George Steinbarger Takes a Bullish Stance: Acquires $95K In MasterCraft Boat Hldgs Stock
A notable insider purchase on September 5, was reported by George Steinbarger, President at MasterCraft Boat Hldgs MCFT, based on the most recent SEC filing.
What Happened: In a Form 4 filing on Thursday with the U.S. Securities and Exchange Commission, it was disclosed that Steinbarger bought 5,454 shares of MasterCraft Boat Hldgs, amounting to a total of $95,916.
During Friday’s morning session, MasterCraft Boat Hldgs shares up by 0.17%, currently priced at $17.65.
Get to Know MasterCraft Boat Hldgs Better
MasterCraft Boat Holdings Inc designs, manufactures, and markets performance sport boats and outboard boats. The company is based in the United States and operates in three brand-specific segments. The MasterCraft segment generates the majority of the company’s revenue and includes inboard boats for water skiing, wakeboarding, and wake surfing. The Pontoon segment produces pontoon boats at its Owosso, Michigan facility. Pontoon boats are used for general recreational boating. The Aviara segment produces luxury day boats at its Merritt Island, Florida facility. Aviara boats are used for general recreational boating.
Financial Insights: MasterCraft Boat Hldgs
Revenue Challenges: MasterCraft Boat Hldgs’s revenue growth over 3 months faced difficulties. As of 30 June, 2024, the company experienced a decline of approximately -59.67%. This indicates a decrease in top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Consumer Discretionary sector.
Holistic Profitability Examination:
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Gross Margin: The company shows a low gross margin of 12.18%, indicating concerns regarding cost management and overall profitability relative to its industry counterparts.
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Earnings per Share (EPS): MasterCraft Boat Hldgs’s EPS lags behind the industry average, indicating concerns and potential challenges with a current EPS of -0.48.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.27.
Navigating Market Valuation:
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Price to Earnings (P/E) Ratio: MasterCraft Boat Hldgs’s current Price to Earnings (P/E) ratio of 34.61 is higher than the industry average, indicating that the stock may be overvalued according to market sentiment.
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Price to Sales (P/S) Ratio: With a P/S ratio of 0.82 below industry standards, the stock shows potential undervaluation, making it an appealing investment option for those focusing on sales performance.
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EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation & Amortization): Boasting an EV/EBITDA ratio of 10.41, MasterCraft Boat Hldgs demonstrates a robust market valuation, outperforming industry benchmarks.
Market Capitalization Analysis: Falling below industry benchmarks, the company’s market capitalization reflects a reduced size compared to peers. This positioning may be influenced by factors such as growth expectations or operational capacity.
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Why Insider Transactions Are Important
Considering insider transactions is valuable, but it’s crucial to evaluate them in conjunction with other investment factors.
Within the legal framework, an “insider” is defined as any officer, director, or beneficial owner holding more than ten percent of a company’s equity securities as per Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and major hedge funds. These insiders are mandated to disclose their transactions through a Form 4 filing, to be submitted within two business days of the transaction.
The initiation of a new purchase by a company insider serves as a strong indication that they expect the stock to rise.
However, insider sells may not always signal a bearish view and can be influenced by various factors.
Important Transaction Codes
Taking a closer look at transactions, investors often prioritize those unfolding in the open market, meticulously cataloged in Table I of the Form 4 filing. A P in Box 3 denotes a purchase, while S signifies a sale. Transaction code C denotes the conversion of an option, and transaction code A signifies a grant, award, or other acquisition of securities from the company.
Check Out The Full List Of MasterCraft Boat Hldgs’s Insider Trades.
This article was generated by Benzinga’s automated content engine and reviewed by an editor.
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Are You Looking for a Top Momentum Pick? Why International Flavors is a Great Choice
Momentum investing is all about the idea of following a stock’s recent trend, which can be in either direction. In the ‘long’ context, investors will essentially be “buying high, but hoping to sell even higher.” And for investors following this methodology, taking advantage of trends in a stock’s price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.
