Insider Sale: President and COO Adam Munoz Sells 42,573 Shares of ProPetro Holding Corp (PUMP)
On May 3, 2024, Adam Munoz, President and Chief Operating Officer of ProPetro Holding Corp (NYSE:PUMP), executed a sale of 42,573 shares of the company. The transaction was filed with the SEC and can be viewed in detail through the SEC Filing.
ProPetro Holding Corp is engaged in providing hydraulic fracturing and other complementary services to upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources.
Over the past year, the insider has sold a total of 64,040 shares and has not made any purchases. This recent sale is part of a broader trend observed at ProPetro Holding Corp, where there have been 11 insider sells and no insider buys over the past year.
On the date of the sale, shares of ProPetro Holding Corp were priced at $9.28, resulting in a market cap of approximately $1.03 billion. The price-earnings ratio of the company stood at 14.33, above both the industry median of 11.11 and the company's historical median.
According to the GF Value, the intrinsic value of ProPetro Holding Corp is estimated at $12.68 per share, suggesting that the stock is modestly undervalued with a price-to-GF-Value ratio of 0.73.
The GF Value is calculated considering historical trading multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates provided by Morningstar analysts.
This insider sale might interest investors tracking insider behaviors as an indicator of corporate confidence and potential future stock movements.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
