Stephen Lazarus, the Chief Financial Officer and Chief Operating Officer of OneSpaWorld Holdings Ltd (NASDAQ:OSW), recently sold a significant portion of his shares in the company. According to a recent SEC filing, Lazarus sold a total of 67,206 common shares over two days, October 30 and October 31, 2024. The transactions were executed at prices ranging from $18.0154 to $18.5052 per share, totaling approximately $1.24 million.
These sales were conducted under a Rule 10b5-1 trading plan, which Lazarus adopted on June 13, 2024. Following these transactions, Lazarus retains direct ownership of 489,375 shares of OneSpaWorld.
In other recent news, OneSpaWorld Holdings Limited reported record financial results for the third quarter of 2024, showcasing a 12% increase in total revenues, which amounted to $241.7 million. The company's income from operations and adjusted EBITDA also witnessed substantial growth, increasing by 48% and 33% respectively. These positive results have led OneSpaWorld to raise its fiscal year 2024 revenue and adjusted EBITDA guidance for the third time.
The company has strategically refinanced its debt and initiated share repurchases, demonstrating a strong focus on enhancing shareholder value. Furthermore, OneSpaWorld has expanded its presence to 196 ships and projects to operate on 198 cruise ships and 51 land-based resorts by the end of the year. The fiscal year 2024 guidance has been increased, with projected revenues between $888 million and $893 million, and adjusted EBITDA between $110 million and $112 million.
Despite facing challenges in obtaining customer data from cruise lines for personalized marketing, the company remains optimistic about its strategy, focusing on shareholder value and operational improvements amidst robust market demand. These are some of the recent developments for OneSpaWorld.
InvestingPro Insights
While Stephen Lazarus's recent share sales might raise eyebrows, it's important to consider the broader financial picture of OneSpaWorld Holdings Ltd (NASDAQ:OSW). According to InvestingPro data, the company has shown strong performance with a 70.63% price total return over the past year, and it's currently trading near its 52-week high at 93.86% of that peak.
OneSpaWorld's financial health appears robust, with revenue growth of 13.6% in the last twelve months and an impressive EBITDA growth of 32.35% over the same period. The company's market capitalization stands at $1.83 billion, reflecting investor confidence in its business model.
InvestingPro Tips highlight that net income is expected to grow this year, and analysts predict the company will be profitable. This positive outlook aligns with the company's recent performance and could explain why the stock is trading near its yearly high despite the insider sale.
It's worth noting that OneSpaWorld operates with a moderate level of debt, which could provide financial flexibility for future growth initiatives. However, investors should be aware that the company does not currently pay a dividend to shareholders.
For those seeking a deeper dive into OneSpaWorld's financials and prospects, InvestingPro offers 11 additional tips that could provide valuable insights for investment decisions.
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