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Executives at Magnolia Capital Fund, LP, including managing member Adam K. Peterson, have sold a significant amount of stock in Wheeler Real Estate Investment Trust, Inc. (NASDAQ:WHLRD). The transactions, which occurred over several days, resulted in a total sale value of $382,809. The sales took place at prices ranging between $19.05 and $19.16 per share.
The series of transactions began on August 29, 2024, when 3,600 shares of Series D Cumulative Convertible Preferred Stock were sold at a weighted-average price of $19.14 per share. This was followed by a larger sale on August 30, where 13,500 shares were sold at an average price of $19.16 per share. The final sale reported in this period was on September 3, with 2,900 shares exchanged at an average price of $19.05 per share.
These sales were conducted directly by Magnolia Capital Fund, LP, with The Magnolia Group, LLC acting as the general partner and investment manager. Adam K. Peterson, as the managing member of The Magnolia Group, LLC, may be deemed to share indirect beneficial ownership of the remaining 293,789 shares of Series D Preferred Stock of Wheeler Real Estate Investment Trust, Inc. However, both The Magnolia Group, LLC and Mr. Peterson have disclaimed beneficial ownership of these securities except to the extent of their respective pecuniary interests.
The reported transactions reflect the ongoing financial activities of company executives and provide insight into their stock holdings in Wheeler Real Estate Investment Trust, Inc. Investors and market watchers often monitor such sales as part of their due diligence and analysis of a company's stock performance and insider confidence.
InvestingPro Insights
Amid the recent transactions by Magnolia Capital Fund executives, Wheeler Real Estate Investment Trust, Inc. (NASDAQ:WHLRD) has shown some intriguing financial metrics and market movements. An InvestingPro Tip points out that WHLRD's stock is currently in oversold territory according to the RSI, suggesting a potential rebound could be on the horizon. Moreover, despite the significant sales by insiders, the stock has demonstrated high price volatility, which could indicate opportunities for investors with an appetite for risk.
From a financial standpoint, Wheeler Real Estate Investment Trust, Inc. has reported a gross profit margin of 65.8% over the last twelve months as of Q2 2024, underlining the company's ability to maintain a strong profit rate on its revenues, which stood at $103.17 million. Additionally, the company's operating income margin for the same period was 29.43%, reflecting a solid operational efficiency. However, it's important to note that the company was not profitable over the last twelve months, and it does not pay dividends to shareholders, which could influence investment strategies.
Investors considering Wheeler Real Estate Investment Trust, Inc. should be aware that the company's stock has taken a big hit over the last week and has fared poorly over the last month. For those interested in a deeper analysis, InvestingPro offers additional tips on WHLRD, which can be accessed at InvestingPro. With these insights, investors can better gauge the company's current status and future potential in the market.
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