Brent D. Rosenthal, a director at Horizon Kinetics Holding Corp (NASDAQ:HKHC), recently acquired 300 shares of the company's common stock. The shares were purchased at a price of $38.06 each, totaling approximately $11,418. Following this transaction, Rosenthal holds 300 shares directly. This acquisition was reported in a recent filing with the Securities and Exchange Commission.
InvestingPro Insights
The recent insider purchase by Brent D. Rosenthal aligns with several positive indicators for Horizon Kinetics Holding Corp (NASDAQ:HKHC). According to InvestingPro data, the company's market capitalization stands at $722.1 million, reflecting its current position in the market.
InvestingPro Tips highlight that HKHC holds more cash than debt on its balance sheet, suggesting a strong financial position. This could be a factor in the director's decision to increase his stake in the company. Additionally, the company has shown a high return over the last year, with a remarkable 54.19% price total return for the past 12 months.
The stock's recent performance has been particularly impressive, with a 67.6% price total return over the last month and a 60.61% return over the past three months. This strong momentum might have influenced Rosenthal's decision to invest at this time.
It's worth noting that HKHC is trading at a high earnings multiple, with a P/E ratio (adjusted) of 475.41 for the last twelve months as of Q3 2024. This valuation suggests investors have high expectations for the company's future growth.
For investors seeking more comprehensive analysis, InvestingPro offers 12 additional tips for HKHC, providing a deeper understanding of the company's financial health and market position.
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