Director Sharp Ingle Sells 5,000 Shares of Ingles Markets Inc (IMKTA)
Sharp Ingle, Director of Ingles Markets Inc (NASDAQ:IMKTA), executed a sale of 5,000 shares in the company on February 27, 2024, according to a recent SEC filing. The transaction was carried out at an average price of $77 per share, resulting in a total value of $385,000.
Ingles Markets Inc (NASDAQ:IMKTA) is an American supermarket chain with operations in the Southeastern United States. The company offers a range of grocery products, including food products, tobacco products, health and beauty care products, and other non-food products. Ingles Markets Inc operates a robust network of supermarkets and also provides services such as fuel centers, pharmacies, and in-store cafes.
Over the past year, the insider, Sharp Ingle, has sold a total of 45,500 shares of Ingles Markets Inc and has not made any purchases of the stock. The recent sale of 5,000 shares is part of this overall selling trend by the insider.
The insider transaction history for Ingles Markets Inc (NASDAQ:IMKTA) indicates a pattern of insider sales, with 19 insider sells recorded over the past year and no insider buys during the same period.
On the date of the insider's recent sale, shares of Ingles Markets Inc (NASDAQ:IMKTA) were trading at $77, giving the company a market capitalization of $1.462 billion. The price-earnings ratio of the company stands at 7.92, which is below both the industry median of 16.6 and the company's historical median price-earnings ratio.
The stock's price of $77 compared to the GuruFocus Value of $89.13 suggests that Ingles Markets Inc (NASDAQ:IMKTA) is modestly undervalued with a price-to-GF-Value ratio of 0.86. The GF Value is an intrinsic value estimate that considers historical trading multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts.
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.
