Director Sharp Ingle Sells 2,000 Shares of Ingles Markets Inc (IMKTA)
Ingles Markets Inc (NASDAQ:IMKTA), an American regional supermarket chain with operations in the Southeastern United States, has reported an insider sale according to a recent SEC filing. Director Sharp Ingle sold 2,000 shares of the company on March 25, 2024. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.Over the past year, the insider has sold a total of 57,000 shares of Ingles Markets Inc and has not made any purchases of the stock. This latest transaction continues a trend of insider sales at the company, with a total of 21 insider sells and no insider buys reported over the same period.
On the day of the sale, shares of Ingles Markets Inc were trading at $76.00, giving the company a market capitalization of $1.434 billion. The price-earnings ratio of the company stands at 7.77, which is below both the industry median of 16.37 and the historical median price-earnings ratio for the company.The stock's valuation relative to the GuruFocus Value indicates that Ingles Markets Inc is currently modestly undervalued. With a share price of $76 and a GuruFocus Value of $89.81, the price-to-GF-Value ratio is 0.85.
The GF Value is determined by considering historical trading multiples such as price-earnings, price-sales, price-book, and price-to-free cash flow ratios, along with a GuruFocus adjustment factor based on the company's past returns and growth, and future business performance estimates from Morningstar analysts.The insider's recent sale may attract the attention of investors who track insider behaviors as an indicator of a company's future performance. However, it is important to consider a wide range of factors when evaluating the potential investment in any stock.
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.