While many investors like to look for momentum in stocks, this can be very tough to define. There is a lot of debate surrounding which metrics are the best to focus on and which are poor quality indicators of future performance. The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.
Below, we take a look at International Flavors IFF, which currently has a Momentum Style Score of A. We also discuss some of the main drivers of the Momentum Style Score, like price change and earnings estimate revisions.
It’s also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. International Flavors currently has a Zacks Rank of #2 (Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period.
Set to Beat the Market?
In order to see if IFF is a promising momentum pick, let’s examine some Momentum Style elements to see if this ingredients producer for food, cosmetics and consumer products industries holds up.
Looking at a stock’s short-term price activity is a great way to gauge if it has momentum, since this can reflect both the current interest in a stock and if buyers or sellers have the upper hand at the moment. It is also useful to compare a security to its industry, as this can help investors pinpoint the top companies in a particular area.
For IFF, shares are up 3.91% over the past week while the Zacks Consumer Products – Staples industry is down 1.11% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 7.45% compares favorably with the industry’s 2.61% performance as well.
While any stock can see a spike in price, it takes a real winner to consistently outperform the market. Shares of International Flavors have increased 8.01% over the past quarter, and have gained 48.37% in the last year. On the other hand, the S&P 500 has only moved 3.12% and 23.92%, respectively.
Investors should also pay attention to IFF’s average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. IFF is currently averaging 1,065,084 shares for the last 20 days.
Earnings Outlook
The Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock’s price movement. Investors should note that earnings estimates are also significant to the Zacks Rank, and a nice path here can be promising. We have recently been noticing this with IFF.
Over the past two months, 8 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost IFF’s consensus estimate, increasing from $3.87 to $4.22 in the past 60 days. Looking at the next fiscal year, 8 estimates have moved upwards while there have been no downward revisions in the same time period.
Bottom Line
Taking into account all of these elements, it should come as no surprise that IFF is a #2 (Buy) stock with a Momentum Score of A. If you’ve been searching for a fresh pick that’s set to rise in the near-term, make sure to keep International Flavors on your short list.
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Nvidia Now Far From 'Perfect,' But These 12 Stocks Are Still Golden
Before a volatile July, Nvidia (NVDA) earned “perfect” status on this screen highlighting companies sporting the highest possible 99 Composite Rating. But following the artificial intelligence juggernaut’s highly anticipated earnings report, Nvidia stock has seen that rating slip to 91 as it crashes below its 10-week moving average with its relative strength line in sharp decline.
Meanwhile, 12 stocks including miners Alamos Gold (AGI), Eldorado Gold (EGO), Iamgold (IAG) and Idaho Strategic Resources (IDR), all glow golden with a 99 Composite Rating. Agnico-Eagle Mines (AEM) and Newmont (NEM) have also dug their way onto that list.
They are joined by defense stocks Howmet Aerospace (HWM) and Heico (HEI).
Three health care-related stocks — Universal Health (UHS), Pennant (PNTG) and Corvel (CRVL) — also make the cut.
While both the Nasdaq and S&P 500 below their 50-day moving averages, many of these “perfect” stock have broken out and climbed beyond buy range. Yet, selling pressure in the indexes doesn’t mean these gems remains untarnished, a sign for investors to follow sound rules on how to buy stocks and when to sell stocks.
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AI Levels Up: Inside The Chips Driving Nvidia Stock
Sorry, Apple And Nvidia. Top Funds Love This Non-Mag 7 Stock Now.
Miners And Gold Stocks Lead Top Stocks In Top Groups
All the names on this stock screen hail from the top-ranked industry groups — a factor worth noting because winning stocks tend to come from the top-ranked groups among the 197 industries that IBD tracks. This screen highlights the Top 20 industries.
For example, driven by gold prices, the Mining-Gold/Silver/Gems group ranks a lofty No. 11 among the 197 groups IBD tracks, according to MarketSurge.
