Director Sharp Ingle Sells 3,000 Shares of Ingles Markets Inc (IMKTA)
Director Sharp Ingle of Ingles Markets Inc (NASDAQ:IMKTA) has sold 3,000 shares of the company on February 29, 2024, according to a recent SEC Filing. The transaction was executed at a price of $77.16 per share, resulting in a total sale amount of $231,480.
Ingles Markets Inc is a leading American regional supermarket chain with operations in the Southeastern United States. The company provides a wide range of food products, including grocery, meat and dairy items, as well as other perishable goods. In addition to food retailing, Ingles Markets Inc also operates neighborhood shopping centers, most of which contain an Ingles supermarket.
Over the past year, the insider has engaged in a series of transactions, selling a total of 48,500 shares and making no purchases of the company's stock. The recent sale by the insider is part of a broader trend observed over the past year, where Ingles Markets Inc has seen 20 insider sells and no insider buys.
On the valuation front, Ingles Markets Inc (NASDAQ:IMKTA) has a market capitalization of $1.449 billion as of the date of the insider's recent transaction. The stock's price-earnings ratio stands at 7.85, which is below both the industry median of 16.755 and the company's historical median price-earnings ratio. This suggests a lower valuation relative to its peers and its own historical pricing.
The stock's current trading price of $77.16, when compared to the GuruFocus Value of $89.16, indicates that Ingles Markets Inc is modestly undervalued with a price-to-GF-Value ratio of 0.87. The GF Value is a proprietary intrinsic value estimate from GuruFocus, which takes into account historical trading multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts.
The insider trend image above reflects the recent selling activity by insiders at Ingles Markets Inc.
The GF Value image provides a visual representation of the stock's valuation relative to its intrinsic value, as estimated by GuruFocus.
For more detailed information on insider transactions and stock valuation, investors and analysts are encouraged to visit the company's profile on GuruFocus.
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.
