In a recent transaction, Christopher Broderick, the Chief Operating Officer (COO) & Chief Financial Officer (CFO) of Atlantic International Corp. (NASDAQ:ATLN), made a significant purchase of company stock. The executive acquired a total of 2,004,237 shares at a price of $2.36 per share, amounting to an investment of approximately $4.73 million.
The transaction, which took place on June 18, 2024, was made public through a filing with the Securities and Exchange Commission (SEC). Following the purchase, Broderick's total ownership in the company's common stock increased to the same number of shares, indicating this was a new investment.
Investors often keep an eye on insider transactions as they can provide insights into the executives' confidence in the company's future performance. The decision by Atlantic International Corp's COO & CFO to invest a substantial amount in the company's stock could be interpreted as a positive signal.
Atlantic International Corp., incorporated in Delaware and operating in the services-help supply services industry, has its business address in Woburn, Massachusetts. The company, previously known as SeqLL, Inc., underwent a name change in April 2014.
The purchase by Broderick represents a notable addition to his stake in the company and is a significant financial commitment to Atlantic International Corp's future. Investors and market watchers may take this insider buying activity as a potential indicator of the company's strategic direction and growth prospects.
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