In a recent transaction on March 18, Jake Himelstein, President of BAMKO, LLC, a subsidiary of Superior Group of Companies, Inc. (NASDAQ:SGC), has sold shares worth approximately $110,110. The shares were sold at an average price of $15.73, with the sale price ranging from $15.37 to $16.12. On the same day, Himelstein also made a purchase of shares at a price of $10.97, totaling $76,790.
The transactions were reported in a Form 4 filing with the Securities and Exchange Commission, which provides details of insider trading activities. According to the document, Himelstein disposed of 7,000 shares of common stock and subsequently acquired the same number of shares, indicating a possible exercise of stock options.
Following the sale, the executive's holdings in Superior Group of Companies decreased, but still included a number of shares subject to forfeiture under restricted stock awards. Specifically, out of the shares owned following the transaction, 30,851 shares continue to be subject to forfeiture as of the date of the filing.
Investors often monitor insider trading patterns for insights into executive sentiment about their company's stock. Transactions by insiders can provide valuable context to the market performance and potential future movements of the company's stock price.
Superior Group of Companies, Inc., headquartered in St. Petersburg, Florida, operates in the apparel and accessories manufacturing sector, providing a range of products and services. The company's stock trades on the NASDAQ under the ticker symbol SGC.
InvestingPro Insights
Superior Group of Companies, Inc. (NASDAQ:SGC) has seen notable insider trading activity, which may pique the interest of investors looking for deeper insights into the company's financial health and potential. The InvestingPro platform offers a comprehensive suite of tools and metrics to evaluate the company's performance and market position. Here are some key metrics and InvestingPro Tips to consider:
InvestingPro Data reveals a market capitalization of $271.87 million, indicating the company's size and market value. Additionally, SGC's P/E Ratio stands at 29.25, reflecting how much investors are willing to pay for each dollar of earnings, which is a crucial metric for valuation. Lastly, the company's Price / Book ratio as of the last twelve months ending Q4 2023 is 1.36, providing insights into the market's valuation of the company relative to its book value.
Investors might find the InvestingPro Tips particularly informative. Superior Group of Companies is highlighted for having a high shareholder yield and has raised its dividend for 3 consecutive years, demonstrating a commitment to returning value to shareholders. Moreover, the company has maintained dividend payments for an impressive 48 consecutive years, underscoring a stable and reliable income stream for investors.
For those interested in further exploring Superior Group of Companies' financial landscape and for additional InvestingPro Tips, consider visiting https://www.investing.com/pro/SGC. There are 15 more InvestingPro Tips available on the platform, offering a broader perspective on the company's financial health and market performance. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking a wealth of financial data and expert analysis to inform your investment decisions.
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