In a recent transaction involving Flowco Holdings Inc. (NASDAQ:FLOC), Jonathan B. Fairbanks, a director and ten percent owner, executed a significant purchase of the company's Class A Common Stock. On January 17, Fairbanks acquired a total of 2,000 shares at a price of $24 per share, amounting to a $48,000 investment. The stock currently trades at $29.42, and according to InvestingPro analysis, appears undervalued based on its Fair Value estimates.
The transactions, detailed in a Form 4 filing with the Securities and Exchange Commission, reveal that these shares were acquired indirectly by Fairbanks' child. Post-transaction, Fairbanks' holdings in Flowco Holdings have been updated accordingly. The company shows strong financial health with a current ratio of 3.43, indicating robust liquidity.
This purchase adds to the ongoing insider activities within Flowco Holdings, a company known for its role in the oil and gas field machinery and equipment sector. The company maintains a healthy gross profit margin of 50.55% and has been profitable over the last twelve months, with several additional positive indicators available through InvestingPro's comprehensive analysis.
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