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It was revealed in a recent SEC filing that Joseph B Hayek, EVP and CFO at Worthington Enterprises WOR made a noteworthy insider purchase on October 15,.

What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission on Tuesday showed that Hayek purchased 2,500 shares of Worthington Enterprises. The total transaction amounted to $100,525.

The latest update on Wednesday morning shows Worthington Enterprises shares down by 0.0%, trading at $40.31.

Discovering Worthington Enterprises: A Closer Look

Worthington Enterprises Inc is a designer and manufacturer of products sold to consumers, through retail channels, in the tools, outdoor living and celebrations market categories as well as a wide array of specialized building products that serve customers in the residential and non-residential construction markets, including ceiling suspension systems and light gauge metal framing products, as well as wholly-owned and consolidated operations that produce pressurized containment solutions for heating, cooking and cooling applications, among others. It operates under two reportable operating segments: Consumer Products and Building Products. It derives majority of the revenue from Building Products segment.

Worthington Enterprises: Delving into Financials

Revenue Growth: Worthington Enterprises’s revenue growth over a period of 3 months has faced challenges. As of 31 August, 2024, the company experienced a revenue decline of approximately -17.51%. This indicates a decrease in the company’s top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Consumer Discretionary sector.

Profitability Metrics:

• Gross Margin: The company issues a cost efficiency warning with a low gross margin of 24.29%, indicating potential difficulties in maintaining profitability compared to its peers.

• Earnings per Share (EPS): Worthington Enterprises’s EPS lags behind the industry average, indicating concerns and potential challenges with a current EPS of 0.49.

Debt Management: Worthington Enterprises’s debt-to-equity ratio is below the industry average. With a ratio of 0.36, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.

Evaluating Valuation:

• Price to Earnings (P/E) Ratio: The current Price to Earnings ratio of 62.98 is higher than the industry average, indicating the stock is priced at a premium level according to the market sentiment.

• Price to Sales (P/S) Ratio: The current P/S ratio of 1.71 is above industry norms, reflecting an elevated valuation for Worthington Enterprises’s stock and potential overvaluation based on sales performance.

• EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation & Amortization): A high EV/EBITDA ratio of 16.2 reflects market recognition of Worthington Enterprises’s value, positioning it as more highly valued compared to industry peers.

Market Capitalization: Indicating a reduced size compared to industry averages, the company’s market capitalization poses unique challenges.

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Uncovering the Importance of Insider Activity

While insider transactions provide valuable information, they should be part of a broader analysis in making investment decisions.

When discussing legal matters, the term “insider” refers to any officer, director, or beneficial owner holding more than ten percent of a company’s equity securities, as stipulated in Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and significant hedge funds. Such insiders are required to report their transactions through a Form 4 filing, which must be completed within two business days of the transaction.

A new purchase by a company insider is a indication that they anticipate the stock will rise.

On the other hand, insider sells may not necessarily indicate a bearish view and can be motivated by various factors.

Deciphering Transaction Codes in Insider Filings

When dissecting transactions, the focal point for investors is often those occurring in the open market, meticulously detailed in Table I of the Form 4 filing. A P in Box 3 denotes a purchase, while S signifies a sale. Transaction code C indicates the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.

Check Out The Full List Of Worthington Enterprises’s Insider Trades.

Insider Buying Alert: Profit from C-Suite Moves

Benzinga Edge reveals every insider trade in real-time. Don’t miss the next big stock move driven by insider confidence. Unlock this ultimate sentiment indicator now. Click here for access.

This article was generated by Benzinga’s automated content engine and reviewed by an editor.

NEWTON, Mass., Oct. 16, 2024 (GLOBE NEWSWIRE) — Paytronix, the leader in guest engagement for restaurants and convenience stores, today unveiled the much-anticipated 2024 Paytronix Gift Card Trend Report. It’s most robust to date, it finds that while the number of cards sold in 2023 is on par with 2022, overall revenue from gift card sales is up four percent year over year. Among Paytronix clients, the number of digital gift cards sold grew 7% in 2023 to make up 34% of the total gift card market and become the fastest-growing gift card segment

Download the 2024 Paytronix Gift Card Report for all the numbers and insights.

“Forward-thinking restaurants are embracing digital gift cards, offering seamless purchasing, sending, redemption, and reloading experiences through mobile apps and websites,” said Lee Barnes, the Chief Data Officer of Paytronix. “In our latest report we’re helping brands understand that, by viewing gift cards as more than just a sales channel, they can expand their reach, empower their advocates, drive loyalty, and create personalized experiences that keep guests coming back for more.”

