Traeger CEO Jeremy Andrus buys $500k in company stock By Investing.com

In a recent move that signals confidence in the company, Jeremy Andrus, the Chief Executive Officer of Traeger, Inc. (NYSE:COOK), has purchased shares of the company’s common stock worth approximately $500,000. The transaction took place on May 23, with the CEO acquiring 226,684 shares at a weighted average price of $2.2076. The prices for these shares ranged from $2.12 to $2.25, showcasing a significant investment by Andrus in the company he leads.

Following this transaction, Andrus’s direct holdings in Traeger, Inc. have increased to a total of 7,655,571 shares. Additionally, indirect holdings through JA Cropston, LLC and JK Andrus Investments, LLC amount to 3,399,002 and 5,422,908 shares respectively. It should be noted that Andrus has disclaimed beneficial ownership of the indirectly held securities, except to the extent of his pecuniary interest.

This latest acquisition by the CEO is a notable event for investors and market watchers, as executive stock purchases are often seen as a sign of strong belief in the company’s future prospects. Traeger, known for its wood pellet grills and other cooking appliances, has been a player in the household appliances sector since its incorporation in Delaware.

Investors and potential shareholders can request more detailed information about the specific prices and quantities of the shares purchased within the reported range directly from the company or the Securities and Exchange Commission, if needed. As of now, the company has not made any additional remarks regarding the transaction.

InvestingPro Insights

Amidst the backdrop of Traeger, Inc.’s (NYSE:COOK) CEO Jeremy Andrus showing faith in the company through a notable purchase of shares, investors may find additional context in the latest metrics and analyst insights. According to InvestingPro, the company’s market capitalization stands at 294.47 million USD, reflecting its position in the market. Despite a challenging period, the CEO’s action aligns with the company’s valuation, which suggests a strong free cash flow yield, an InvestingPro Tip that might reassure investors of the company’s potential to generate cash.

Moreover, Traeger’s revenue for the last twelve months as of Q1 2024 was reported at 597.63 million USD, with a gross profit margin of 38.6%, indicating the company’s ability to retain a significant portion of its sales as gross profit. However, the InvestingPro Tips also highlight that analysts do not expect the company to be profitable this year and note that the stock is trading at a high EBITDA valuation multiple. These insights could be crucial for investors to consider the balance between current valuations and future growth expectations.

For those looking to delve deeper into the financial health and future prospects of Traeger, Inc., there are additional InvestingPro Tips available that could provide a more comprehensive understanding. In fact, there are six more tips listed on InvestingPro for Traeger, Inc. To access these insights and to help make more informed investment decisions, interested parties can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

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