In a recent move, Paul V. Mellini, a director at Superior Group of Companies, Inc. (NASDAQ:SGC), has sold shares of the company's common stock, resulting in a total transaction value exceeding $93,000. The sale occurred on March 18, 2024, with Mellini offloading 6,000 shares at prices ranging from $15.395 to $15.905, averaging out to $15.66 per share. This sale has brought Mellini's ownership in the company down to 92,955 shares, according to the latest filing.
The same filing also disclosed that Mellini acquired 6,000 shares of Superior Group's common stock on the same day, at a price of $7.95 per share, amounting to a total of $47,700. This transaction was related to the exercise of options that were set to expire soon. Following this purchase, Mellini's stake in the company increased to 98,955 shares, although it's important to note that 17,682 of these shares are subject to forfeiture under restricted stock awards.
Investors and market watchers often look to insider buying and selling as a signal of a company's prospects and the confidence level of its management and directors. In Mellini's case, the recent transactions represent a significant reshuffling of his holdings in Superior Group of Companies.
Superior Group, with a business focus in the apparel and finished products sector, has a long history dating back to its former names as Superior Uniform Group (NASDAQ:SGC) Inc and Superior Surgical Manufacturing Co Inc. The company's shares are publicly traded on the NASDAQ, where investors can follow the ticker SGC for the latest stock movements.
InvestingPro Insights
Superior Group of Companies, Inc. (NASDAQ:SGC) has been showing positive signs that are worth noting for investors following the recent insider transactions. According to real-time data from InvestingPro, the company boasts a high shareholder yield, which is a promising indicator for investors seeking companies with potential for returns through dividends and buybacks. Additionally, Superior Group has demonstrated a commitment to rewarding its investors by raising its dividend for three consecutive years, signifying a stable and shareholder-friendly policy.
The InvestingPro data also highlights that SGC is trading at a low P/E ratio of 29.25 relative to its near-term earnings growth, suggesting that the stock may be undervalued compared to its growth potential. This is further supported by a strong free cash flow yield implied by the company's valuation. Moreover, the company's shares are trading near their 52-week high, with a price 95.52% of the peak, reflecting investor confidence and a robust performance in the market.
Investors interested in deeper insights can find additional InvestingPro Tips for SGC, including analysis on earnings multiples and profitability forecasts. For those looking to leverage this information, InvestingPro offers a comprehensive suite of tools and data. Make sure to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With 14 more InvestingPro Tips available, ranging from liquidity assessments to analyst profitability predictions, there's a wealth of data to inform your investment decisions.
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