Adopting a Mobile-First Strategy
The report explores why a mobile-first approach to digital gift cards is becoming increasingly important for restaurants. Mobile gift cards can easily integrate with a restaurant’s existing app, loyalty program, and online ordering system. This cohesion creates a unified digital ecosystem that deepens a guests’ experiences and keeps their favorite establishment at their fingertips.

Mobile gift cards seamlessly merge with popular digital wallets like Apple Pay and Google Pay, allowing guests to easily store and access their gift cards for online orders and in-store purchases via NFC or QR code scans. A mobile-first approach to gift cards also provides valuable data on customer behaviors and preferences that can be used to create personalized promotions, fine-tune a loyalty program, and guide strategic business decisions.

Key findings from the report include:

Digital Cards Redeemed Twice as Fast – While unredeemed gift cards may seem profitable in the short term, encouraging swift redemption can cultivate lifelong customers. Report data reveals that the average online card was redeemed in 16.8 days, while cards purchased in-store took 35.3 days for redemption.

Increasing Sales – Year-over-year gift card sales continue to increase with 2023 revenue up 6 percent over 2022. Digital gift cards grew the most with sales up 229% between 2019 and 2023. Gift card growth among full-service restaurants (FSRs) also jumped with sales up around 1% (2022, 2,259,621 to 2023 2,342,083).

Most Popular – By far the most popular denomination are $25 cards, which made up 34% of cards sold in 2023. But $50 cards were the biggest mover with an increase of 17% in sales.

Holiday Sales – Year-over-year change in holiday gift cards were up five percent, with 80 percent of all physical gift cards, both in-store and third-party, sold in November and December.

Methodology
The 2024 Paytronix Gift Card Report draws on data sourced from aggregate gift card sales for 241 merchants continually operating gift card programs between January 1, 2019 and December 31, 2023. These merchants all had at least six months of gift card sales data starting in July 2018.

About Paytronix
Paytronix is the leader in Digital Customer Engagement for restaurants, convenience stores, and other retailers who seek to build lasting guest relationships. Paytronix continually advances digital guest engagement by developing technologies that uncover new insights about guest attitudes and behaviors that create brand preferences. For more information visit Paytronix.com.

Media Contact:
Calen McGee
Paytronix Systems, Inc.
cmcgee@paytronix.com
646-957-7758

TORONTO, Oct. 16, 2024 (GLOBE NEWSWIRE) — The Alcohol and Gaming Commission of Ontario (AGCO) has issued NorthStar Gaming (Ontario) Inc., a registered internet gaming operator, an Order of Monetary Penalty totalling $30,000 for failing to ensure that their site, NorthStarBets.ca, is accessible only to players in Ontario and other violations.

To protect the integrity and legality of Ontario’s gaming sector, games on gaming sites registered in Ontario may only be provided within Ontario unless they are conducted in conjunction with the government of another province. As part of its ongoing compliance monitoring of the gaming sector, AGCO identified the issue with NorthStarBets.ca during a proactive, third-party assessment it undertook of registered internet gaming operators.

As part of the assessment, tests were conducted from physical locations in Quebec and New York state to determine whether Ontario gaming sites were accessible outside of Ontario. During the assessment, NorthStarBets.ca failed to accurately identify the location of one of the devices. The AGCO is further citing the operator for its repeated failure to provide the Registrar with data, information and documents requested in a timely manner as required.

In addition to the penalty, the AGCO is continuing to engage with the operator to ensure the issues are appropriately addressed. Failure to do so may result in further enforcement action.

Operators served with an Order of Monetary Penalty have the right to appeal the Registrar’s action to the Licence Appeal Tribunal (LAT), an adjudicative tribunal independent of the AGCO and part of Tribunals Ontario.

QUOTES

“Ontario’s gaming sector is carefully regulated to ensure it’s conducted legally and with the public interest in mind. The AGCO will continue to take all appropriate steps to ensure that regulated gaming sites are operated with integrity and within the province’s legal framework.”

Dr. Karin Schnarr, Chief Executive Officer and Registrar – AGCO

ADDITIONAL INFORMATION

Contrary to section 3.8 of the Gaming Control Act, (GCA) NorthStar Gaming (Ontario) Inc. is alleged to have failed to comply with the following provisions of the Registrar’s Standards for Internet Gaming :

Media Contact

AGCO Communications
media@agco.ca

About the AGCO

The Alcohol and Gaming Commission of Ontario (AGCO) is an Ontario provincial regulatory agency reporting to the Ministry of the Attorney General (MAG). It is a corporation under the Alcohol and Gaming Commission of Ontario Act, 2019.

