Matthew David Feierstein, President of EverCommerce Inc. (NASDAQ:EVCM), recently made a number of stock transactions, according to a filing with the Securities and Exchange Commission. On January 2, 2025, Feierstein sold 20,401 shares of common stock at a weighted average price ranging from $10.70 to $11.03, for a total of approximately $220,660. The next day, he sold an additional 4,599 shares at a weighted average price between $10.76 and $10.97, for a total of approximately $49,970. The transactions occurred as the stock traded near $11, with a market cap of $2 billion. According to InvestingPro analysis, the company appears to be undervalued based on its fair value metrics.
Furthermore, on January 1, 2025, Feierstein sold 1,474 shares to cover tax liabilities associated with the vesting of Restricted Stock Units, valued at $10.75 per share, for a total of $15,845. Following these transactions, Feierstein directly holds 2,212,695 shares, with an additional 150,000 shares held indirectly by a family trust. Although the company is not currently profitable, InvestingPro data shows that analysts expect profitability this year. Subscribers can access detailed financial health indicators and 8 additional ProTips on EVCM’s performance and outlook in the comprehensive Pro Research Report.
In other recent news, EverCommerce Inc., a software services provider, successfully renegotiated their existing debt, refinancing their $533.5 million term loan. This strategic move was intended to reduce the applicable margin by 50 basis points for all term loans, simplifying the borrowing costs associated with these loans. This financial restructuring, facilitated by Royal Bank of Canada, is expected to provide EverCommerce with a more favorable interest rate on its debt obligations.
EverCommerce also reported a slight increase in its earnings in the third quarter of 2024, with total revenue reaching $176.3 million, an increase of 0.9% year-over-year. The company’s adjusted EBITDA rose to $44.5 million, indicating a margin of 25.3%. Looking ahead, EverCommerce expects fourth quarter 2024 revenue to be between $168 million and $172 million, with adjusted EBITDA of $43 million to $46 million.
Along with its financial performance, EverCommerce continues to explore M&A opportunities as it aims to re-accelerate organic growth in 2025 and beyond. These recent developments underscore EverCommerce’s efforts to maintain financial health and continue strategic growth.
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