Paul Tudor Jones sees potential market rally after late October
Vistra Corp. (NYSE:VST) President and CEO James A. Burke sold a total of 40,961 shares of common stock on October 8th and 9th, with the transactions valued at $8.38 million. The shares were sold at prices ranging from $200.13 to $207.55. The sales come amid Vistra’s impressive 80.6% stock price surge over the past six months, with the company now commanding a market capitalization of $67.08 billion. According to InvestingPro analysis, the company maintains a GREAT financial health score, though it currently trades above its Fair Value.
The sales occurred alongside the exercise of stock options. On the same dates, Burke exercised options to acquire a total of 46,000 shares of Vistra Corp. common stock at a price of $19.68 per share, for a total value of $905,280. This transaction aligns with broader management activity, as InvestingPro data shows management has been actively buying back shares, demonstrating confidence in the company’s prospects.
Following these transactions, Burke directly owns 269,368 shares of Vistra Corp. common stock. He also indirectly owns 701,514 shares through JAMEB, LP, 34,000 shares through the James A. Burke 2012 Irrevocable Trust, and 259 shares through the Marti E. Burke 2012 Irrevocable Trust. For deeper insights into Vistra’s insider trading patterns and comprehensive financial analysis, investors can access the full Pro Research Report available on InvestingPro, which covers over 1,400 US stocks with expert analysis and actionable intelligence.
In other recent news, Vistra Corp. announced the pricing of a $2 billion private offering of senior secured notes. The offering includes $750 million in notes due 2028 with a 4.300% interest rate, $500 million in notes due 2030 at 4.600%, and $750 million in notes due 2035 at 5.250%. Additionally, Vistra’s indirect subsidiary, Vistra Operations Company LLC, amended its Commodity Linked Credit Agreement to extend the revolving credit maturity date to September 30, 2026, and modify borrowing terms. BMO Capital raised its price target for Vistra Energy to $236, maintaining an Outperform rating after meetings with Vistra’s management. UBS reiterated a Buy rating with a $230 price target, highlighting the potential for increased EBITDA and cash flow due to strong power demand. The UBS analysis also noted that Vistra’s Comanche deal could significantly boost free cash flow. These developments reflect Vistra’s strategic financial maneuvers and analyst confidence in its future performance.
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