Palomar Holdings, Inc. (NASDAQ:PLMR) has reported a recent transaction involving its Chief Financial Officer, T Christopher Uchida, who sold company shares on May 15, 2024. The transaction was disclosed in a filing with the Securities and Exchange Commission.
According to the filing, Uchida sold a total of 1,000 shares of common stock at an average price of $15.00, resulting in a transaction value of $15,000. Additionally, Uchida executed sales of 712 and 288 shares of common stock at weighted average prices of $82.9738 and $83.7377, respectively. These sales amounted to a combined total of $83,193.
The prices at which the shares were sold ranged from $82.37 to $83.92. The filing included a footnote indicating that the prices reported were weighted averages and that Uchida is willing to provide full information regarding the number of shares sold at each separate price within the range upon request.
Following these transactions, Uchida's ownership in Palomar Holdings has been adjusted to reflect the new totals. The filing also noted that Uchida's holdings include 1,666 shares of common stock purchased through the Palomar Holdings, Inc. 2019 Employee Stock Purchase Plan (ESPP).
Investors and market watchers often look to insider transactions such as these for signals about a company's health and the confidence that executives have in the firm's future prospects. The reported transactions provide a snapshot of the CFO's recent financial moves regarding his stake in the company.
InvestingPro Insights
As Palomar Holdings, Inc. (NASDAQ:PLMR) navigates the market, recent insider transactions have caught the eye of investors. Chief Financial Officer T Christopher Uchida's sale of company shares has prompted a closer look at the company's financial health and performance metrics. To provide a broader context, here are some insights based on real-time data from InvestingPro.
Palomar Holdings is currently trading near its 52-week high, with a price 98.89% of the peak, indicating a strong market sentiment. The company's market capitalization stands at $2.13 billion, reflecting its position in the industry. Moreover, Palomar has demonstrated a robust revenue growth of 19.84% over the last twelve months as of Q1 2024, outpacing many competitors and signaling potential for further expansion.
An InvestingPro Tip suggests that the company is trading at a low P/E ratio relative to its near-term earnings growth, which could signal an undervalued stock to potential investors. Additionally, Palomar's PEG Ratio of 0.38 suggests that the company's earnings growth rate is outstripping the P/E ratio, which may appeal to growth-oriented investors.
While the CFO's stock sale might raise questions, it's essential to consider that Palomar has been profitable over the last twelve months, and analysts predict the company will maintain profitability this year. Moreover, the company's cash flows can sufficiently cover interest payments, adding a layer of financial stability.
For those interested in a deeper analysis, InvestingPro offers additional insights. There are currently more InvestingPro Tips available that could help assess the company's financial outlook. To explore these tips, visit https://www.investing.com/pro/PLMR and remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.