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In a recent transaction, Alan Yu, the Chief Executive Officer of Karat Packaging Inc. (NASDAQ:KRT), sold 750,000 shares of the company’s common stock. The shares were sold at a price of $27.00 each, totaling $20.25 million. The sale comes as the stock has experienced a significant 15% decline over the past week, according to InvestingPro data, which also indicates the company maintains a "Good" financial health rating. This sale was part of an underwritten secondary public offering, as noted in a filing with the Securities and Exchange Commission.
Following the transaction, Mr. Yu retains ownership of 6,203,805 shares in the company. The sale was executed under a Registration Statement on Form S-3, which became effective in March 2025. The public offering included an underwriting discount and commission, resulting in a net price of $25.5825 per share for Mr. Yu.
In other recent news, Karat Packaging Inc. reported its first-quarter 2025 earnings, surpassing analysts’ expectations. The company achieved an earnings per share (EPS) of $0.33, exceeding the forecasted $0.28, while revenue reached $103.6 million, surpassing the anticipated $102.07 million. This strong performance was marked by an 8.4% year-over-year increase in net sales and a 5.2% rise in net income to $6.8 million. Additionally, Karat Packaging (NYSE:PKG)’s management announced plans to sell 1.5 million shares of common stock in a public offering, with BofA Securities and William Blair & Company acting as joint lead book-runners. The company will not receive any proceeds from this sale. In terms of future outlook, Karat Packaging anticipates high single to low double-digit growth in net sales for the second quarter, maintaining a consistent gross margin. The company is also focusing on reducing its reliance on China for sourcing, with plans to further diversify its supply chain. These recent developments reflect the company’s strategic initiatives and operational efficiency amidst market challenges.
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