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Magnolia Capital Fund LP, a significant shareholder in Wheeler Real Estate Investment Trust, Inc. (NASDAQ:WHLRD), has recently sold shares of the company's Series D Cumulative Convertible Preferred Stock. The transaction, which took place on August 26, 2024, involved the sale of 3,857 shares at a weighted-average price of $18.94 per share, resulting in a total sale value of $73,051.
The sale was executed in multiple trades with prices ranging from $18.90 to $18.95, according to a footnote in the filing. The disclosed weighted-average price reflects the aggregate sale price per share. The reporting party has committed to providing full details regarding the number of shares sold and the specific prices if requested by the SEC, the issuer, or a security holder of the issuer.
Following the transaction, Magnolia Capital Fund LP, along with The Magnolia Group, LLC, and its managing member Adam K. Peterson, indirectly retains beneficial ownership of 313,789 shares of the Series D Preferred Stock. Both The Magnolia Group, LLC, and Mr. Peterson have disclaimed beneficial ownership of these shares, except to the extent of their respective pecuniary interests.
The signatures on the filing indicate that Adam K. Peterson, on behalf of Magnolia Capital Fund LP and The Magnolia Group, LLC, has approved and confirmed the reported transactions. This sale by a significant shareholder is a notable event for investors and market watchers of Wheeler Real Estate Investment Trust, Inc.
InvestingPro Insights
Recent market activity has shown that Wheeler Real Estate Investment Trust, Inc. (NASDAQ:WHLRD) has experienced notable fluctuations, with InvestingPro data revealing a market capitalization of just $1.69 million. This relatively low market cap suggests a smaller company size which could be subject to higher market volatility. Indeed, an InvestingPro Tip highlights that the stock generally trades with high price volatility, which aligns with the company's recent performance, including a significant price drop over the last week.
Moreover, the company's financial health shows a mixed picture. While Wheeler Real Estate Investment Trust has not been profitable over the last twelve months, an InvestingPro Tip points out that its liquid assets exceed short-term obligations, indicating a degree of financial stability in covering current liabilities. However, the company's Price/Book ratio in the last twelve months as of Q2 2024 stands at -0.03, which may raise concerns about valuation among investors.
For those interested in deeper analysis, InvestingPro provides additional insights on Wheeler Real Estate Investment Trust, Inc., with a total of 13 InvestingPro Tips available at: https://www.investing.com/pro/WHLRD. These tips could offer investors a more comprehensive understanding of the stock's potential movements and financial standing.
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