Benzinga
Published Mar 08, 2024 15:03
Updated Mar 08, 2024 16:11
Insider Transaction: Samuel Rubio Sells $1.60M Worth Of Tidewater Shares
Benzinga - by Benzinga Insights, Benzinga Staff Writer.
It was reported on March 7, that Samuel Rubio, EVP at Tidewater (NYSE:TDW) executed a significant insider sell, according to an SEC filing.
What Happened: A Form 4 filing with the U.S. Securities and Exchange Commission on Thursday outlined that Rubio executed a sale of 19,641 shares of Tidewater with a total value of $1,597,991.
As of Friday morning, Tidewater shares are up by 1.64%, currently priced at $81.0.
Delving into Tidewater's Background Tidewater Inc provides offshore service vessels and marine support services to the offshore energy industry through the operation of a diversified fleet of marine service vessels. The company's vessels and associated vessel services provide support for all phases of offshore exploration, field development, and production. These services include towing of, and anchor handling for, mobile offshore drilling units; transporting supplies and remotely operated vehicle operations, and a variety of specialized services. The company operates in the following principal geographical areas the Americas, Asia Pacific, Middle East, Europe/Mediterranean, and West Africa. The majority of its revenue is derived from West Africa.
Tidewater: Delving into Financials Revenue Growth: Tidewater's remarkable performance in 3 months is evident. As of 31 December, 2023, the company achieved an impressive revenue growth rate of 62.07%. This signifies a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Energy sector.
Profitability Metrics:
Assessing Valuation Metrics:
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Navigating the Impact of Insider Transactions on Investments While insider transactions provide valuable information, they should be part of a broader analysis in making investment decisions.
From a legal standpoint, the term "insider" pertains to any officer, director, or beneficial owner holding more than ten percent of a company's equity securities as outlined in Section 12 of the Securities Exchange Act of 1934. This encompasses executives in the c-suite and significant hedge funds. These insiders are mandated to inform the public of their transactions through a Form 4 filing, to be submitted within two business days of the transaction.
A company insider's new purchase is a indicator of their positive anticipation for a rise in the stock.
While insider sells may not necessarily reflect a bearish view and can be motivated by various factors.
The Insider's Guide to Important Transaction Codes Delving into transactions, investors typically prioritize those unfolding in the open market, as precisely outlined in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
Check Out The Full List Of Tidewater's Insider Trades.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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