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 21, 2024. The transaction was executed at a price of $76 per share, resulting in a total sale amount of $152,000.Over the past year, the insider has sold a total of 55,000 shares of Ingles Markets Inc and has not made any share purchases. This latest transaction continues a trend of insider sales at the company, with a total of 20 insider sells and no insider buys reported over the same period.
The stock's market cap following the sale stands at $1.435 billion. Ingles Markets Inc's price-earnings ratio is currently 7.77, which is below both the industry median of 16.44 and the company's historical median price-earnings ratio. This valuation suggests that the stock is trading at a lower multiple compared to its peers and its own historical levels.According to the GuruFocus Value chart, with a share price of $76 and a GF Value of $89.70, Ingles Markets Inc has a price-to-GF-Value ratio of 0.85, indicating that the stock is modestly undervalued.
The GF Value is calculated considering historical trading multiples, a GuruFocus adjustment factor based on the company's past returns and growth, and future business performance estimates provided by Morningstar analysts.The insider's recent sale may attract the attention of investors who track insider behaviors as a component of their investment strategy. However, it is important to consider a wide range of factors, including broader market trends, company performance, and industry developments, when evaluating the potential implications of insider transactions.
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.
