First Quarter In The Bag: A Look At All The Milestones 1847 Holdings Hit So Far This Year - Seite 2

1847 has also been active on the profit-booking front. It recently engaged Spartan Capital Securities, LLC., to pursue a potential spinoff of 1847 Cabinets Inc., a designer, manufacturer and installer of cabinets, doors and millwork for residential construction. 1847 aims to capitalize on the growth and outlook for the company by either a spin-off of 1847 Cabinets into a separate publicly traded company or a sale to a well-paying suitor. 1847 is hoping to replicate the success it had with 1847 Goedeker's. In April 2019, 1847 paid $6.5 million for the online purveyor of appliances, furniture and home goods. By June of 2021 when it went public, the company was valued at roughly $60 million.

Its ICU Eyewear Holdings Inc. subsidiary also grew during the quarter, recently adding two additional manufacturing partners in the Philippines and the U.S. ICU reports it was able to secure favorable rates and eliminate certain tariffs, which it said should "significantly" reduce its cost of goods. The move also reduces its reliance on production in China and enhances operations, which not only makes it more efficient but potentially a more attractive acquisition target, the company said.

CEO Acquires Common Shares At $3.30

CEO Roberts demonstrated his faith in 1847 by purchasing shares of the company's stock in the first quarter. Roberts paid $3.30 per share to acquire 154,364 shares in early March, after acquiring 6,251 shares in late January for $1.353 a share. All told, Roberts owns 169,648 shares in the company he created. When insiders, namely CEOs, buy shares of their company it signals executives have confidence in the business and/or think the stock is undervalued. It's something investors pay close attention to. If insiders were selling shares rather than purchasing them, it could be a red flag that something is amiss.

It's been a busy three months for 1847, and more moves are expected in the months to come. After all, the PE firm is paying down debt, shoring up capital and positioning its portfolio companies for potentially successful exits or to grow internally. What more can investors ask for?

Featured photo by Scott Graham on Unsplash.

Contact:
Ellery Roberts
[e-mail]

SOURCE: 1847 Holdings LLC

View the original press release on accesswire.com


The 1847 Holdings LLC Stock at the time of publication of the news with a fall of -20,60 % to 1,850USD on NYSE Arca stock exchange (18. April 2024, 02:04 Uhr).