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In a recent series of transactions, Chan Heng Fai Ambrose, the Chief Executive Officer of Alset Inc. (NASDAQ:AEI), has increased his stake in the company. On two separate occasions, Mr. Chan purchased a total of 27,413 shares of Alset Inc., investing an aggregate amount of $25,871.
The first purchase, made on August 16, 2024, involved 7,413 shares of common stock at a weighted average price of $0.90. These shares were bought in multiple trades with prices ranging from $0.86 to $0.94. A few days later, on August 19, Mr. Chan acquired an additional 20,000 shares at a weighted average price of $0.96, with individual trades executed between $0.94 and $0.97.
Following these acquisitions, Mr. Chan's direct ownership in Alset Inc. has reached 5,872,588 shares. Additionally, he indirectly owns 319,000 shares through HFE Holdings Limited, over which he has sole voting and investment power. In total, Mr. Chan is the beneficial owner of 6,191,588 shares of Alset Inc.'s common stock.
These transactions reflect the CEO's increasing investment in the company and may signal his confidence in its future prospects. The purchases come at a time when Alset Inc., a company operating in the real estate sector, continues to navigate the market dynamics of the industry.
InvestingPro Insights
As Alset Inc.'s CEO Chan Heng Fai Ambrose demonstrates his belief in the company's potential through recent stock purchases, a closer look at Alset's financial health and market performance provides additional context. According to InvestingPro data, Alset Inc. has a market capitalization of $8.81 million. The company's Price / Book multiple, reflecting its market value relative to its book value, stands at a low 0.11 as of the last twelve months ending Q2 2024. This could indicate that the stock is potentially undervalued compared to its assets.
InvestingPro Tips reveal that Alset Inc. is trading at low valuation multiples, such as EBIT and EBITDA multiples, which may attract investors looking for undervalued opportunities. However, the company is also experiencing a rapid cash burn, as indicated by a significant decline in revenue growth, with a -57.47% change over the last twelve months as of Q2 2024. Additionally, the company's stock has shown high price volatility and has not been profitable over the last year.
Despite the challenges, Mr. Chan's recent investment could be seen as a positive signal to the market. For investors interested in a deeper analysis, there are 15 additional InvestingPro Tips available for Alset Inc. that delve into various aspects of the company's performance and valuation. These insights can be found at https://www.investing.com/pro/AEI, providing a more comprehensive understanding of Alset's position within the real estate sector and its financial nuances.
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