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Jon Isaac, the CEO and President of Live Ventures Inc. (NASDAQ:LIVE), recently increased his stake in the company through a series of stock purchases. The move comes as the stock has declined over 73% in the past year, with the company currently valued at $21.75 million. According to a recent SEC filing, Isaac acquired a total of 55,796 shares over three consecutive days, with transactions occurring on March 25, 26, and 27.
The shares were purchased at prices ranging from $6.871 to $7.077, resulting in a total investment of $391,550. Following these transactions, Isaac’s total ownership in Live Ventures, through Isaac Capital Group, LLC, stands at 1,574,483 shares. This includes 217,177 shares owned directly by Isaac and 1,357,306 shares held by Isaac Capital Group, LLC, of which he is the sole member and manager. According to InvestingPro analysis, the stock trades at just 0.29 times book value, suggesting potential undervaluation despite recent losses of $8.13 per share over the last twelve months. For deeper insights into insider trading patterns and comprehensive valuation metrics, explore the detailed Pro Research Report available on InvestingPro.
In other recent news, Live Ventures Incorporated reported its fourth-quarter earnings for 2024, revealing a notable improvement in earnings per share (EPS), which rose to $0.16 from a previous loss of $0.22. Despite this improvement, the company’s revenue saw a decrease of 5.2% year-over-year, totaling $111.5 million. This revenue figure, however, exceeded expectations of $104 million. Additionally, Live Ventures has renegotiated its debt obligations, significantly reducing the outstanding principal amount from $34 million to $15 million related to the acquisition of Flooring Liquidators and other entities.
The company also amended the employment agreement of Stephen J. Kellogg, who will now serve in a part-time capacity with a potential performance bonus tied to the company’s earnings. These changes reflect Live Ventures’ strategic efforts to optimize its financial position. Furthermore, the company settled significant liabilities, generating $3.5 million in gains, which contributed to a net income of $500,000, a marked improvement from a net loss of $700,000 the previous year. Despite the positive revenue surprise, the EPS fell short of the forecasted $1.44, highlighting ongoing challenges in meeting profitability expectations.
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