National Vision Holdings, Inc. (NASDAQ:EYE) Chief Executive Officer Reade Fahs acquired shares of the company’s stock, a recent filing with the Securities and Exchange Commission showed. The transaction involved the purchase of 20,000 shares at a weighted average price of $14.96 per share, totaling approximately $299,200.
The purchase was executed on May 13, with prices ranging from $14.925 to $15.00, indicating the CEO's confidence in the eyewear company's value. Following the buy, Fahs now directly holds 633,097 shares of National Vision.
Investors often monitor insider transactions as they can provide insights into the executives' perspective on the company's current valuation and future prospects. Fahs' recent acquisition might be interpreted as a positive signal regarding the company's outlook.
National Vision Holdings, Inc. specializes in ophthalmic goods and services and is incorporated in Delaware. The company's business and mailing address is located in Duluth, Georgia.
InvestingPro Insights
In light of the recent insider buying by National Vision Holdings, Inc. (NASDAQ:EYE) CEO Reade Fahs, investors might be curious about the company's current financial health and future prospects. According to real-time data from InvestingPro, National Vision Holdings has a market capitalization of approximately $1.17 billion. Despite the company's challenges over the past year, with a year-to-date price total return of -28.62%, the company's revenue has grown by 7.49% over the last twelve months as of Q1 2024.
From an investment standpoint, the company's P/E ratio stands at a negative -16.21, reflecting its current lack of profitability. However, the company's gross profit margin remains robust at 52.79%, suggesting that while National Vision may currently be unprofitable, it retains a strong capacity to generate income relative to its sales. This is further corroborated by an InvestingPro Tip indicating that net income is expected to grow this year, which could signal a potential turnaround for the company. Moreover, the stock's current price, as of the previous close, was $14.94, which is significantly below the fair value estimates by analysts at $21.5 and InvestingPro's fair value at $18.72.
For those considering an investment in National Vision, another relevant InvestingPro Tip is that the stock's Relative Strength Index (RSI) suggests it is in oversold territory. This may imply that the stock could be undervalued and potentially poised for a rebound, aligning with the CEO's recent share purchase as a vote of confidence.
For investors seeking more in-depth analysis and additional InvestingPro Tips, they can explore the full range of insights at https://www.investing.com/pro/EYE, which includes a total of 9 additional tips. To enhance the value of a yearly or biyearly Pro and Pro+ subscription, use the coupon code PRONEWS24 to receive an additional 10% off.
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