.75, as noted in the footnotes of the filing.
Investors often monitor insider transactions as they can provide insights into the company's financial health and future prospects. The sale by a high-ranking executive like the CFO might attract attention from the market, as it could be interpreted in various ways by investors.
Diamond Offshore Drilling, Inc. specializes in drilling oil and gas wells and is incorporated in Delaware. The company's business address is also in Houston, Texas, where the reporting CFO is based.
The transaction was formally filed with the Securities and Exchange Commission, and the details, including the range of prices and the number of shares sold, are available to the public and the company's shareholders upon request.
InvestingPro Insights
The recent insider sale by Diamond Offshore Drilling, Inc.'s CFO Dominic A. Savarino has highlighted the company's financial dynamics, which investors can further dissect through key metrics and expert analyses. According to InvestingPro, Diamond Offshore Drilling has a market capitalization of $1.34 billion, reflecting its size and market value in the industry. Despite not having turned a profit over the last twelve months, the company has shown a notable revenue growth of 35.77% during the same period, indicating potential for future profitability. This is further supported by the InvestingPro Tip that analysts predict the company will be profitable this year.
Moreover, the company's gross profit margin stands at 23.05%, which can give investors an idea of how much the company retains on each dollar of sales after accounting for the cost of goods sold. The significant EBITDA growth of 349.6% in the last twelve months as of Q4 2023 is another metric that stands out, suggesting that the company's earnings before interest, taxes, depreciation, and amortization have increased substantially.
For those looking to dive deeper into Diamond Offshore Drilling's financials and future prospects, InvestingPro offers additional insights and tips. There are currently 6 more InvestingPro Tips available for Diamond Offshore Drilling, which can be accessed on the InvestingPro platform. Interested investors can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, providing a more comprehensive analysis to guide investment decisions.
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