In a recent transaction on May 22, Ben Bun Wong, President and COO of Vizio Holding Corp. (NYSE:VZIO), sold a total of 59,449 shares of the company's Class A Common Stock. The sale amounted to over $625,000, with shares sold at prices ranging from $10.51 to $10.555, averaging at $10.526 per share. This move was made to cover tax withholding and remittance obligations related to the vesting of restricted stock units (RSUs).
Following the transaction, Wong still holds a substantial number of shares, with a post-sale total of 3,261,702 shares in Vizio. It's worth noting that a portion of these securities are in the form of RSUs, which grants Wong the right to receive shares of Class A Common Stock upon meeting certain conditions.
Investors and interested parties should be aware that the reported average price is based on a weighted average, and further details regarding the number of shares sold at each separate price can be provided upon request.
The sale was disclosed in a regulatory filing with the Securities and Exchange Commission, with the document signed on behalf of Wong by Jerry Huang, under the power of attorney, on May 24.
Vizio Holding Corp., known for its consumer electronics products, particularly televisions and sound bars, continues to be a significant player in the household audio and video equipment industry. Transactions like these are closely watched by investors as they can provide insights into executives' perspectives on the company's financial health and future prospects.
InvestingPro Insights
As investors evaluate the recent insider trading activity of Vizio Holding Corp. (NYSE:VZIO), it's important to consider the company's financial health and market performance. According to InvestingPro data, Vizio has a market capitalization of $2.11 billion, showcasing its substantial presence in the consumer electronics market. Despite a challenging environment reflected in a slight revenue decline of 3.28% over the last twelve months as of Q1 2024, Vizio has maintained a gross profit margin of 21.58%, indicating a stable ability to generate profit from its sales.
The company's Price/Earnings (P/E) ratio stands at a high 124.82, suggesting that investors are expecting high future earnings growth, despite the company not paying dividends. This is further supported by the InvestingPro Tips, which highlight that Vizio is trading at a high P/E ratio relative to near-term earnings growth. Additionally, the company's stock has seen a large price uptick over the last six months, with a 54.36% return, reflecting positive investor sentiment.
For those looking to delve deeper into Vizio's financial metrics and insider trading implications, InvestingPro offers a wealth of additional tips. Currently, there are 16 more InvestingPro Tips available for Vizio, which can be accessed at: https://www.investing.com/pro/VZIO. These tips provide further insights into the company's balance sheet strength, valuation multiples, and expected income trends. Interested readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, potentially offering valuable perspectives for their investment decisions.
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