Stock Screener Highlights Top-Rated Industry Leaders
| Company | Symbol | Comp Rating | Ind Group Rank | EPS Rating | RS Rating | SMR Rating | A/D Rating |
|---|---|---|---|---|---|---|---|
| Agnico-Eagle Mines | AEM | 99 | 11 | 97 | 95 | B | B |
| Alamos Gold | AGI | 99 | 11 | 93 | 91 | A | B |
| Corvel | CRVL | 99 | 20 | 88 | 94 | A | A |
| Eldorado Gold | EGO | 99 | 11 | 87 | 91 | B | B |
| First Bank (NJ) | FRBA | 99 | 12 | 93 | 89 | A | A- |
| Heico | HEI | 99 | 16 | 91 | 92 | A | A |
| Howmet Aerospace | HWM | 99 | 16 | 93 | 96 | A | B- |
| IamGold | IAG | 99 | 11 | 81 | 98 | B | B+ |
| Idaho Strategic Resources | IDR | 99 | 11 | 81 | 98 | B | B+ |
| Newmont | NEM | 99 | 11 | 88 | 93 | B | B- |
| Pennant | PNTG | 99 | 3 | 87 | 99 | A | B |
| Universal Health | UHS | 99 | 9 | 91 | 96 | B | B+ |
Data as of Sept. 6, 2024
Miners Among Best Stocks To Watch
To make this screen of top stocks to watch in the top-ranked industries, each company must meet the following criteria:
However, ratings of course are just one part of the equation when evaluating a stock. Be sure to always check the stock chart to gauge when to buy, sell or hold.
Stock Screener: Build Your Watchlist With Stock Ratings And Stock Lists
Running stock screens with the IBD Stock Screener or MarketSurge is an effective way to streamline your research to find top-rated stocks to watch.
You can also zero in on the best stocks to watch using IBD stocks lists based on a wide range of preset filters. You’ll find top-rated stocks meeting the criteria of the IBD 50, IBD Sector Leaders, IBD Big Cap 20, IPO Leaders and more.
Once you’ve put together potential stock picks for your watchlist, you’ll want to evaluate your ideas with IBD Stock Checkup. With pass, neutral or fail ratings for each of your stocks, IBD Stock Checkup provides a detailed look at both the fundamental and technical health of the companies on your watchlist.
Additionally, based on The IBD Methodology, the Composite Rating provides an overall score that takes into account each of the IBD ratings. The single score considers how a company and its stock are performing in terms of annual and quarterly earnings growth as well as its relative strength vs. the rest of the market. The score also accounts for sales, profit margins and institutional demand.
However, note that you should not buy a stock solely on its ratings or placement on one of IBD’s stock lists. No matter how compelling a company’s story may seem, savvy investors will always check the technical action in the stock chart before buying.
Check The Chart To Know When To Buy Stocks
Using stock lists helps you zero in on the best stocks to watch. Stock ratings look under the hood to diagnose a company and its stock’s fundamental and technical health. Both stock lists and stock ratings help you understand what to buy. But to fully understand when to buy stocks, take a look at the stock chart.
Meanwhile, it’s also critical to understand what type of environment you’re currently in. Is it a bull market, when most stocks go up? Or a bear market, when most stocks go down? Or is it a volatile, choppy and uncertain time when the market indexes tend to fail to make any sustained headway?
Use stock charts to evaluate both the market indexes and individual stocks. Charts will help you pinpoint the best time to buy stocks by identifying support and resistance, as well as buy points and buy zones. Using charts also helps you identify warning signs and when to sell stocks.
So when searching for potential stock picks and stocks to watch, always check the charts. They provide the most unbiased diagnosis of a stock’s health.
Follow Matthew Galgani on Twitter at @IBD_MGalgani.
