GrowGeneration president Michael Salaman acquires $103k in stock

Published 20/03/2025, 20:58
GrowGeneration president Michael Salaman acquires $103k in stock

Michael Salaman, President of GrowGeneration Corp. (NASDAQ:GRWG), recently made a significant purchase of the company’s stock, joining a broader pattern of management share purchases. According to InvestingPro data, the stock has seen a notable 25% gain over the past week, though it remains significantly below its 52-week high of $3.38. According to a recent SEC filing, Salaman acquired 85,465 shares of common stock on March 19, 2025, at an average price of $1.21 per share. This transaction totaled approximately $103,412. Following this acquisition, Salaman directly owns 1,639,313 shares of GrowGeneration. Additionally, he indirectly owns 437,441 shares, which include holdings in a spousal trust and a charitable fund where he holds voting power. Based on InvestingPro’s analysis, the stock is currently trading near its Fair Value, with 11 additional exclusive ProTips available for subscribers, including detailed insights into the company’s financial health and growth prospects.

In other recent news, GrowGeneration Corp reported its fourth-quarter 2024 earnings, showing a larger-than-expected loss and a notable decline in revenue. The company posted an earnings per share (EPS) of -$0.39, missing the consensus estimate of -$0.16, and revenue came in at $37.4 million, falling short of the projected $42.37 million. Year-over-year, revenue dropped from $49.5 million to $37.4 million, and for the full year, net revenue decreased from $225.9 million in 2023 to $188.9 million in 2024. Despite these financial challenges, GrowGeneration ended the year with $56.5 million in cash and no debt, and completed a $6 million share repurchase program.

Looking ahead, GrowGeneration provided guidance for 2025, projecting net revenues between $170 million and $180 million and adjusted EBITDA ranging from a $2 million loss to a $2 million profit. The company aims to achieve profitability by the second quarter of 2025. Analyst firms did not provide any upgrades or downgrades in this period. GrowGeneration’s CEO, Darren Lampert, described 2024 as a "transformational year," emphasizing the company’s strategic shift towards proprietary brands and digital sales channels. The firm is targeting gross margins of 29-31% and continues to focus on expanding its proprietary brands and B2B e-commerce platform.

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