Director Sharp Ingle Sells 4,000 Shares of Ingles Markets Inc (IMKTA)
Director Sharp Ingle of Ingles Markets Inc (NASDAQ:IMKTA) has sold 4,000 shares of the company on March 4, 2024, according to a recent SEC Filing. The transaction was executed at a price of $77.47 per share, resulting in a total sale amount of $309,880.
Ingles Markets Inc is a leading supermarket chain in the Southeastern United States. The company operates supermarkets under the name of Ingles and also runs a milk processing and packaging plant that supplies its supermarkets and unaffiliated customers.
Over the past year, the insider has sold a total of 52,000 shares of Ingles Markets Inc and has not made any purchases of the stock. The recent sale by the insider is part of a trend observed over the past year, where there have been no insider buys but 20 insider sells for the company.
Shares of Ingles Markets Inc were trading at $77.47 on the day of the insider's recent sale, giving the company a market cap of $1.450 billion. The price-earnings ratio of the company stands at 7.85, which is lower than the industry median of 16.68 and also below the company's historical median price-earnings ratio.
The stock's price-to-GF-Value ratio is currently at 0.87, with a GF Value of $89.26, indicating that Ingles Markets Inc is modestly undervalued according to GuruFocus's valuation model. 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 from Morningstar analysts.
The insider's recent sale could be of interest to investors tracking insider behaviors as an indicator of confidence in the company's current valuation and future prospects.
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.
