Gyrodyne, LLC (NASDAQ:GYRO) director Paul L. Lamb has sold a total of 4,368 shares of the company, according to a recent SEC filing. The transaction, dated April 1, 2024, was executed at a price of $7.9937 per share, amounting to over $34,916 in total value.
The sale has adjusted Lamb’s holdings in the company to 111,328 shares, which includes 80,786 shares in an Individual Retirement Account, as disclosed in the footnotes of the filing. This transaction reflects a direct ownership as indicated in the report.
Investors often keep a close eye on insider transactions, as they can provide insights into how the company’s leadership views the stock’s value and future prospects. Gyrodyne specializes in the operation of nonresidential buildings and is incorporated in New York, with its business address listed as 1 Flowerfield, Suite 24, St. James, NY.
The details of this transaction are publicly available as part of Gyrodyne’s regulatory filings. Lamb’s sale of shares is one of the many transactions that corporate insiders regularly report to the SEC.
InvestingPro Insights
In light of the recent insider transaction at Gyrodyne, LLC (NASDAQ:GYRO), where director Paul L. Lamb sold a notable number of shares, investors may be seeking further context to understand the company’s current financial health and market position. According to InvestingPro data, Gyrodyne’s market capitalization stands at approximately $17.53 million, with a notably negative P/E ratio of -2.80. This metric can often suggest that the company is not currently profitable or that earnings are not sufficient relative to its share price.
Moreover, Gyrodyne’s stock performance has experienced a downward trend, with a 3-month price total return of -20.0%, aligning with the fact that the stock is trading near its 52-week low. The price at the previous close was $8, which is 63.17% of the stock’s 52-week high, reflecting a significant decline over the past year. These figures underscore some of the challenges the company faces and may provide context for the insider selling activity.
InvestingPro Tips reveal additional concerns for potential investors. Gyrodyne suffers from weak gross profit margins and a valuation that implies a poor free cash flow yield. These factors, combined with the lack of dividend payments to shareholders, could be of interest to those looking to understand the full picture of Gyrodyne’s financial standing. For those interested in a deeper dive into Gyrodyne’s financials and more tips, there are additional insights available on InvestingPro, including four more InvestingPro Tips for a total of six, which can be accessed at: https://www.investing.com/pro/GYRO. Remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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