The VP Finance & CFO of Methode Electronics (NYSE: MEI) is Selling Shares

By Carrie Williams

Yesterday, the VP Finance & CFO of Methode Electronics (MEIResearch Report), Ronald Tsoumas, sold shares of MEI for $458.8K.

Following Ronald Tsoumas’ last MEI Sell transaction on December 17, 2015, the stock climbed by 8.4%. This is Tsoumas’ first transaction since reporting a Sell transaction on MEI back in December 2015

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Based on Methode Electronics’ latest earnings report for the quarter ending October 31, the company posted quarterly revenue of $301 million and quarterly net profit of $38.6 million. In comparison, last year the company earned revenue of $257 million and had a net profit of $23.8 million. MEI’s market cap is $1.43 billion and the company has a P/E ratio of 11.10. Currently, Methode Electronics has an average volume of 155.56K.

The insider sentiment on Methode Electronics has been negative according to 32 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

Ronald Tsoumas’ trades have generated a 39.7% average return based on past transactions. DailyInsider proprietary algorithm detects trades by the most influential insiders and selects attractive trading opportunities daily. To subscribe to the DailyInsider visit this page.

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Methode Electronics, Inc. engages in the manufacture of component and subsystem devices. It operates through the following segments: Automotive, Interface, Industrial, and Medical. The Automotive segment supplies electronic and electromechanical devices, and related products to automobile original equipment manufacturers. The Interface segment provides a variety of copper and fiber-optic interface and interface solutions for the aerospace, appliance, commercial food service, construction, consumer, material handling, medical, military, mining, point-of-sale, and telecommunications markets. The Industrial segment manufactures external lighting solutions, industrial safety radio remote controls, braided flexible cables, current-carrying laminated busbars, and devices. The Medical segment refers to the medical device business. The company was founded by William Joseph McGinley in 1946 and is headquartered in Chicago, IL.