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Independent Bank Corp. Upgraded to Strong Buy: Here's What You Should Know
Independent Bank Corp. INDB appears an attractive pick, as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates — one of the most powerful forces impacting stock prices.
The Zacks rating relies solely on a company’s changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure — the Zacks Consensus Estimate.
Individual investors often find it hard to make decisions based on rating upgrades by Wall Street analysts, since these are mostly driven by subjective factors that are hard to see and measure in real time. In these situations, the Zacks rating system comes in handy because of the power of a changing earnings picture in determining near-term stock price movements.
Therefore, the Zacks rating upgrade for Independent Bank Corp. basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price.
Most Powerful Force Impacting Stock Prices
The change in a company’s future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. The influence of institutional investors has a partial contribution to this relationship, as these big professionals use earnings and earnings estimates to calculate the fair value of a company’s shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their bulk investment action then leads to price movement for the stock.
Fundamentally speaking, rising earnings estimates and the consequent rating upgrade for Independent Bank Corp. imply an improvement in the company’s underlying business. Investors should show their appreciation for this improving business trend by pushing the stock higher.
Harnessing the Power of Earnings Estimate Revisions
As empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988.
Earnings Estimate Revisions for Independent Bank Corp.
This holding company for Rockland Trust is expected to earn $4.75 per share for the fiscal year ending December 2024, which represents a year-over-year change of -12.4%.
Analysts have been steadily raising their estimates for Independent Bank Corp. Over the past three months, the Zacks Consensus Estimate for the company has increased 6.5%.
Bottom Line
Unlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of ‘buy’ and ‘sell’ ratings for its entire universe of more than 4000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a ‘Strong Buy’ rating and the next 15% get a ‘Buy’ rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.
The upgrade of Independent Bank Corp. to a Zacks Rank #1 positions it in the top 5% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Stocks Tumble On Jobs Data, Nasdaq 100 Eyes Worst Week In 2 Years As Semiconductors Slump: What's Driving Markets Friday?
Investors showed little enthusiasm for the August jobs report, as the slower-than-expected hiring numbers deepened worries about a softening labor market.
The U.S. economy added 142,000 nonfarm jobs in August, up from July’s 89,000 but falling short of the projected 160,000. The unemployment rate edged down by 0.1% to 4.3%, in line with expectations, while wages saw stronger-than-anticipated growth, rising 0.4% month-over-month.
On Friday, markets shifted sharply into risk-off mode, with all major indices dropping over 1% by midday trading in New York.
The CBOE Volatility Index (VIX) spiked over 17% to 23 points. The Nasdaq 100 led the decline, losing over 5% for the week, eyeing its worst performance since September 2022.
Semiconductors dragged down the tech-heavy index. The iShares Semiconductor ETF SOXX dropped nearly 5%, while Nvidia Corp. NVDA fell more than 4%. The chipmaker giant extended the weekly loss to 14%, on track for its steepest decline since October 2022.
Investors dumped equities and moved into cash as the U.S. dollar strengthened despite weaker-than-expected nonfarm payroll data.
In the bond market, short-term Treasury yields tumbled, bringing the yield curve back to a normal shape after two years of inversion. The two-year Treasury yield fell below the 10-year, signaling a shift in economic outlook.
Commodities took heavy losses across the board. Gold dropped 0.9%, silver plunged 3.1% and crude oil (WTI) slid 3%, reaching $66 per barrel, the lowest since May 2023.
Bitcoin BTC/USD also dropped, losing over 3%, as investors steered clear of crypto assets amid a broad-based decline in risk appetite.
Friday’s Performance In Major US Indices, ETFs
| Major Indices | Price | 1-day %chg |
| Dow Jones | 40,320.98 | -1.1% |
| S&P 500 | 5,406.64 | -1.8% |
| Russell 2000 | 2,092.33 | -2.2% |
| Nasdaq 100 | 18,424.39 | -2.7% |
According to Benzinga Pro data:
- The SPDR S&P 500 ETF Trust SPY was 1.8% lower to $539.77.
