Adam Joseph Lowe, the Chief Product and Innovation Officer at CompoSecure, Inc. (NASDAQ:CMPO), recently sold shares of the company's Class A common stock totaling approximately $1.6 million. The transactions occurred on December 6 and December 9, with sales prices ranging from $15.91 to $16.75 per share. The sales come as CMPO trades near its 52-week high of $16.77, having delivered an impressive 215% return year-to-date. According to InvestingPro analysis, the stock appears slightly overvalued at current levels.
On December 6, Lowe sold 34,310 shares at an average price of $16.24 per share. A few days later, on December 9, he sold an additional 66,150 shares at an average price of $15.91, and 200 shares at $16.75. These sales follow option exercises, where Lowe acquired a total of 167,133 shares at a price of $4.31 per share.
Following these transactions, Lowe's (NYSE:LOW) direct ownership in CompoSecure stands at 1,358,692 shares.
In other recent news, CompoSecure has made several significant moves. The company recently completed an exchange of $130 million notes for stock, a strategic decision aimed at streamlining its capital structure and reducing debt. The finance services provider also eliminated its dual-class structure, establishing a single-class equity structure. These changes are part of CompoSecure's broader strategy to optimize its balance sheet and improve shareholder value.
CompoSecure has reported solid financial performance, with an 11% increase in net sales, reaching $107.1 million for the third quarter of 2024, and 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, the company's revised full-year 2024 guidance projects net sales between $418 million and $424 million and adjusted EBITDA between $148 million and $151 million.
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, especially in the context of possible mergers and acquisitions. These recent developments underline CompoSecure's strategic and financial moves in the finance services industry.
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