Executives at Cowen Inc. recently engaged in a series of stock transactions involving shares of Star Holdings, as detailed in a recent SEC filing. The transactions included both purchases and sales of the company's common shares of beneficial interest, with a total value exceeding $300,000.
On March 6, 2024, Cowen Overseas Investment LP, a subsidiary of Cowen Inc., purchased 9,307 shares at prices ranging from $11.8494 to $12.0131, totaling approximately $132,494. The following day, on March 7, 2024, Cowen and Company, LLC, another subsidiary, acquired 1,746 shares within the price range of $11.8494 to $12.0131.
Conversely, sales transactions were also reported. Cowen Overseas Investment LP sold 1,012 shares on March 6 at prices between $11.95 and $11.995, totaling around $12,097. On March 7, Cowen and Company, LLC sold 14,000 shares at an average price of $11.8055, amounting to approximately $165,277.
These transactions were conducted through multiple trades, and the prices reported reflect the weighted average purchase and sale prices. The SEC filing includes undertakings by the reporting persons to provide full information regarding the number of shares purchased or sold at each respective price within the ranges stated, upon request.
Following these transactions, Cowen Overseas Investment LP's ownership in Star Holdings changed to 986,287 shares, while Cowen and Company, LLC's holdings adjusted to 341,730 shares.
The stock ticker for Star Holdings is NYSE:STHO, and investors may be interested in these transactions as they reflect the activities of major shareholders and executives within Cowen Inc. and its subsidiaries. The SEC filing was jointly filed by Cowen Inc., Cowen Overseas Investment LP, Cowen and Company, LLC, Cowen Holdings, Inc., and RCG LV Pearl LLC, indicating their collective reporting responsibility for these transactions.
InvestingPro Insights
Recent transactions by Cowen Inc. executives in Star Holdings (NYSE:STHO) have caught the attention of investors, signaling confidence in the company's financials and future prospects. To better understand the potential impact of these trades, here's a look at the latest data and analysis from InvestingPro.
Star Holdings is currently trading at a low Price / Book multiple of 0.38, suggesting that the company could be undervalued compared to its book value. This aligns with the recent purchases by Cowen Inc. executives, indicating they may perceive the stock as a worthwhile investment at its current price levels.
Despite a challenging period, Star Holdings has managed to maintain liquid assets that exceed its short-term obligations, providing a cushion for operational needs. This financial stability might have contributed to the decision-making process of Cowen Inc. executives when engaging in the recent stock transactions.
However, investors should note that Star Holdings is not currently profitable, as indicated by the negative P/E Ratio (Adjusted) of -2.93 for the last twelve months as of Q4 2023. Moreover, the company has experienced a price decline of 16.64% over the last three months, which may present a buying opportunity for those who believe in the company's long-term growth potential.
For those interested in a deeper dive into Star Holdings' financial health and future outlook, InvestingPro offers additional InvestingPro Tips that can provide a more comprehensive analysis. By using the coupon code PRONEWS24, readers can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription to access these insights.
InvestingPro Data for STHO also reveals a market capitalization of $155.44M USD, revenue over the last twelve months as of Q4 2023 standing at $123.05M USD, and a gross profit margin of 8.86% during the same period. These metrics, along with the additional tips available on InvestingPro, can help investors make more informed decisions about their investments in Star Holdings.
For more detailed analysis and tips, including the six additional InvestingPro Tips not listed here, visit https://www.investing.com/pro/STHO.
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