Insider Buying: Robert Dwyer Acquires 16,105 Shares of Bimini Capital Management Inc
On September 13, 2023, Robert Dwyer, Director and 10% Owner of Bimini Capital Management Inc (BMNM), purchased 16,105 shares of the company. This move is significant as insider buying can often be a positive indicator for the company's future performance.
Robert Dwyer is a seasoned professional in the financial industry, with a wealth of experience in investment management. His role as a Director and 10% Owner at Bimini Capital Management Inc gives him a unique insight into the company's operations and future prospects.
Bimini Capital Management Inc is a specialty finance company that invests primarily in residential mortgage-related securities issued by the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, and the Government National Mortgage Association. The company's primary business objective is to earn returns on the spread between the yield on its assets and its costs, including the interest expense on the funds it borrows.
Over the past year, Robert Dwyer has purchased a total of 74,762 shares and has not sold any shares. This trend of consistent buying by the insider could be a bullish signal for the company's stock.
The insider transaction history for Bimini Capital Management Inc shows a total of 13 insider buys over the past year, with no insider sells. This trend of insider buying could indicate a positive outlook for the company among those who know it best.
On the day of Robert Dwyer's recent buy, shares of Bimini Capital Management Inc were trading at $0.91, giving the company a market cap of $9.075 million.
With a price of $0.91 and a GuruFocus Value of $0.02, Bimini Capital Management Inc has a price-to-GF-Value ratio of 45.5. This suggests that the stock is significantly overvalued based on its GF Value. The GF Value is an intrinsic value estimate developed by GuruFocus, calculated based on historical multiples, a GuruFocus adjustment factor, and future estimates of business performance from Morningstar analysts.
Despite the stock's overvaluation, the insider's consistent buying could suggest that they believe the company's future performance will justify the current price. As always, investors should conduct their own research and consider multiple factors before making investment decisions.
This article first appeared on GuruFocus.
