A recent filing with the Securities and Exchange Commission has revealed that Louis P. Maltezos, Executive Vice President of Ameresco, Inc. (NYSE:AMRC), sold 78 shares of the company's stock on March 19, 2024. The transaction was conducted at an average price of $20.53 per share, resulting in a total value of $1,601.
The sale was made under an automatic sell-to-cover instruction signed in March of the previous year, which was intended to cover applicable withholding taxes due to the partial vesting of restricted stock units (RSUs). According to the filing, the RSUs represent a contingent right to receive Ameresco's Class A Common Stock and are set to vest in 25% increments every six months following the grant date.
This transaction follows an acquisition by Maltezos of 221 shares on March 17, 2024, through the vesting of RSUs. However, no monetary value was associated with this acquisition as the shares were granted at a price of $0.0.
Following the sale, Maltezos still holds a substantial number of Ameresco shares, with 30,284 shares remaining in his possession. The RSUs in question were granted with the understanding that each unit represents a contingent right to one share of Ameresco's Class A Common Stock.
Ameresco, Inc., headquartered in Framingham, Massachusetts, is a leading provider of energy efficiency solutions for facilities throughout North America. As an executive of the company, Maltezos's transactions in company stock are closely watched by investors for insights into executive sentiment regarding the firm's financial health and future prospects.
Investors and market watchers often scrutinize such filings for patterns or significant changes in insider trading activity, which can provide valuable context to the stock's performance and potential future movements.
InvestingPro Insights
In light of the recent insider trading activity at Ameresco, Inc. (NYSE:AMRC), investors may be seeking additional context to gauge the company's current financial standing and market sentiment. An analysis of real-time data and InvestingPro Tips provides a deeper insight into Ameresco's performance and potential outlook.
InvestingPro Data suggests Ameresco has a market capitalization of approximately $1.05 billion, with a Price to Earnings (P/E) ratio of 16.43 based on the last twelve months as of Q4 2023. This valuation comes amidst a challenging period, with a significant revenue decline of 24.65% during the same period, although the most recent quarterly figure shows a substantial increase in revenue growth by 33.05%. Despite this growth, the company's stock price has experienced a steep decline over the past year, with a 53.79% drop in the one-year price total return as of the latest available data.
From the perspective of InvestingPro Tips, two notable points emerge. Firstly, Ameresco is carrying a significant debt burden, which may concern investors looking for a more robust balance sheet. Secondly, the company is quickly burning through cash, which could potentially impact its ability to invest in future growth or sustain its operations without seeking additional financing. These factors may contribute to the volatility in Ameresco's stock price movements, as highlighted by the recent insider sales.
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