Tejon Ranch director Geoffrey Stack sells $32,800 in stock

Geoffrey L. Stack, a director at Tejon Ranch Co. (NYSE:TRC), recently sold 2,000 shares of the company's common stock. The shares were sold at an average price of $16.40, amounting to a total transaction value of $32,800. Following this sale, Stack retains ownership of 95,882 shares, with 67,544 shares held indirectly in a Non-Qualified Deferred Compensation Plan Trust and 28,338 shares owned directly.

These transactions were reported in a Form 4 filing with the Securities and Exchange Commission and were executed as part of a prearranged trading plan.

In other recent news, Tejon Ranch Co. announced significant changes to its Board of Directors. The company has appointed Eric Speron as a new director following a Support Agreement with Nitor Capital Management and David J. Spier. The agreement also sets a standstill period, during which Nitor, a significant shareholder of Tejon Ranch Co., has agreed to certain commitments. Should Speron be unable to serve during this period, Nitor will have the opportunity to recommend a replacement director, provided it maintains a specific level of ownership.

On a related note, Tejon Ranch Co. is preparing for the retirement of long-standing director Geoffrey L. Stack. Stack, who has been with the company since 1998, has made significant contributions to the company's growth, particularly in his roles on various committees including the Committee, the Audit Committee, and the Compensation Committee. His departure will mark the end of a 26-year tenure with the company.

These developments are part of the recent changes within Tejon Ranch Co., reflecting a period of transition in its leadership.

InvestingPro Insights

As Geoffrey L. Stack reduces his stake in Tejon Ranch Co. (NYSE:TRC), investors might be curious about the company's financial health and market position. According to InvestingPro data, Tejon Ranch has a market capitalization of $432.92 million, reflecting its status as a relatively small-cap company. The stock's price-to-book ratio of 0.92 suggests that it may be trading below its book value, potentially indicating an undervalued position.

However, Tejon Ranch faces some financial challenges. The company's revenue for the last twelve months as of Q3 2023 stood at $40.12 million, with a concerning revenue decline of 12.83% over the same period. This aligns with an InvestingPro Tip indicating that analysts anticipate a sales decline in the current year.

Another InvestingPro Tip highlights that Tejon Ranch suffers from weak gross profit margins. This is evident in the reported gross profit margin of -4.57% for the last twelve months, signaling potential difficulties in maintaining profitability.

For investors seeking a more comprehensive analysis, InvestingPro offers 7 additional tips for Tejon Ranch, providing deeper insights into the company's financial situation and market prospects.

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