In a new SEC filing on October 15, it was revealed that Larsen, Senior Vice President at Williams Companies WMB, executed a significant exercise of company stock options.

What Happened: Larsen, Senior Vice President at Williams Companies, made a strategic move by exercising stock options for 1,458 shares of WMB as detailed in a Form 4 filing on Tuesday with the U.S. Securities and Exchange Commission. The transaction value amounted to $2,551.

Williams Companies shares are trading, exhibiting down of 0.0% and priced at $50.9 during Wednesday’s morning. This values Larsen’s 1,458 shares at $2,551.

All You Need to Know About Williams Companies

Williams Companies is a midstream energy company that owns and operates the large Transco and Northwest pipeline systems and associated natural gas gathering, processing, and storage assets. In August 2018, the firm acquired the remaining 26% ownership of its limited partner, Williams Partners.

Williams Companies: Delving into Financials

Revenue Growth: Williams Companies’s revenue growth over a period of 3 months has faced challenges. As of 30 June, 2024, the company experienced a revenue decline of approximately -5.92%. This indicates a decrease in the company’s top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Energy sector.

Profitability Metrics: Unlocking Value

• Gross Margin: The company maintains a high gross margin of 58.01%, indicating strong cost management and profitability compared to its peers.

• Earnings per Share (EPS): Williams Companies’s EPS is below the industry average. The company faced challenges with a current EPS of 0.33. This suggests a potential decline in earnings.

Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 2.14.

Navigating Market Valuation:

• Price to Earnings (P/E) Ratio: Williams Companies’s stock is currently priced at a premium level, as reflected in the higher-than-average P/E ratio of 21.94.

• Price to Sales (P/S) Ratio: With a relatively high Price to Sales ratio of 5.95 as compared to the industry average, the stock might be considered overvalued based on sales performance.

• EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation & Amortization): At 12.13, the company’s EV/EBITDA ratio outperforms industry norms, reflecting positive market perception. This positioning indicates optimistic expectations for the company’s future performance.

Market Capitalization Analysis: With an elevated market capitalization, the company stands out above industry averages, showcasing substantial size and market acknowledgment.

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Why Insider Transactions Are Key in Investment Decisions

Emphasizing the importance of a comprehensive approach, considering insider transactions is valuable, but it’s crucial to evaluate them in conjunction with other investment factors.

When discussing legal matters, the term “insider” refers to any officer, director, or beneficial owner holding more than ten percent of a company’s equity securities, as stipulated in Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and significant hedge funds. Such insiders are required to report their transactions through a Form 4 filing, which must be completed within two business days of the transaction.

A new purchase by a company insider is a indication that they anticipate the stock will rise.

On the other hand, insider sells may not necessarily indicate a bearish view and can be motivated by various factors.

Transaction Codes Worth Your Attention

In the domain of transactions, investors frequently turn their focus to those taking place in the open market, as meticulously outlined in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.

Check Out The Full List Of Williams Companies’s Insider Trades.

Insider Buying Alert: Profit from C-Suite Moves

Benzinga Edge reveals every insider trade in real-time. Don’t miss the next big stock move driven by insider confidence. Unlock this ultimate sentiment indicator now. Click here for access.

This article was generated by Benzinga’s automated content engine and reviewed by an editor.

Charles Schwab Corporation SCHW reported better-than-expected third-quarter results on Tuesday and analysts are weighing in. 

The Details: Charles Schwab saw revenue rise 5% to $4.85 billion with clients’ daily average trades growing 9% year-over-year.

JPMorgan analyst Kenneth Worthington pointed to Schwab as a leading brand for retail financial services and ​said its large and engaged base of retail investors should continue to drive growth for the company. JP Morgan maintained its Overweight rating on Schwab shares and raised its price target from $86 to $87. 

Cash Sweep Balances: Worthington noted Schwab’s September transactional cash sweep balances experienced a large uptick and expects average earning assets and average transaction-based cash levels likely to be flat to higher in the fourth quarter. 

Piper Sandler analysts also highlighted Schwab’s $17.2 billion increase in transactional cash balances in September as the highest month-over-month increase since the Fed began hiking rates in early 2022.

Piper Sandler’s Patrick Moley maintained a Neutral rating on the stock, but raised the price target from $64 to $65 as he remains “cautiously optimistic this trend can directionally continue in the coming quarters.”

