In a recent transaction, Philip Koosed, the Chief Strategy Officer (CSO) of Superior Group of Companies, Inc. (NASDAQ:SGC), sold shares of the company's stock, totaling $140,760. The sale occurred on March 18, 2024, with the shares being sold at prices ranging from $15.36 to $15.85, averaging $15.64 per share.
The transaction was disclosed in a filing with the Securities and Exchange Commission (SEC), which also noted that Koosed acquired 9,000 shares of common stock on the same day at a price of $10.97 per share, amounting to a total of $98,730. This buy transaction was immediately followed by the sale of an equivalent number of shares.
It should be noted that some of the shares involved in the transactions are part of restricted stock awards and continue to be subject to forfeiture. Specifically, 51,419 of the shares owned by Koosed are still at risk of forfeiture as of the filing date.
Investors often look at the buying and selling patterns of company insiders as an indicator of the firm's financial health and future prospects. Transactions by high-level executives like Koosed can provide insights into their confidence in the company's performance and direction.
Superior Group of Companies, Inc., headquartered in St. Petersburg, Florida, operates in the apparel and finished products sector, providing a range of products and services. The company has a history dating back to its former names, including Superior Uniform Group (NASDAQ:SGC) Inc and Superior Surgical Manufacturing Co Inc.
The filing was signed on behalf of Koosed by Melinda Barreiro, as attorney in fact, on March 20, 2024.
InvestingPro Insights
Following the recent insider trading activity at Superior Group of Companies, Inc. (NASDAQ:SGC), where Chief Strategy Officer Philip Koosed sold and then repurchased shares, investors may be interested in a deeper financial analysis of the company. According to InvestingPro data, SGC has a market capitalization of $272.87 million USD and is trading at a price-to-earnings (P/E) ratio of 29.25, with a slightly higher adjusted P/E ratio for the last twelve months as of Q4 2023 standing at 30.65.
The company's revenue for the last twelve months as of Q4 2023 was reported at $543.3 million USD, though it experienced a revenue decline of 6.14% during the same period. Despite this, SGC has demonstrated significant price returns, with a 14.03% increase over the last week and an impressive 109.46% over the last six months, indicating a strong market performance relative to its share price.
InvestingPro Tips for SGC highlight the company's high shareholder yield and its consistent dividend payments for 48 consecutive years. Moreover, the company has been trading at a low P/E ratio relative to its near-term earnings growth, which could be attractive to value investors. For those seeking additional insights, there are 15 InvestingPro Tips available, which can provide further guidance on the potential investment opportunities with SGC.
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