Caesars Entertainment misses Q2 earnings expectations, shares edge lower
Jeffrey Buchanan Bean, a director at Sparta Commercial Services, Inc. (OTC:SRCO), recently acquired 1,000 shares of the company’s common stock. The transaction took place on February 11, 2025, at a price of $0.285 per share, amounting to a total purchase value of $285. The timing of this purchase is notable, as InvestingPro data shows the stock has gained nearly 12% in the past week and is up 83% year-to-date. Following this acquisition, Bean’s total direct ownership in the company stands at 1,489,233 shares. This transaction was reported in a recent SEC filing, providing investors with the latest updates on insider activities at the company. Sparta Commercial Services, a business services company headquartered in New York, NY, has a market capitalization of $11.36 million. According to InvestingPro’s Fair Value analysis, the stock appears to be trading above its Fair Value, with impressive gross profit margins of 84%.
In other recent news, Sparta Commercial Services, Inc. has issued stock options as part of its compensation strategy to key executives and board members. The company granted options for an aggregate of 3,000,000 shares, with CEO Anthony L Havens and Vice President of Operations Sandra L Ahman among the recipients. Additionally, two independent directors received options for 300,000 shares each, and company employees were granted options totaling 220,000 shares.
These options, priced at $0.18 per share, are set to vest over a three-year period in three equal tranches. The exercise price represents a 110% premium over the company’s common stock’s closing price for the thirty consecutive trading days preceding the grant date, including only days where at least 100 shares were traded.
The sales of these securities are exempt from registration requirements under the Securities Act, based on Section 4(a)(2), which pertains to transactions by an issuer not involving a public offering. The recipients, closely associated with Sparta Commercial, have indicated their acquisitions are purely for investment purposes. This information is based on a recent SEC filing by the company.
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