Director Peter Thomas Acquires 2,000 Shares of Berry Global Group Inc
Peter Thomas, a director at Berry Global Group Inc (NYSE:BERY), has increased the insider's stake in the company by purchasing 2,000 shares on February 8, 2024, according to a recent SEC Filing. This transaction has been part of a pattern of insider activity that includes 3 insider buys and 16 insider sells over the past year.
Berry Global Group Inc is a global manufacturer and marketer of plastic packaging products. The company's products include containers, bottles, closures, overcaps, polythene films, and more, which are used by a wide range of end markets including food, beverage, healthcare, and personal care.
Insider buying and selling activities are closely monitored by investors as they can provide insights into a company's internal perspective. An insider purchase can suggest confidence in the company's future prospects, while insider sales might indicate the opposite. However, these transactions can also be influenced by personal financial needs or portfolio strategies, and thus may not always reflect the insider's view on the company's performance.
Over the past year, Peter Thomas has purchased a total of 2,000 shares and has not sold any shares. This recent acquisition by the insider was executed at a price of $56 per share, resulting in a total transaction value of $112,000.
On the date of the insider's purchase, Berry Global Group Inc had a market capitalization of $6.840 billion. The stock's price-earnings ratio stood at 12.69, which is below both the industry median of 16.4 and the company's historical median price-earnings ratio, indicating a potentially undervalued situation relative to its peers and its own past trading history.
The stock's price on the day of the transaction was $56, with a GuruFocus Value of $60.18, leading to a price-to-GF-Value ratio of 0.93. This suggests that Berry Global Group Inc was Fairly Valued based on its GF Value at the time of the insider's purchase.
The GF Value is a proprietary valuation metric developed by GuruFocus, which takes into account historical trading multiples, a GuruFocus adjustment factor based on the company's past performance, and future business performance estimates provided by Morningstar analysts.
The insider trend image above reflects the recent insider transactions, providing a visual representation of the buying and selling activities within the company by its insiders.
The GF Value image provides an additional perspective on the stock's valuation, comparing the current share price to the estimated intrinsic value as calculated by GuruFocus.
Investors often consider insider transactions as one of many factors when evaluating a stock for investment. The recent insider buying activity at Berry Global Group Inc may warrant further investigation by those looking to gain exposure to the packaging industry.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