See Also: Amazon Analyst Expects Q3 Earnings With Revenue Growth, Margin Expansion, Relative Stable E-Commerce Demand

Goldman Sachs analyst Alexander Blostein was less optimistic and sees cash sweep balances declining in October.  Blostein sees Schwab’s potential downside risks to include faster-than-expected core deposit outflows, Ameritrade-related attrition and lower retail trading activity. Goldman Sachs maintained a Neutral rating, but raised the price target on Charles Schwab stock from $67 to $74. 

“Although October sweep balances are likely to decline, we are encouraged by signs of further stabilization in sweep deposits which should be well-received by investors,” Blostein wrote. 

JMP Securities analyst Devin Ryan cautioned that client transactional cash trends “can be lumpy from month to month.” However, Charles Schwab’s latest results are evidence of “stabilizing-to-inflecting cash trends.” That’s a key focus for investors.

JMP Securities maintained a Market Outperform rating on Charles Schwab and raised the price target from $82 to $84.

Price Action: According to Benzinga Pro, Charles Schwab shares are up 0.96% at $72.65 at the time of publication Wednesday.

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Image: Shutterstock 

Small-cap stocks outperformed large caps in Wednesday’s session, with the Russell 2000 Index surging to test July 2024 highs on the back of expectations for interest rate cuts and a strong rally in regional banks.

Financial stocks continued their upward momentum, buoyed by strong earnings reports. Morgan Stanley MS significantly beat expectations, propelling its stock up by 8% to new all-time highs.

Regional banks, as tracked by the SPDR S&P Regional Banking ETF KRE, rallied 2.1%, hitting levels last seen in early March 2023, prior to the fallout of Silicon Valley Bank.

Airlines also soared, with United Airlines Holdings Inc. UAL posting an 11% rally. The surge lifted the entire industry, as tracked by the U.S. Global Jets ETF JETS, which reached its highest level since July 2023.

The tech sector lagged, weighed down by weak performance in semiconductors. The industry was still reeling from ASML Holding N.V. ASML’s earnings shock on Tuesday, after the company slashed its 2025 revenue outlook, triggering a broad selloff in chipmakers.

Both the Nasdaq 100 and semiconductor stocks remained flat on Wednesday.

In the currency market, the U.S. Dollar Index was poised to log its 12th positive day in the last 13 sessions. Treasury yields edged lower. Oil prices saw a slight decline of 0.6%, with West Texas Intermediate (WTI) crude falling below $70 per barrel.

Precious metals offered positive signals, with gold set to close its fifth consecutive day of gains, while silver rose 0.8%.

In the cryptocurrency space, Bitcoin BTC/USD advanced 1%, reaching $68,000 — its highest level since late July 2024.

According to Benzinga Pro data:

• The SPDR S&P 500 ETF Trust SPY rose 0.2% to $580.82.
• The SPDR Dow Jones Industrial Average DIA inched 0.6% higher to $429.93.
• The tech-heavy Invesco QQQ Trust Series QQQ fell 0.2% to $489.94.
• The iShares Russell 2000 ETF IWM rallied 1.8% to $226.77.
• The Utilities Select Sector SPDR Fund XLU outperformed, up 1.4%. The Communication Services Select Sector SPDR Fund XLC lagged, down 0.3%.

Wednesday’s Stock Movers

• Interactive Brokers Group Inc. IBKR fell over 3% after missing earnings estimate.
• Other stocks reactive to company earnings included United Airlines Holdings Inc. UAL, up 11.5%, J.B. Hunt Transport Services Inc. JBHT, up 3.5%, Abbott Laboratories ABT, up 1.7%, Morgan Stanley MS, up 7.6%, U.S. Bancorp USB, up 4.7% and Citizens Financial Group Inc. CFG.
• ASML Holding N.V. fell over 5% after dropping 17% on Tuesday in reaction to dismal revenue outlook.
• Companies set to report their earnings after the close include CSX Corp. CSX, Kinder Morgan Inc. KMI, Discover Financial Services DFS, Equifax Inc. EFX, Steel Dynamics Inc. STLD and Alcoa Corp. AA.

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Photo via Shutterstock.

A pivotal economic release is set to land this Thursday at 8:30 a.m. ET: the retail sales report for September.

This data will provide a fresh snapshot of household spending during the final month of the third quarter, offering vital clues as to whether American consumers continued to prop up the broader economic growth.

