Paysign, Inc. (NASDAQ:PAYS) CEO Mark Newcomer has recently sold a total of 62,500 shares of the company’s common stock, with transactions amounting to over $259,000. The sales took place over a series of transactions on September 19, September 20, and September 23.
The shares were sold at prices ranging from $4.2465 to $4.5079, according to the company’s latest filings. On September 19, Newcomer sold 1,500 shares at a price of $4.5000 per share. The following day, he sold another 9,000 shares, with the transactions occurring at weighted average prices ranging from $4.5000 to $4.5101. The largest sale occurred on September 23, when Newcomer sold 50,000 shares at a weighted average price between $4.2300 and $4.3701.
After these transactions, the CEO still holds a significant amount of Paysign shares, with the filings indicating a remaining ownership of 9,486,886 shares.
The sales were conducted under a pre-arranged trading plan, which Newcomer adopted on June 12, 2024, as per the company’s disclosure. This plan is in accordance with Rule 10b5-1, allowing company insiders to sell shares over a predetermined period of time to avoid concerns about insider trading.
Investors tracking insider activities may consider the timing and volume of these sales as they maintain their portfolios. Paysign, headquartered in Henderson, NV, specializes in providing business services and operates under the ticker symbol NASDAQ:PAYS.
In other recent news, Paysign Inc. reported a robust growth for Q2 2024, with revenues reaching $14.3 million, a 30% increase compared to the previous year. This growth was primarily driven by the patient affordability business, which saw a 267% surge in revenue, contributing to 59% of the total revenue growth. The company’s adjusted EBITDA also rose significantly by 96% to $2.24 million.
In addition to these developments, Paysign has plans to expand its plasma donor compensation business by adding 5 to 10 new plasma centers by the end of the year. The company also adjusted its full-year 2024 revenue guidance upwards, now expecting total revenues to range between $56.5 million and $58.5 million.
However, Paysign acknowledged the need for additional personnel to support their growth, which could impact operating expenses. Despite this, the company maintains a positive outlook, expressing confidence in their operational cash flow to support future ambitions. This includes working with over 40 pharmaceutical companies and having a majority of new clients in their pipeline. These recent developments highlight Paysign’s continued growth trajectory.
InvestingPro Insights
In light of the recent insider transactions at Paysign, Inc. (NASDAQ:PAYS), investors may be seeking additional data to gauge the company’s financial health and market performance. According to InvestingPro data, Paysign has a market capitalization of approximately $225.84 million, illustrating its position within the small-cap segment of the market. The company’s Price/Earnings (P/E) ratio stands at 29.11, which may indicate investor expectations for future earnings growth, despite the fact that net income is expected to drop this year, as noted in one of the InvestingPro Tips.
Moreover, Paysign’s stock has experienced a large price uptick over the last six months, with a 28.88% total return, reflecting a strong market performance in the medium term. This is complemented by an even more impressive one-year price total return of 118.56%, which aligns with another InvestingPro Tip highlighting the company’s high return over the last year. However, it’s worth noting that the stock has fared poorly over the last month, with a -14.17% return, potentially indicating recent market volatility or investor reactions to insider sales and other factors.
Investors may also consider the company’s Price/Book ratio of 8.39, which is relatively high and suggests that the market values the company’s assets at a premium. This could be of particular interest considering the CEO’s recent stock sales. Paysign does not pay a dividend to shareholders, which may influence the investment strategy for income-focused portfolios.
For those interested in a deeper analysis, InvestingPro offers additional insights and metrics. There are currently 8 more InvestingPro Tips available for Paysign, which can be found at InvestingPro Paysign, providing investors with a comprehensive understanding of the company’s prospects and investment potential.
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