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Darren Richman, the Chief Executive Officer and President of Millrose Properties, Inc. (NASDAQ:MRP), has recently increased his stake in the company through a series of stock purchases. According to a recent filing, Richman acquired a total of 265,000 shares of Class A Common Stock over two days, February 13 and 14, amounting to an investment of approximately $6 million. The purchases come as the stock trades at $22.92, with a market capitalization of $3.8 billion. InvestingPro analysis indicates the stock is currently in overbought territory, with notable price volatility.
The purchases were made at prices ranging from $21.57 to $23.00 per share. Notably, a portion of these shares, specifically 44,000, are held indirectly through the Richman Family Trust, which benefits his children and spouse. This move highlights Richman’s continued confidence in Millrose Properties’ prospects. The company maintains a "GOOD" financial health rating according to InvestingPro, which offers 3 additional key insights about MRP’s financial performance and valuation.
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