Alset Inc. (NASDAQ:AEI) CEO Chan Heng Fai Ambrose has increased his stake in the company through the purchase of additional shares on June 6, 2024. The transaction involved acquiring 6,753 shares at a weighted average price of $1.111, with individual trades executed within the price range of $1.00 to $1.30. This latest acquisition has brought the total amount spent to approximately $7,502.
The purchase adds to Chan's already substantial holdings in the real estate-focused firm, which, according to a footnote in the report, include both direct and indirect shares. Chan's direct ownership following the transaction stands at 5,393,065 shares. Additionally, he indirectly controls 319,000 shares through HFE Holdings Limited, over which he has sole voting and investment power.
Investors often monitor insider transactions such as these for signals about executives' confidence in their company's prospects. Transactions by insiders can provide valuable insights into the leadership's view of the company's current valuation and future potential.
The reported transactions are part of a regulatory filing with the SEC, detailing the insider's trading activities. Alset Inc., with its headquarters in Bethesda, Maryland, operates in the real estate sector and has undergone name changes in the past, previously known as Alset EHome International Inc. and HF Enterprises Inc.
CEO Chan Heng Fai Ambrose's latest move reaffirms his vested interest in Alset Inc., as the company continues to navigate the real estate market.
In other recent news, Alset EHome International has been warned by the Nasdaq Stock Market about potential delisting due to its stock price consistently trading below the required $1 threshold. The company has been given a 180-day period, until October 12, 2024, to rectify this issue and maintain its stock price above the $1 minimum for at least ten consecutive business days. If Alset EHome manages to meet this requirement, Nasdaq will confirm in writing that the company has regained compliance and the matter will be closed. However, failure to meet this requirement by the compliance date will lead to a notification of potential delisting. In response to the notice, Alset EHome is considering various options to rectify the bid price deficiency and plans to actively monitor its stock price. This recent development is based on the company's latest SEC filing.
InvestingPro Insights
Following the recent insider activity at Alset Inc. (NASDAQ:AEI), where CEO Chan Heng Fai Ambrose increased his stake, investors may find additional context in the company's financial metrics and market performance. According to InvestingPro, Alset Inc. holds a market capitalization of just $9.7M, reflecting the small size of the company within the real estate sector. Despite a challenging history, the company has demonstrated a remarkable revenue growth rate of 688.62% in the last twelve months as of Q1 2024. This surge is also reflected in the quarterly figures, with a revenue growth of 556.59% in Q1 2024.
From an investment standpoint, Alset Inc. is trading at a low Price / Book multiple of 0.12 as of Q1 2024, which may suggest the stock is undervalued relative to its book value. Additionally, the company's liquid assets exceed its short-term obligations, indicating a strong liquidity position. This is particularly relevant for investors considering the company's ability to handle market fluctuations and invest in growth opportunities.
However, the InvestingPro Tips highlight that Alset Inc. is not profitable over the last twelve months, and the stock has experienced high volatility and poor performance over the last decade. On a positive note, the company has seen a strong return over the last month, with a 110.42% price total return. For investors seeking more in-depth analysis, there are additional InvestingPro Tips available, which can be accessed through the InvestingPro platform. Remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With 11 additional tips listed on InvestingPro for Alset Inc., investors can gain a comprehensive understanding of the company's financial health and market position.
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