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Robert G. Brown, a 10% owner of SPAR Group , Inc. (NASDAQ:SGRP), recently acquired 5,000 shares of the company’s common stock. The shares were purchased at a price of $1.10 each, totaling $5,500. The purchase comes as the stock trades at attractive valuations, with a P/E ratio of 2.1x and price-to-book of 0.84x. According to InvestingPro analysis, SGRP currently appears undervalued. Following this transaction, Brown’s direct ownership amounts to over 2.45 million shares. Additionally, he holds indirect ownership of 3 million shares through Innovative Global Technologies LLC and nearly 993,000 shares via SPAR Business Services, Inc. The company maintains strong financial health with a current ratio of 1.77x and has demonstrated profitability with a 20.5% gross margin. InvestingPro subscribers can access 12 additional key insights about SGRP’s financial performance and outlook.
In other recent news, SPAR Group, Inc. has announced a delay in filing its Annual Report for the fiscal year ending December 31, 2024, due to the ongoing merger with Highwire Capital and the transition to a new Enterprise Resource Planning system. The company is working to complete its consolidated financial statements and audit procedures, but has not provided a specific timeline for when the report will be filed. Meanwhile, Highwire Capital has reaffirmed its commitment to acquiring SPAR Group, a deal initially agreed upon in August 2024. The acquisition, which involves an all-cash transaction, received stockholder approval in October 2024. Highwire Capital has extended its lender’s commitment letter, indicating ongoing efforts to finalize the acquisition. Additionally, SPAR Group has secured a third extension for the merger financing, moving the Commitment Termination Date to March 17, 2025, while maintaining existing terms and conditions. The merger is expected to enhance SPAR Group’s service offerings and market presence, with both parties working to meet customary closing conditions. These developments reflect the current status of SPAR Group’s financial and strategic initiatives.
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