SoFi CEO enters prepaid forward contract on 1.5 million shares
Calumet, Inc. (NASDAQ:CLMT) Senior Vice President and General Counsel Gregory J. Morical has sold shares of the company’s common stock, according to a recent SEC filing. The sale comes as InvestingPro data shows the stock has surged nearly 21% in the past week and technical indicators suggest overbought conditions. Morical sold a total of 25,123 shares at an average price of $16.69 per share, amounting to approximately $419,302. Following this transaction, Morical retains ownership of 39,415 shares of Calumet stock. The shares were sold in multiple transactions, with prices ranging from $16.68 to $16.80 per share. The company currently trades at a high EV/EBITDA multiple of 46x, with weak gross profit margins of just 3.1%. For comprehensive insider trading analysis and 10+ additional key insights, check out the detailed research available on InvestingPro.
In other recent news, Calumet Inc. reported its first-quarter 2025 financial results, revealing a significant earnings miss with an EPS of -$1.87, compared to the forecasted -$0.38. However, the company exceeded revenue expectations, posting $993.9 million against a forecast of $919.3 million. Analysts from BofA Securities initiated coverage on Calumet with a Buy rating, setting a price target of $15, highlighting the potential growth from its biofuel business, Montana Renewables. The MaxSAF project, aimed at expanding renewable jet fuel capacity, is expected to double Calumet’s EBITDA between 2025 and 2027, supported by temporarily interest-free loans from the Department of Energy.
In addition, during Calumet’s 2025 Annual Meeting, shareholders approved executive pay and elected four Class I directors. The company also plans to hold annual advisory votes on executive compensation following shareholder preference. Furthermore, Calumet ratified the appointment of Grant Thornton LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025. These developments reflect shareholder support for the company’s executive compensation practices and board re-election.
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