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Bellevue Capital Partners (WA:CPAP), a ten-percent owner of American Strategic Investment Co. (NYSE:NYC), has purchased shares of the company’s Class A common stock, according to a Form 4 filing with the Securities and Exchange Commission. The insider buying comes as NYC trades near its 52-week high of $13.59, having surged 21% in the past week and 43% over six months. According to InvestingPro analysis, the stock appears undervalued despite recent gains.
Across three transactions, Bellevue Capital Partners acquired a total of 3837 shares for approximately $47988. The purchases occurred on June 25, 26 and 27 of 2025, with prices ranging from $12.37 to $12.64. The micro-cap company, valued at $33.4 million, maintains a healthy current ratio of 2.22 and trades at an attractive price-to-book ratio of 0.43, though InvestingPro data indicates weak overall financial health.
Following these transactions, Bellevue Capital Partners directly owns 1,010,014 shares of Class A common stock. Additionally, Mr. Nicholas S. Schorsch directly owns 26,559 shares. For deeper insights into insider trading patterns and 17 additional key ProTips about NYC, visit InvestingPro.
In other recent news, American Strategic Investment Company (ASIC) reported a decline in revenue for the first quarter of 2025, with figures dropping to $12.3 million from $15.5 million in the same period last year. The company also experienced a wider GAAP net loss, totaling $8.6 million compared to $7.6 million in the first quarter of 2024. Despite these financial challenges, ASIC has improved its occupancy rates by 120 basis points, reaching 82%. The company is actively marketing two properties for sale to reduce leverage and plans to use the proceeds to diversify its portfolio into higher-yielding assets. This strategic move is aimed at enhancing shareholder value. Analysts from various firms have noted the potential impact of these developments on ASIC’s financial health and future prospects. The company is also preparing for its virtual annual shareholders meeting on May 29, 2025, where further insights into these initiatives are expected to be discussed.
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