SoFi CEO enters prepaid forward contract on 1.5 million shares
Jennifer Straumins, a director at Calumet, Inc. (NASDAQ:CLMT), has sold a significant portion of her holdings in the company. According to a recent SEC filing, Straumins sold a total of 150,000 shares over two transactions. The stock, which currently trades at $16.86 and has gained nearly 21% in the past week, shows signs of being in overbought territory according to InvestingPro analysis. On June 13, she sold 50,000 shares at a price of $15.08 per share, and on June 16, she sold an additional 100,000 shares at $16.23 per share. The total value of these transactions amounted to approximately $2.38 million. Following these sales, Straumins retains ownership of 934,589 shares of Calumet, a company currently valued at $1.46 billion and rated as ’Fair’ by InvestingPro’s comprehensive financial health assessment. Get access to 8 more exclusive ProTips and detailed insider trading analysis with an InvestingPro subscription.
In other recent news, Calumet Inc. reported a significant earnings miss for the first quarter of 2025, with an earnings per share (EPS) of -$1.87, falling short of the projected -$0.38. However, the company exceeded revenue expectations, generating $993.9 million against the forecasted $919.3 million. Additionally, BofA Securities initiated coverage on Calumet’s stock with a Buy rating and set a price target of $15, highlighting the company’s biofuel business and its MaxSAF project. This project is expected to expand Calumet’s renewable jet fuel capacity significantly, potentially doubling EBITDA between 2025 and 2027. In other developments, Calumet’s shareholders approved executive compensation and elected four directors during the company’s 2025 Annual Meeting. The company also plans to hold annual advisory votes on executive compensation based on shareholder preferences. Furthermore, the appointment of Grant Thornton LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025, was ratified. These developments reflect ongoing strategic initiatives and shareholder support for Calumet’s leadership and compensation practices.
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