On June 27, 2024, Sharp Ingle, Director at Ingles Markets Inc (IMKTA, Financial), executed a sale of 5,901 shares of the company. The transaction was documented in a recent SEC Filing. Following this transaction, the insider now owns 0 shares of Ingles Markets Inc.
Ingles Markets Inc operates a chain of supermarkets in the Southeastern United States. The company offers a range of grocery products, including perishables, non-perishables, and other general merchandise. Ingles Markets Inc is known for its emphasis on providing a localized product mix and strong customer service in the regions it serves.
Over the past year, the insider has sold a total of 81,700 shares and has not made any purchases. This recent sale continues a trend observed over the past year at Ingles Markets Inc, where there have been 26 insider sells and no insider buys.
On the date of the sale, shares of Ingles Markets Inc were priced at $68.02. This pricing gives the company a market cap of approximately $1.303 billion. The price-earnings ratio of the company stands at 7.40, which is below both the industry median of 16.47 and the company's historical median.
According to the GF Value, the intrinsic value estimate for Ingles Markets Inc is $89.43 per share, suggesting that the stock is modestly undervalued with a price-to-GF-Value ratio of 0.76. The GF Value is calculated based on historical trading multiples, an adjustment factor from GuruFocus, and future business performance estimates provided by Morningstar analysts.
This sale by Director Sharp Ingle might be of interest to investors tracking insider activities as an indicator of confidence levels regarding the company's current valuation and future prospects.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
