CEO Michael Benstock bought 10,000 SGC shares at $13.45; stock now $13.49, down 37.8% from 52-week high, amid cluster buy from 2 other insiders in past 14 days.
Michael Benstock, CEO of Superior Group of Companies, purchased 10,000 shares at $13.45 on 2024-08-16, increasing his holdings from 573.8K to 583.8K shares. The stock has declined 31.8% over 30 days and trades 37.8% below its 52-week high of $21.69, providing a depressed entry point. Notably, 2 other insiders also bought within the past 14 days, suggesting coordinated action during a sharp downturn. However, Benstock's own prior trades at SGC (5 buys from May 2023) showed mixed timing results: only 2 of 5 achieved positive 90-day returns, with an average 90-day return across those 5 trades of just -0.8%. The fundamental backdrop remains challenged: annual revenue declined 6.1% year-over-year, net income stood at only $600.0K on $131.7M revenue, and the P/E multiple of 20.13 suggests limited margin of safety at current levels despite the recent price weakness.