EIG Veteran Equity Aggregator sold 2,776,383 shares of USAC at $23.00 (50.2% of holdings) for $63.9M on 2024-06-14.
EIG Veteran Equity Aggregator executed a substantial reduction in its USAC position, selling 2,776,383 shares (50.2% of pre-transaction holdings) at $23.00, reducing its stake from 5,530,698 shares to 2,754,315 shares. This high-volume transaction occurred as the stock trades at $24.12 currently, -14.6% from its 52-week high of $28.24, and follows a 90-day decline of -14.4%. The insider's cross-ticker track record shows a 90d well-timed rate of 9.09% across 20 prior sells, but at USAC specifically, 0 of 0 measurable 90-day outcomes on prior sells were well-timed; the most recent USAC sale on 2024-05-17 showed -3.1% at the 30-day mark. The company's fundamentals remain steady with revenue growth of +20.1% year-over-year and net income of $23,573,000.00 on quarterly revenue of $229,276,000.00, though the elevated P/E of 34.96 reflects market expectations. This magnitude of reduction in holdings by a major shareholder, combined with the mixed track record at this ticker and recent price weakness, warrants investor scrutiny of whether the insider's assessment of valuation has shifted.