Cimpress plc (NASDAQ:CMPR) CEO and Chairman Robert S. Keane has recently sold a significant amount of company stock, totaling over $7 million. The transactions, which took place on August 29th and 30th, involved the sale of Cimpress ordinary shares at varying prices.
According to the latest filings, Keane sold a total of 24,912 shares at a price of $98.195, 7,101 shares at $98.7186, 3,128 shares at $99.8379, 8,500 shares at $101.1625, and 1,669 shares at $101.9828 on August 29th. The following day, Keane continued to sell 11,739 shares at $99.0863 and 13,970 shares at $100.1112. These sales were conducted indirectly through Third Delaware 2011, LLC, an entity associated with Keane.
The price range for these transactions was between $98.195 and $101.9828 per share. The sales on August 29th occurred within price ranges from $97.56 to $102.22, as detailed in the footnotes of the filing. The total value of the shares sold by Keane amounted to approximately $7,051,345.
Following these transactions, Keane still maintains a substantial interest in the company through various holdings. The report indicates indirect ownership of shares through entities such as Keane Family Foundation, RHS Delaware Holdings LLC, Eastern Irrevocable, LLC, Western Irrevocable, LLC, Delaware 2001, LLC, and Second Delaware 2003, LLC, with the number of shares owned following the transactions varying per entity.
These sales were publicly disclosed in compliance with SEC regulations, which mandate corporate insiders to report their trading activities. The disclosed information provides transparency for investors and the market, allowing them to stay informed about the financial moves of Cimpress's executives.
In other recent news, Cimpress, the global mass customization firm, reported a solid finish to fiscal year 2024, with its Q4 earnings showing a 6% rise in consolidated revenue and substantial growth in adjusted EBITDA. The firm's strategic investments in technology and customer value enhancement have yielded positive results, particularly in the Vista segment. The company also reported a $5 million year-over-year increase in adjusted EBITDA, reaching $119 million for Q4, and a full-year adjusted EBITDA growth of 38%, totaling $469 million.
Cimpress revealed plans for increased capital expenditures to strengthen its manufacturing and supply chain capabilities. The company also repurchased 1.7 million shares for $157 million and reduced net leverage to under 3.0x trailing 12-month EBITDA. Looking ahead, Cimpress anticipates mid-single-digit rates growth in organic constant currency revenue and slightly faster growth in adjusted EBITDA.
Additionally, the company has seen growth in the Upload and Print segment, driven solely by volume. Despite this, the company's growth in the Upload and Print segment has not been driven by a mix shift towards newer products and pricing improvements. Lastly, Cimpress is set to provide more details on their strategic progress during their upcoming Virtual Investor Day in September.
InvestingPro Insights
Amidst the news of CEO Robert S. Keane's recent sale of Cimpress plc (NASDAQ:CMPR) stock, investors may find it valuable to consider the company's financial health and market performance as provided by InvestingPro. Cimpress boasts a robust gross profit margin, which stood at 48.51% for the last twelve months as of Q4 2024. This impressive margin underscores the company's ability to manage its cost of goods sold effectively and maintain profitability.
In addition to its strong profit margins, Cimpress has demonstrated a commitment to enhancing shareholder value. An InvestingPro Tip highlights that the management has been actively engaged in share buybacks, which can often signal confidence in the company's future prospects and a focus on returning value to shareholders. Moreover, Cimpress has a high shareholder yield, which takes into account buybacks, dividends, and debt reduction, further indicating a proactive approach to capital allocation.
From a valuation standpoint, Cimpress's P/E ratio was 14.31, with an adjusted P/E ratio of 13.62 for the last twelve months as of Q4 2024. This suggests that the stock may be reasonably valued in comparison to earnings. However, it's important to note that the company does not pay a dividend, which could influence the investment strategy of income-focused investors.
For those interested in more in-depth analysis and additional insights, there are numerous other InvestingPro Tips available at https://www.investing.com/pro/CMPR. These tips provide a comprehensive look at Cimpress plc, helping investors make more informed decisions.
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