CLO Leanne Fitzgerald sells 73,167 shares of ACVA at $18.85; reduces stake to 377,071 shares amid ongoing losses
Leanne Fitzgerald, Chief Legal Officer, sold 73,167 shares at $18.85 on 2024-08-20, reducing her holdings by 16.3% to 377,071 shares and generating $1,379,197.95 in proceeds. The sale occurs while the company reported a net loss of $-17,063,000.00 in the latest quarter and an annual net income that was negative over the most recent full fiscal year, despite 14.2% annual revenue growth to $160,624,000.00. The transaction price of $18.85 is within the 52-week range and 3.4% below the 52-week high of $19.32, placing the sale in the upper portion of recent trading activity. The magnitude of the position reduction—eliminating over one-sixth of her holdings—combined with persistent unprofitability at the company, warrants investor attention to understanding the timing and rationale for this stake reduction by a senior legal officer.