In a notable move, Series U of UM Partners, LLC, a significant shareholder in Utz Brands, Inc. (NYSE:UTZ), has sold a substantial portion of its holdings in the company. The transaction, which took place on May 6, 2024, involved the sale of 397,885 shares of Class A Common Stock at a price of $18.76 per share, resulting in a total sale value of approximately $7.46 million.
This sale has reduced the ownership stake of Series U of UM Partners, LLC in Utz Brands to zero, indicating a complete divestiture of its position in the company's common stock. The details of the transaction were made public through a Form 4 filing with the Securities and Exchange Commission.
Utz Brands, Inc., known for its range of snack products, has seen its shares being actively traded by insiders, with this latest transaction being a part of the company's recent insider activity. It's worth noting that the securities mentioned are solely owned by Series U of UM Partners, LLC, as clarified in a footnote of the filing, which also states that they are part of a "group" with Series R of UM Partners, LLC for the purposes of Section 13(d) of the Exchange Act.
Investors often keep a close eye on insider transactions as they can provide insights into the company's performance and insider perspectives on the stock's value. The sale by Series U of UM Partners, LLC represents a significant change in its investment in Utz Brands, and market watchers will be keen to see how this impacts the company's stock performance in the coming days.
The transaction was signed off by Gene Otto, Vice President of Series U of UM Partners, LLC, on May 7, 2024, as per the official document filed with the SEC. Utz Brands, Inc. has not issued any official statement regarding this insider sale at the time of reporting.
InvestingPro Insights
Amidst the recent insider sale by Series U of UM Partners, LLC, Utz Brands, Inc. (NYSE:UTZ) continues to navigate the market with a mix of financial metrics that may intrigue investors. According to real-time data provided by InvestingPro, Utz Brands has a market capitalization of approximately $2.67 billion, which reflects the company's current valuation in the market. Despite a challenging P/E ratio, which stands at -46.11 for the last twelve months as of Q1 2024, the company's future growth prospects appear to be reflected in a PEG ratio of 0.22, suggesting that investors may see potential for earnings growth compared to its share price.
The company's revenue growth remains modest at 1.0% for the last twelve months as of Q1 2024, with a gross profit margin of 32.78%, indicating a solid profitability potential from its sales. This is complemented by a dividend yield of 1.24% as of the latest dividend ex-date, showcasing Utz Brands' commitment to returning value to shareholders. In fact, one of the InvestingPro Tips highlights that Utz has raised its dividend for four consecutive years, which is a positive sign for income-focused investors.
Another InvestingPro Tip worth noting is that analysts have revised their earnings estimates upwards for the upcoming period. This optimism is echoed by the prediction that Utz will be profitable this year, despite the company not being profitable over the last twelve months. Additionally, the stock has experienced a large price uptick over the last six months, with a 55.11% total return, which could indicate growing investor confidence.
For those considering an investment in Utz Brands, or seeking additional insights, InvestingPro offers further analysis and tips. There are currently 10 additional InvestingPro Tips listed for Utz Brands, which can be accessed by visiting https://www.investing.com/pro/UTZ. To gain a deeper understanding of Utz's financial health and future prospects, interested parties can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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