Lifevantage director Darwin Lewis buys shares worth $3,142
Investing.com
Published Mar 18, 2024 07:17PM ET
Lifevantage Corp (NASDAQ:LFVN) director Darwin Lewis has expanded his stake in the company through the purchase of additional shares, according to the latest SEC filings. The transactions, which took place on March 15, 2024, involved Lewis acquiring a total of 449 shares of Lifevantage common stock.
The shares were bought at prices ranging from $6.9356 to $6.9999, amounting to a total investment of $3,142. This purchase was conducted under an automatic purchase plan, as per Rule 10b5-1, which was established by Lewis on June 13, 2023. Such plans allow company insiders to set up predetermined trading arrangements for buying or selling stock at a future date, which can provide an affirmative defense against accusations of trading on inside information.
Following the recent acquisitions, Lewis now holds a total of 107,502 shares in the company. The purchase signifies a vote of confidence in the future of Lifevantage, a pharmaceutical preparations company based in Lehi, Utah.
Investors often monitor insider buying as it can be a signal of the management's belief in the company's prospects or that the stock may be undervalued. Lewis's recent stock purchases may therefore be of interest to current and potential shareholders alike.
Lifevantage Corp has not released any official statement regarding the transactions at this time.
h2 InvestingPro Insights/h2Director Darwin Lewis's recent purchase of Lifevantage Corp (NASDAQ:LFVN) shares is a positive signal to the market, and a deeper look at the company's financials through InvestingPro Tip that suggests a bullish outlook from those at the helm.
InvestingPro data further reveals that Lifevantage holds a market capitalization of $89.05M with an adjusted price-to-earnings (P/E) ratio for the last twelve months as of Q2 2024 standing at 27.37. This is complemented by a notable gross profit margin of 79.65%, indicating the company's ability to maintain profitability on its products and services. Additionally, with a dividend yield of 2.02%, Lifevantage appears to offer a balance of growth and income potential.
Another InvestingPro Tips available, offering a comprehensive analysis of Lifevantage's financial health and future outlook.
Investors seeking to make informed decisions may consider exploring these metrics and tips in greater detail. To access the full suite of insights, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro .
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