- The SPDR Dow Jones Industrial Average DIA fell 1.1% to $404.13.
- The tech-heavy Invesco QQQ Trust Series QQQ tumbled 2.7% to $448.38.
- The iShares Russell 2000 ETF IWM fell 2.2% to $207.31.
- The Consumer Staples Select Sector SPDR Fund XLP outperformed, flat for the day, while the Technology Select Sector SPDR Fund XLK lagged, down 3%.
Friday’s Stock Movers
- Broadcom Inc. AVGO tumbled 9.9%, on track for its worst session since March 2020, following weaker-than-expected guidance.
- Other stocks reacting to earnings included Samsara Inc. IOT, up 13%, Guidewire Software Inc. GWRE, up 11.8% and DocuSign Inc. DOCU, up 3.9%.
- Super Micro Computer Inc. SMCI plummeted over 7% as JPMorgan downgraded the rating from Buy to Neutral and sharply lowered its price target from $950 to $500.
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Missouri Couple Holds Onto Family Car While Drowning In $240K Debt – Dave Ramsey's Brutal Response: 'You People Are Broke!'
With debt in the U.S. still spiraling out of control, one Missouri couple is swimming in an astonishing $240,500 in consumer debt. John from St. Louis called in recently to The Ramsey Show, describing how his debt spread across credit cards, auto loans, a HELOC, student loans, and even a 401(k) loan.
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Dave Ramsey pulled no punches with his no-nonsense approach to personal finances. “You’ve never met a debt you didn’t like,” he admonished flatly. “You people are broke!”
John’s predicament isn’t unique. The average American household has accumulated $104,215 in debt as of mid-2024-about the same number shown on records from both Experian and the New York Federal Reserve Bank. However, excluding his mortgage, John’s number is more than double that amount. It’s a scenario Ramsey says he encounters frequently: families with good incomes are at the brink of financial meltdown.
Despite a pretax income of $151,600, John and his wife have struggled to manage their finances. According to a recent PYMNTS report, their earnings place them among the 48% of Americans making over $100,000 who live paycheck-to-paycheck. Even those over $200,000 aren’t immune – 36% also report the same financial strain.
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High interest rates and record debt levels are major factors that catalyze such trends, and John is no exception. Much of his debt comes from two auto loans: $28,700 on his car and $21,000 for his wife’s car-nearly one-fifth of their total debt-which co-host Jade Warshaw suggested selling at least one of the cars.
But John wasn’t ready to part with the family car. “I don’t really care if it’s the family car, you people are broke!” Ramsey fired back, obviously frustrated. “You’re starving to death, making $150,000 a year. You don’t get to say it’s the family car. You get to say everything’s on the table. We’re selling so much stuff the kids think they’re next.”
Ramsey’s irritation does have some basis in numbers. As of the second quarter of 2024, auto loans reached a stunning $1.63 trillion, making them the largest source of non-housing debt for households in the United States. According to Edmunds, nearly one out of every four Americans who purchased new cars during that period still owed an average of $6,255 on their trade-ins.
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Even if John decides to sell his car, the journey to financial freedom won’t be easy. Ramsey compared John’s debt struggle to an addiction, stressing the need to quit spending “cold turkey.” He explained, “No use of plastic is going to be OK in your house. You guys have to go cold turkey. You don’t walk around with a flask in your back pocket if you’re trying to quit drinking.”
This stark advice might be exactly what John needs to turn his financial situation around. Though tough, Ramsey’s approach is rooted in his own experience and countless others who have successfully climbed out of debt by facing the harsh reality and making drastic changes. Whether John and his wife will take that step remains to be seen, but one thing is clear: the road ahead won’t be easy.
