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Jay O. Wright, the General Counsel and Secretary at Castellum, Inc. (NYSE:CTM), recently sold a significant portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Wright sold a total of 500,000 shares over two days. The transaction comes at an interesting time for the $80.7 million market cap company, which has shown significant price volatility and is currently trading near InvestingPro’s Fair Value estimate. On March 5, 2025, he sold 365,000 shares at a price of $1.47 each, and on March 6, 2025, he sold an additional 135,000 shares at $1.34 per share. The total value of these transactions amounted to approximately $717,450.
Following these sales, Wright retains ownership of 9,523,673 shares in Castellum.
In other recent news, Castellum, Inc. has secured a substantial contract with the Naval Air Systems Command (NAVAIR), valued at $103.3 million. This contract, the largest in Castellum’s history, will span five and a half years and involves managing Special Missions Management of On-Site Services for NAVAIR Program Office 290. Castellum will handle various Intelligence, Surveillance, Reconnaissance, and Targeting programs, starting next month. Meanwhile, Catena Media reported a 30% decline in revenue for Q4 2024, totaling €10.2 million, though its adjusted EBITDA rose by 2% to €1.5 million. The North American market remains crucial for Catena Media, contributing 87% of its revenue. The company is targeting double-digit growth in 2025, despite ongoing challenges. Catena Media’s CEO, Manuel Stan, highlighted the company’s improved profitability and continued focus on strategic priorities.
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