Ameresco, Inc. (NYSE:AMRC) has reported a recent sale of shares by the company's Senior Vice President and Chief Accounting Officer, Mark Chiplock. According to the latest Form 4 filing with the Securities and Exchange Commission, Chiplock sold 3,000 shares of Class A Common Stock on May 30, 2024, at a price of $35.00 per share, totaling $105,000.
The transaction reflects a significant cashing out by the executive, who also acquired the same number of shares on the same day through the exercise of stock options. The options were exercised at a price of $10.05 per share, amounting to a total of $30,150.
Following these transactions, Chiplock's ownership in the company has decreased, with a reported 348 shares held after the sale. It is important to note that the shares sold were directly owned by Chiplock.
The exercise of the stock options is tied to an earlier grant, where 20% of the shares subject to the option vested on March 8, 2019, with the remainder vesting in four equal annual installments thereafter. These details were specified in a footnote attached to the filing.
Investors and the market often monitor the trading activity of insiders such as corporate executives and directors for insights into the company's performance and their confidence in the stock's future prospects.
Ameresco, Inc., headquartered in Framingham, Massachusetts, operates in the construction special trade contractors industry, focusing on energy efficiency solutions for facilities throughout North America and the United Kingdom.
InvestingPro Insights
Ameresco, Inc. (NYSE:AMRC) has seen notable insider trading activity, which can often serve as a signal to investors about the company's health and future prospects. To provide a broader context to Mark Chiplock's recent share sale, we turn to InvestingPro for a deeper dive into the company's financial metrics and market performance.
InvestingPro Data highlights a market capitalization of approximately $1.91 billion, with a Price/Earnings (P/E) ratio of 32.59, reflecting a premium compared to the industry average. The adjusted P/E ratio for the last twelve months as of Q1 2024 stands at 30.82, indicating a high valuation level for the company. Despite a decrease in revenue growth of -13.54% over the last twelve months, Ameresco has experienced an impressive one-month price total return of 62.96%, and an even more striking three-month price total return of 86.9%.
An InvestingPro Tip that stands out in the context of the insider trading is the company's significant debt burden. This is a crucial factor for investors to consider, as a high level of debt could impact the company's financial flexibility and its ability to invest in growth opportunities. Additionally, with a quick cash burn rate, it's important to monitor how the company manages its liquidity and capital structure moving forward.
For those looking to gain a comprehensive understanding of Ameresco's financial health and stock performance, InvestingPro offers an array of additional tips. There are currently 17 more InvestingPro Tips available, which can be accessed at https://www.investing.com/pro/AMRC. These tips can provide valuable insights, especially when assessing the implications of insider transactions on your investment decisions.
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