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Eminent Spine Scoliosis Deformity Pedicle Screw System Received FDA 510(k) Clearance on August 20, 2024
Plano, TX September 06, 2024 –(PR.com)– The Eminent Spine Scoliosis Deformity Pedicle System consists of rods, polyaxial screws with set caps, and cross connectors with locking screws. Additionally, the system consists of rod connectors and iliac bolts with their respective locking screws. Rods are 5.5mm in diameter and are available either straight or pre-contoured. Straight and pre-contoured rods are each offered in lengths ranging from 40mm to 600mm in various increments. Cannulated polyaxial screws are available in 6.0mm to 12.5mm diameters and in lengths ranging from 40mm to 110mm in 5mm increments. Set caps are used to fasten the rod and screw. Cross connectors are available in 3 length ranges: 32mm-42mm, 42mm-58mm, and 58mm-74mm. Cross connectors lock screws are used to fasten the cross connector together and fasten across the rods. Rod connectors are offered in 3 types and the iliac bolts are offered in 1 type. All of the components are available in a variety of sizes to match more closely to the patient’s anatomy. All components are made from titanium alloy per ASTM F136.
Contact Information:
Eminent Spine
Dagen Hybner
972-499-3593
Contact via Email
www.eminentspine.com
Read the full story here: https://www.pr.com/press-release/919717
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The Ronto Group Commences Construction of Rosewood Residences Naples
NAPLES, Fla., Sept. 6, 2024 /PRNewswire/ — The Ronto Group announced construction has commenced on Rosewood Residences Naples, a 42-unit, luxury, water-front condominium development on the beach in Naples, Florida. Ronto is developing the project in partnership with Wheelock Street Capital with residential services and operations by world-renowned Rosewood Hotels & Resorts®. Owners will enjoy breathtaking ocean views, an incomparable level of design and best-in-class service and amenities for which Rosewood is known. Rosewood Residences Naples offers an opportunity to treasure a highly serviced lifestyle reflecting Rosewood Residences’ guiding philosophy of enriched living through discovery and cultural connections. Residences range from 4,266 to 9,673 square feet under air and include five penthouses.
Situated in one of Naples’ most coveted neighborhoods, the 1601 Gulf Shore Boulevard North Rosewood Residences Naples site presents one of the world’s most desirable shorelines. Positioned in the heart of 5th Avenue South, Third Street, and the Design District, residents can take full advantage of all that Naples has to offer.
The communal spaces at Rosewood Residences Naples have been carefully curated and considered – a chemistry that invigorates the senses with texture, art, and lighting. The enthralling spaces are art-filled, the experience nuanced – a collection of moments for gathering or quiet escape which are purposeful, confidently executed, and designed by Lillian Wu, principal at Lillian Wu Studio, New York.
Rosewood Residences Naples’ beachside pool deck and multiple beach access points will put all that has made Naples one of the most preferred destinations in the world on display. The property has unobstructed Gulf views and presents an unforgettable vista. Two pools will boast features that include shaded cabanas and lounge seating, firepit areas with seating, and bocce ball courts with shaded trellis seating areas.
Interested parties may request an appointment with the sales team by calling 239.776.3030 or visit 1601gulfshoreblvd.com for the full list of amenities, services, and residences. The Sales Gallery is located at 1400 Gulf Shore Boulevard North, Suite 100.
About The Ronto Group
Since 1967, The Ronto Group has been perfecting their skills in real estate development through the creation of residential and commercial projects worldwide. For nearly forty years, Ronto has been developing in the Southwest Florida market, creating communities that celebrate the area’s irresistible appeal, from Marco Island to Tampa. Ronto and its President and owner Anthony Solomon, have built a solid reputation for imaginative vision, steadfast integrity, and reliable performance.
