Genie Energy CFO sells over $39,000 in company stock

Genie Energy Ltd. (NYSE:GNE) CFO Avi Goldin recently sold a total of 2,300 shares of the company's stock, according to a new SEC filing. The transactions, which took place on September 11, 2024, amounted to over $39,000, with each share sold at a price of $17.1884.

The recent sale by Goldin was executed in two separate transactions. In the first transaction, 1,900 shares were sold directly from an Individual Retirement Account, while the second transaction involved the sale of 400 shares from a 401(k) plan held by Goldin's wife. Following these transactions, the filing indicated that the CFO no longer holds any shares of Class B common stock in these accounts.

However, the SEC filing also notes that Goldin still retains a significant number of shares indirectly. Specifically, the filing footnote reveals that he has 134,999 shares of Class B common stock, which includes 19,656 vested restricted shares and 62,100 unvested restricted shares. The unvested shares are scheduled to vest over the next few years, with specific dates outlined for the vesting of different portions of the shares.

This disclosure provides transparency into the trading activities of Genie Energy's executives and is part of the routine financial reporting required by the SEC. Investors often monitor such filings to gain insight into the actions of company insiders, which can be a factor in their investment decisions.

For those interested in Genie Energy's stock movements, the company trades under the ticker symbol GNE on the New York Stock Exchange.

InvestingPro Insights

In light of the recent transactions by Genie Energy Ltd. (NYSE:GNE) CFO Avi Goldin, investors may find additional context in the company's financial health and performance metrics. According to real-time data from InvestingPro, Genie Energy boasts a market capitalization of $470.09 million, reflecting its overall market value. The company's P/E ratio, a metric that compares a company's share price to its earnings per share, stands at a relatively high 59.15. This suggests that investors are willing to pay more for each dollar of GNE's earnings, possibly due to expectations of future growth or the company's current market position.

Moreover, Genie Energy holds more cash than debt on its balance sheet, which is an indicator of financial stability and could provide a cushion against market volatility or unexpected expenses. This aligns with the company's strong free cash flow yield, as indicated by InvestingPro Tips, implying that the company generates ample cash relative to its share price. Additionally, Genie Energy's liquid assets exceed its short-term obligations, further reinforcing the company's financial resilience.

For investors considering the company's stock, it's worth noting that Genie Energy has experienced a strong return over the last three months, with a 19.72% price total return, which may interest those looking for recent positive performance. For more detailed analysis and additional InvestingPro Tips, including insights into the company's trading at a high earnings multiple and its ability to cover interest payments with cash flows, investors can visit https://www.investing.com/pro/GNE, which lists a total of 9 tips for Genie Energy.

These insights into Genie Energy's financial metrics and InvestingPro Tips could provide valuable information for shareholders and potential investors as they assess the implications of insider trading activities and consider the company's broader financial health.

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