Retail sales are projected to rise by 0.3% month-over-month (m/m) in September, as per TradingEconomics consensus, marking a modest improvement from the 0.1% uptick seen in August.

Some Wall Street analysts are forecasting even stronger results. Bank of America is predicting a more robust performance, with headline retail sales potentially climbing by 0.8% for the month.

“We forecast above-consensus gains of 0.7% and 0.8% in the Census Bureau’s September estimates for retail sales excluding autos and the core control group,” said Aditya Bhave, economist at Bank of America.

“This week’s retail sales report should continue the run of hot data,” Bhave added. “A report like the one we are forecasting would be significant, since it would come on the back of very encouraging GDP and GDI revisions and a gangbusters September jobs report.”

Bank of America anticipates significant gains in spending categories like department stores, up 2.4% m/m, general merchandise, up 2.2% m/m and clothing, up 1.5%.

A robust retail sales report for September would add to the narrative that the U.S. economy is in no immediate danger of a slowdown.

The idea of a “no landing” scenario, in which the economy neither contracts sharply (a hard landing) nor cools down significantly (a soft landing), is gaining traction.

The latest data points, including the blowout 336,000 jobs added in September and stronger-than-expected GDP figures, suggest that the economy may be re-accelerating rather than slowing down.

“If retail sales accelerate considerably, in our view, the narrative may shift further toward ‘no landing’ or even re-acceleration,” Bhave added.

“‘No landing’ is bullish for stocks, in our view, as long as inflation doesn’t flare up,” Ohsung Kwon, CFA, equity analyst at Bank of America, said.

The S&P 500 Index, tracked by the SPDR S&P 500 ETF Trust SPY, rose 0.4% during Wednesday afternoon trading in New York, sitting just 0.4 percentage points below its record high set on Monday.

Bank of America indicated that Hurricane Helene had a short-term impact on spending in parts of the southeastern U.S., including Florida, Georgia, North Carolina and South Carolina.

Card spending growth dipped in those states during the storm’s immediate aftermath, although the effect was temporary.

In the lead-up to the hurricane, there was also a notable surge in grocery spending in these areas as households prepared for the storm.

Despite the potential for strong retail sales growth, analysts at Bank of America suggest it is unlikely to alter the Fed’s current trajectory, at least in the near term.

“With policy rates still close to 5%, we think the Fed will feel comfortable cutting a few more times — two to four, perhaps — even if labor and economic activity data remain strong, as long as disinflation continues,” Bhave said.

Read Now:

Photo: Shutterstock

PENSACOLA, Fla., Oct. 16, 2024 /PRNewswire/ — Prominently featured in The Inner Circle, Charles S. Liberis is acknowledged as a Pinnacle Professional Member for his contributions to Leading Legal Expertise in Real Estate.

Charles S. Liberis is a prominent figure in the legal community, renowned for his expertise in real estate law and his commitment to providing exceptional legal services. As the founder of The Liberis Law Firm, PA, Mr. Liberis offers a comprehensive range of legal services, including business litigation, business transactions, estate planning, wealth management, and a primary focus on real estate matters.

A graduate of Stetson University and Stetson University College of Law, Mr. Liberis brings a wealth of knowledge and experience to his practice. His expertise in real estate extends to areas such as real estate development and transactions, condominium and association law, and real estate litigation.

In addition to his legal practice, Mr. Liberis is actively involved in professional and community organizations. He is affiliated with the Florida Bar Association and engages in various local and charitable activities, demonstrating his commitment to serving his community.

Throughout his career, Mr. Liberis has achieved significant milestones, including taking two companies public, showcasing his expertise and leadership in the legal and business realms.

Mr. Liberis’s dedication to his clients and his profession has earned him recognition, including being named to the prestigious 2019 Inweekly Power List, which celebrates the most influential individuals in the Greater Pensacola area.

Outside of his legal endeavors, Mr. Liberis enjoys traveling and gaining new experiences, enriching his perspective and enhancing his ability to serve his clients effectively.

Inspired by his mentor, Congressman Robert L. F. Sikes, Mr. Liberis emphasizes the importance of practical experience in the legal profession, guiding his philosophy and approach to legal practice.

Looking ahead, Mr. Liberis remains committed to providing exceptional legal services and ensuring the well-being of his clients at The Liberis Law Firm, PA. His future projections are grounded in his dedication to excellence and his passion for serving the Board of Overseers of the Stetson University College of Law and other legal needs of his community.

Contact: Katherine Green, 516-825-5634, editorialteam@continentalwhoswho.com

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SOURCE The Inner Circle