About Wheelock Street Capital
Wheelock Street Capital L.L.C. is a private real estate investment firm founded in 2008 by Merrick R. Kleeman and Jonathan H. Paul, two veteran real estate private equity investors, each with over 30 years of broad real estate transaction experience across all major asset classes. Wheelock has assembled a premier investment and asset management team and produced an over 10- year track record of demonstrated and consistent outperformance over industry benchmarks. Since inception, Wheelock has raised eight funds, representing over $5 billion in capital commitments and deployed over $11 billion in total value on behalf of well-known institutional investors. This includes a targeted $1.2 billion and $1 billion of capital that the Firm is currently deploying in its opportunistic/value-add vehicle and open- end long-term value vehicle, respectively.
About Rosewood Residences
Rosewood Residences is a collection of properties carefully curated to enrich the lives of all who call them home, and forge deeply personal connections between people and place. In partnership with the best developers, architects and designers, these homes are inspired by their remarkable locations around the world, thoughtfully combining authentic layering and characterful styling to appeal to the cultivated tastes of global prospective owners. Rosewood’s signature service standards are ever-present, building meaningful relationships with owners, inspiring everyday discovery and creating an empowering sense of community. Available for both ownership and rental, these residences can be found within a Rosewood hotel or resort or as standalone properties. Launched in 2008, the portfolio has since evolved to include 11 one-of-a-kind branded residences with an impressive pipeline of over two dozen additional developments to be launched over the next 7 years.
About Rosewood Hotels & Resorts®
Rosewood Hotels & Resorts manages a global collection of 34 one-of-a-kind luxury hotels, resorts and residences in 21 countries. Each Rosewood property embraces the brand’s A Sense of Place® philosophy to reflect the individual location’s history, culture and sensibilities. The Rosewood collection includes some of the world’s most legendary hotels and resorts, including The Carlyle, A Rosewood Hotel in New York, Rosewood Mansion on Turtle Creek in Dallas and Hôtel de Crillon, A Rosewood Hotel in Paris, as well as new classics such as Rosewood Hong Kong and Rosewood São Paulo. For those who wish to stay a little longer, Rosewood Residences offer a distinct opportunity for the ownership or rental of properties co-located with a Rosewood hotel or resort and of standalone for-sale residences. Rosewood Residences are defined by the brand’s commitment to Enriched Living through thoughtful details and experiences that enhance the quality of life while evoking a sense of discovery and inspiration.
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SOURCE The Ronto Group
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Hammond Power Solutions Declares Quarterly Dividend
GUELPH, Ontario, Sept. 06, 2024 (GLOBE NEWSWIRE) — HPS The Board of Directors of Hammond Power Solutions Inc. (“HPS”) declared a quarterly cash dividend of twenty-seven and a half cents ($0.275) per Class A Subordinate Voting Share of HPS and a quarterly cash dividend of twenty-seven and a half cents ($0.275) per Class B Common Share of HPS payable on September 27, 2024, to shareholders of record at the close of business on September 20, 2024. The ex-dividend date is September 20, 2024.
Important Income-Tax Information for Canadian Resident Shareholders
HPS designates the entire amount of this taxable dividend to be an “eligible dividend” for purposes of the Income Tax Act (Canada), as amended from time to time. This notice meets the requirements of the Income Tax Act (Canada). Please contact your tax advisor if you have any questions with regard to the designation of the eligible dividend.
Caution Regarding Forward-Looking Information
This press release contains forward-looking statements, which are not guarantees or assurances of future performance. Because forward-looking statements are related to the future, they are subject to inherent uncertainties, risks and changes in circumstances that may differ materially from those contemplated by the forward-looking statements. Forward-looking statements can generally be identified, but not limited to, the use of words such as “may”, “will”, “could”, “should”, “would”, “likely”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “plan”, “objective” and “continue” and words and expressions of similar import. Although HPS believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. The declaration, timing, amount and payment of any future dividends remains at the discretion of HPS’ Board of Directors. HPS undertakes no obligation to publicly update any forward-looking statement, except as required by applicable securities laws.
ABOUT HAMMOND POWER SOLUTIONS INC.
