Vizio executive sells over $28k in company stock

In a recent transaction, Michael Joseph O'Donnell, who holds the position of Chief Revenue/Strategic Growth Officer at Vizio Holding Corp. (NYSE:VZIO), sold shares of the company's stock. The transaction, which occurred on August 21, 2024, involved the sale of 2,555 shares at a weighted average price of $11.133 per share, resulting in a total sale value of approximately $28,444.

The shares sold by O'Donnell were reportedly to cover tax withholding and remittance obligations associated with the vesting of restricted stock units (RSUs). According to the footnotes provided in the filing, the transaction was executed in multiple trades with prices ranging from $11.12 to $11.145. The reported average price reflects the weighted average of these sales.

Following the sale, O'Donnell continues to hold a substantial number of shares in Vizio, with a reported 602,364 shares remaining in his possession. It's noted that some of these securities are in the form of RSUs, each representing a contingent right to receive one share of Class A Common Stock, subject to vesting conditions.

The sale was disclosed in a Form 4 filing with the Securities and Exchange Commission, signed on behalf of O'Donnell by Jerry Huang under the power of attorney on August 23, 2024. The document provides transparency regarding the executive's stock transactions and changes in ownership.

Vizio Holding Corp., known for its consumer electronics products, including smart TVs and soundbars, continues to be a notable player in the household audio and video equipment sector. Investors and market watchers often monitor insider transactions as they can provide insights into executives' perspectives on the company's performance and future prospects.

In other recent news, VIZIO has reported a decrease in net revenue to $353.9 million in Q1 2024, falling short of analyst expectations. The net loss widened to $12.1 million, compared to a minimal loss in Q1 2023. However, the company's Platform+ net revenue saw a significant increase, with gross profit rising by 20% and SmartCast Average Revenue Per User (ARPU) increasing by 17% year-over-year. In major developments, Walmart (NYSE:WMT) Inc. has announced its intention to withdraw and refile an antitrust review application related to its planned acquisition of VIZIO. Analyst firm Guggenheim has downgraded VIZIO's stock rating from Buy to Neutral, despite the company's Q4 results surpassing expectations. In other company news, VIZIO has integrated Dolby Atmos technology across its entire soundbar lineup for 2024, in partnership with Dolby Laboratories (NYSE:DLB), marking the company as one of the first to offer Dolby Atmos across a full range of soundbars. These are recent developments that have taken place.

InvestingPro Insights

As Vizio Holding Corp. (NYSE:VZIO) navigates the dynamic consumer electronics market, recent insider transactions have caught the attention of investors seeking to understand the company's financial health and future potential. Here are some key metrics and insights from InvestingPro that may provide a deeper context:

Vizio's market capitalization stands at $2.24 billion, reflecting its position in the competitive landscape of the household audio and video equipment sector. With a P/E ratio of 146.71, the company trades at a high earnings multiple, which suggests that investors have high expectations for future earnings growth. However, this is tempered by the adjusted P/E ratio for the last twelve months as of Q2 2024, which is slightly lower at 97.83, indicating a potential reevaluation of these expectations.

The company also exhibits a PEG ratio of 2.57 for the same period, which may indicate that the stock price is high relative to the company's earnings growth. Additionally, Vizio's Price / Book ratio is at 4.8, which is considered high and could imply that the stock is overvalued compared to the company's net asset value.

InvestingPro Tips highlight that Vizio holds more cash than debt on its balance sheet and that its liquid assets exceed short-term obligations, suggesting a solid liquidity position. However, it is important to note that analysts have revised their earnings downwards for the upcoming period and do not anticipate the company will be profitable this year. These factors should be carefully considered when assessing the company's stock performance and future outlook.

For investors looking for more detailed analysis and additional insights, there are 15 more InvestingPro Tips available for Vizio Holding Corp., which can be found at https://www.investing.com/pro/VZIO. These tips provide a comprehensive view of Vizio's financial metrics, stock price movements, and market valuation, offering valuable information for making informed investment decisions.

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