Mannatech Stock Price, News & Analysis

Mannatech, Incorporated (NASDAQ: MTEX) announced the completion of its cash tender offer, which concluded on June 25, 2021. The company purchased 171,433 shares of its common stock at $26.00 per share, totaling approximately $4.46 million. This represents around 8.31% of its total outstanding shares as of April 30, 2021. The purchase was funded through the company's cash reserves. Mannatech is devoted to enhancing lives with its health and wellness products through a network of independent associates.

Mannatech (NASDAQ: MTEX) announced preliminary results of its cash tender offer to repurchase up to 211,538 shares at $26.00 each, which expired on June 25, 2021. A total of 169,622 shares were properly tendered, with the company expected to accept for payment 174,249 shares at a total cost of approximately $4.5 million, representing around 8.45% of its total outstanding shares. The purchase will be funded from cash on hand. Final numbers will be confirmed following a guaranteed delivery period.

Mannatech (MTEX) reported that its shareholders approved all proposals during the annual shareholder meeting on June 15, 2021. Approximately 70.3% of the 2,063,280 outstanding shares were represented. Key decisions included the election of Larry A. Jobe and Kevin Robbins to the Board of Directors, the ratification of BDO USA, LLP as the independent auditor for the fiscal year 2021, and the advisory approval of executive compensation.

Al Bala, the President and CEO of Mannatech, has been elected to the Board of Directors of the Direct Selling Association (DSA). This is a significant recognition within the direct selling industry. Bala will serve a two-year term, aiming to promote integrity within the sector. He expressed gratitude for the opportunity, reflecting on his personal journey from factory worker to CEO. Mannatech, operational for over 25 years, focuses on health, weight management, fitness, and skincare products through its independent associates.

Mannatech (MTEX) announced a cash tender offer to purchase up to 211,538 shares of its common stock at $26.00 each. The offer aligns with the company's goal to maximize shareholder value, allowing for liquidity and enhanced future earnings potential for remaining shareholders. The tender offer is not contingent on financing and is subject to certain conditions outlined in the SEC filings. This announcement follows a closing share price of $19.84 on May 26, 2021, indicating an increase in value for those participating in the tender offer.

Mannatech (NASDAQ: MTEX) plans a cash tender offer to repurchase up to 211,538 shares of its common stock at a price of $26.00 per share. Georgeson Securities Corporation will manage the tender offer, with Georgeson LLC acting as the information agent and Computershare Trust Company serving as the depositary. The tender offer has not yet started, and there are no guarantees it will proceed as outlined. Shareholders are advised to review the forthcoming tender offer documentation carefully.

Mannatech announced a cash dividend of $0.16 per share, payable on June 14, 2021. Shareholders on record as of June 2, 2021 will receive this payment, highlighting the company’s commitment to shareholder value and long-term investment. President and CEO Alfredo Bala reaffirmed this dedication to delivering value to shareholders. Mannatech has been operating for over 25 years and is focused on health and wellness products, with a presence in 25 markets worldwide.

Mannatech reported a 4.7% increase in net sales, reaching $38.3 million in Q1 2021, up from $36.6 million in Q1 2020. Net income stood at $2.2 million, or $1.04 per diluted share, compared to $2.8 million, or $1.15 per diluted share, in the prior year. The gross profit margin improved to 81.2% from 80.9%. Although selling and administrative expenses rose slightly to $7.1 million, operating costs decreased by 4.4%. The first quarter also saw a 4.6% increase in recruitment, with approximately 19,538 new positions formed.

Mannatech, a global health and wellness company, reported fourth quarter 2020 net sales of $39.2 million, down 0.5% from $39.4 million in Q4 2019. Net income decreased to $0.7 million, or $0.34 per diluted share, from $2.1 million, or $0.87 per diluted share, a year earlier. Gross profit margin fell to 73.3%. For the year, net sales declined 4.0% to $143.3 million, while net income increased to $6.3 million. Notably, selling and administrative expenses decreased by 9.7% to $27.8 million. The company returned $9.3 million to shareholders through dividends and stock repurchases.