In a recent transaction filed with the Securities and Exchange Commission, Gregoire Maes, Chief Operating Officer of CompoSecure, Inc. (NASDAQ:CMPO), reported the sale of 55,137 shares of Class A Common Stock. The shares were sold at an average price of $16.40 per share, totaling approximately $904,246. The transaction comes as the $1.4 billion market cap company trades near its 52-week high of $16.77.
The filing also indicated that Maes exercised stock options to acquire the same number of shares at a price of $6.36 each, amounting to a total of $350,671. Following these transactions, Maes holds 762,009 shares directly, which includes various restricted stock units and performance-vesting RSUs scheduled to vest over the next few years. The timing is notable, as CMPO shares have delivered an impressive 241% return over the past year.
These transactions highlight the ongoing activity of company insiders, providing insights into their current positions and future expectations. According to InvestingPro analysis, which offers 10+ additional exclusive insights, the stock currently appears slightly overvalued relative to its Fair Value.
In other recent news, CompoSecure has made significant strides in its financial and strategic developments. The company recently completed an exchange of $130M notes for stock, as part of its broader strategy to streamline its capital structure and reduce debt. This move resulted in the issuance of additional shares, increasing the total number of outstanding shares of CompoSecure's Class A common stock.
In another important development, CompoSecure eliminated its dual-class structure through a transaction that exchanged Class B Units for shares of Class A Common Stock. This move dissolved the previous dual-class share structure, establishing a single-class equity structure for the company.
Financially, CompoSecure reported an 11% increase in net sales, amounting to $107.1 million for the third quarter of 2024. The company also saw a 13% rise in adjusted EBITDA, totaling $40 million. Despite a GAAP net loss of $26 million for the quarter due to non-cash adjustments, these figures show a promising financial performance.
On the analyst front, B.Riley financial analysts have raised their price target on CompoSecure shares to $23.00, maintaining a Buy rating. This adjustment reflects the company's growth potential, following the recent appointment of Dave Cote as Executive Chairman.
These recent developments underline CompoSecure's strategic and financial moves in the finance services industry. As these events unfold, investors are likely to keep a close eye on CompoSecure's continuing financial health and strategic direction.
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