In a recent transaction, Patrick J. Haveron, the Chief Executive Officer and Chief Financial Officer of Maiden Holdings , Ltd. (NASDAQ:MHLD), purchased 10,000 common shares of the company at $1.4998 per share, totaling $14,998. This acquisition was reported alongside the disposition of shares for tax liabilities.
The purchase, which took place on March 15, 2024, increased Haveron's direct holdings to 2,175,803 common shares of Maiden Holdings. In a separate transaction on March 17, Haveron disposed of 42,631 common shares at a price of $1.54 per share, amounting to $65,651. This sale was related to the withholding of securities to cover tax obligations linked with a previous grant of shares that vested on the same date.
The transactions were disclosed in a Form 4 filing with the Securities and Exchange Commission, which also noted the vesting of restricted shares. Specifically, 683,453 restricted shares vested on March 14, 2024, and an additional 115,217 common shares vested on March 17, 2024, both under the company's 2019 Omnibus Incentive Plan. Following these transactions, Haveron's total direct ownership in Maiden Holdings stands at 2,248,389 common shares.
Maiden Holdings, Ltd., based in Bermuda, operates in the fire, marine, and casualty insurance sector. The company's recent executive stock transactions provide investors with insight into the actions of its top management regarding their holdings in the firm.
InvestingPro Insights
Following the recent insider transactions at Maiden Holdings, Ltd. (NASDAQ:MHLD), InvestingPro data and tips offer additional context that may be valuable for investors. Patrick J. Haveron's increased stake in the company coincides with a period of notable share price movement and company performance metrics.
InvestingPro data highlights a significant revenue growth for Maiden Holdings in the last twelve months as of Q4 2023, with a quarterly increase of 159.61%. Despite this impressive growth, the company's gross profit margin remains low at 9.57%, reflecting the challenges it faces in maintaining profitability. The stock's price volatility is also evident, with a one-week price total return of 10.0% but a three-month return of -38.15%, indicating short-term gains against a backdrop of longer-term declines.
Two InvestingPro Tips that stand out in relation to the article are:
- The management's aggressive share buybacks, which could be a sign of confidence in the company's future or an attempt to support the share price.
- The significant return over the last week, which may have influenced Haveron's decision to increase his stake.
For investors seeking a deeper analysis, there are additional InvestingPro Tips available, including insights into the company's profitability over the last twelve months and its performance over the last decade. To explore these further, visit InvestingPro and consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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