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PrimeEnergy Resources Corp. (NASDAQ:PNRG) recently reported that Robert de Rothschild, a ten percent owner of the company, sold a significant number of shares in early June, amid a sharp 25% decline in the stock price over the past week. According to the SEC filing, de Rothschild sold a total of 6,156 common shares over two days, amounting to approximately $1,155,612.
On June 3, de Rothschild sold 4,389 shares at a weighted average price of $188.0117 per share. The shares were sold in multiple transactions, with prices ranging from $186.00 to $189.45. Following this transaction, he retained ownership of 232,524 shares. According to InvestingPro analysis, the stock appears undervalued with a P/E ratio of 8.8x, trading significantly below its Fair Value.
The following day, June 4, he sold an additional 1,767 shares at a price of $187 per share, reducing his holdings to 230,757 shares. These transactions were conducted indirectly through Amrace Inc., with de Rothschild disclaiming beneficial ownership except for his pecuniary interest.
This activity highlights a notable movement in PrimeEnergy’s stock by a significant shareholder, drawing attention from investors monitoring insider transactions.
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