Hammond Power Solutions Inc. (“HPS” or the “Company”) enables electrification through its broad range of dry-type transformers, power quality products and related magnetics. HPS’ standard and custom-designed products are essential and ubiquitous in electrical distribution networks through an extensive range of end-user applications. The Company has manufacturing plants in Canada, the United States (U.S.), Mexico and India and sells its products around the globe. HPS shares are listed on the Toronto Stock Exchange and trade under the symbol HPS.A.
Hammond Power Solutions – Energizing Our World
For further information, please contact:
David Feick
Investor Relations
(519) 822-2441 x453
ir@hammondpowersolutions.com
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Yardi Announces Strategic Partnership with Boundary Stone Partners
BSP will position Yardi as a key player in clean energy and accelerate the success of Home Energy Rebates and Solar for All Programs
SANTA BARBARA, Calif., Sept. 6, 2024 /PRNewswire/ — Leading property management software company, Yardi® is proud to announce its working strategic partnership with Boundary Stone Partners (BSP), a climate-focused strategic advisory and government affairs firm known for creating policy opportunities and driving outcomes.
Through their work together, BSP will focus on strategically guiding Yardi through the Home Rebate landscape, applying the policy expertise necessary to position their Energy Relief solution as the leading rebate management platform for states, territories and Tribes.
Yardi launched Energy Relief as a comprehensive solution to administer programs under the Inflation Reduction Act of 2022 (IRA). These programs include the Home Efficiency Rebates (HER), Home Electrification and Appliance Rebates (HEAR), Solar for All and other initiatives. All are targeted towards low- and moderate-income Americans and make clean energy more accessible.
Yardi leveraged its 40 years of experience in multifamily asset and property management technology to quickly and successfully administer programs such as Low-Income Housing Energy Assistance (LIHEAP), Homeowner Assistance Fund (HAF) and Emergency Rental Assistance (ERA). Since 2021, more than $3 billion in assistance payments were processed through Yardi’s technology and services for these programs.
Building on this success, Yardi will apply its expertise in the real estate and energy industries to help states implement and support the Home Energy Rebates and Solar for All programs. By partnering with BSP’s team of policy experts, Yardi is well positioned to secure the support needed to implement Energy Relief, expand its market presence and strengthen its reputation as a trusted leader in clean energy initiatives.
“Boundary Stone Partners is an ideal partner to help us promote energy-efficient housing solutions,” said Jeff Bischoff, senior director of sales at Yardi. “Their expertise in government policy and strategic guidance will be invaluable as we navigate the Home Energy Rebate Programs and Greenhouse Gas Reduction Fund. We’re eager to bolster our partnership and advance these initiatives with a trusted ally.”
This collaboration highlights a commitment to sustainable housing solutions while making clean energy accessible to more people.
“Boundary Stone Partners is thrilled to collaborate with Yardi on these critical initiatives,” said Rachael Grace, vice president at BSP. “Our goal is to guide Yardi through the complex rebates landscape and ultimately benefit low-and moderate-income households nationwide.”
To learn more about Yardi Energy Relief and how it can help implement programs under the IRA, visit: info.yardi.com/energy-relief.
About Boundary Stone Partners
Boundary Stone Partners (BSP) is the leading climate change strategic advisory and government affairs firm working at the intersection of technology, finance, and policy. dedicated to helping companies navigate political policies. BSP works with the public and private sectors as a strategic partner for public policy design, government affairs and lobbying, regulatory and political intelligence, and federal funding and finance. To learn more, visit boundarystone.com.
About Yardi
Celebrating its 40-year anniversary in 2024, Yardi® develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. With over 9,500 employees, Yardi is working with clients globally to drive innovation in the real estate industry. Yardi received the 2024 ENERGY STAR® Partner of the Year award from the U.S. Environmental Protection Agency (EPA) and the U.S. Department of Energy for the sixth consecutive year since 2019. For more information on how Yardi is Energized for Tomorrow, visit yardi.com.
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