Cactus CEO Scott Bender Sold $732K of Stock Two Days Before Blowout Q2 Earnings
WHD sits 58% above its 52-week low of $33.2.
Summary
Cactus CEO Scott Bender sold $732K of stock at $55.07 on July 27, two days before the company reported blowout Q2 earnings that beat estimates by over $50M. The sale was not under a 10b5-1 plan.
Key Events · Ownership and Investor Activity · WHD
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CEO Open Market Sale
Chairman and CEO Scott Bender sold 13,300 shares for $732,391 at $55.07 on July 27, two days before Cactus reported Q2 earnings that beat consensus by over $50M. The sale was not under a 10b5-1 plan.
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Entity Redemption and Grant
Bender Investment Company, controlled by Scott Bender, redeemed 100,000 Units and corresponding Class B shares for 100,000 Class A shares, and received a grant of 100,000 new Units. These are non-cash structural moves with no immediate market impact.
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Timing Raises Questions
The sale occurred on July 27, just two days before the July 29 earnings release that sent shares higher. The absence of a 10b5-1 plan means the trade was discretionary, potentially inviting scrutiny.
Analysis · WHD · Energy & Transportation
Chairman and CEO Scott Bender sold 13,300 shares for $732,391 at $55.07 on July 27, just two days before Cactus reported Q2 results that crushed estimates — revenue of $449.5M beat consensus by over $50M and adjusted EBITDA of $132.8M topped expectations. The sale was not under a 10b5-1 plan, raising questions about timing. The filing also shows a complex redemption by Bender Investment Company, a Bender-controlled entity, exchanging 100,000 Units and Class B shares for Class A shares, alongside a grant of 100,000 new Units. While the redemption and grant are non-cash structural moves, the open market sale by the CEO ahead of a major positive earnings surprise is a notable insider signal.
At the time of this filing, WHD was trading at $52.32 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $4.2B. The 52-week trading range was $33.20 to $64.30. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.