Ivan Arteaga sold $100,829 worth of M-tron Industries stock By Investing.com
Ivan Arteaga, director at M-tron Industries, Inc. (NYSE:MPTI), recently sold shares of the company's stock, according to a filing with the Securities and Exchange Commission. Arteaga sold a total of 2,000 shares over the two transactions. On October 11, he sold 400 shares at a price of $49.414 each. A few days later, on October 14, he sold an additional 1,600 shares for $50.665 per share. This transaction resulted in a total sales value of $100,829. After this sale, Arteaga has 364 shares of M-tron Industries.
In other recent news, MtronPTI reported a 16.4% increase in revenue in Q2 2024 compared to the same quarter last year. The company is on track to meet or exceed its annual revenue of $46 million to $48 million, and EBITDA has grown from 19% to 21%. MtronPTI also announced the appointment of Cameron Pforr as Chief Financial Officer, a move that comes amid this period of growth.
Pforr, who brings a history of M&A transactions and sales of more than thirty companies, joins MtronPTI after serving as President and CFO at IronNet, Inc. He has held strategic positions at several other firms, including Fidelis Cybersecurity, Inc., and WhipTail Technologies LLC. , which was acquired by Cisco (NASDAQ: ).
These are the latest developments in the company. MtronPTI CEO, Michael Ferrantino, expressed confidence in Pforr's ability to drive profitable growth, noting his extensive leadership experience. In addition, the company's strategic investment in defense has led to increased sales in a variety of applications, including missiles, satellite platforms, and manned spacecraft. This information is in line with the company's goals to improve its performance in national security, as noted by the Chairman of MtronPTI, Bel Lazar.
InvestingPro Insights
The recent sale of shares by M-tron Industries director Ivan Arteaga comes at a time when the company's shares have shown impressive performance. According to InvestingPro data, MPTI has shown a significant return of 97.39% over the past year, with a strong return of 80.73% over the past six months. This upward trend is also evidenced by the stock's current price, which stands at 92.85% of its 52-week high.
Despite the director's sale, M-tron Industries appears to be in a strong financial position. InvestingPro Tips reveals that the company has more cash than debt on its balance sheet, and its liquid assets exceed current liabilities. This financial stability is consistent with the company's earnings over the past twelve months and analysts' forecasts for continued earnings this year.
The company's growth metrics are also noteworthy, with revenue growth of 22.02% over the past twelve months and an impressive EBITDA growth of 91.31% over the same period. These figures suggest that M-tron Industries is experiencing strong operational growth.
For investors who want a deeper understanding of MPTI's strengths, InvestingPro offers 13 additional tips, which provide a comprehensive analysis of the company's financial health and market conditions.
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