In a recent transaction, Kevin Rendino, the Chairman and CEO of 180 Degree Capital Corp. (NASDAQ:TURN), purchased additional shares of the company. The executive bought a total of 1,060 shares of common stock in two separate transactions.
On May 28, 2024, Rendino acquired 1,059 shares at a price of $3.77 each. The following day, he purchased one additional share, this time at a slightly higher price of $3.80. The total investment for these acquisitions amounted to $3,996, indicating a price range between $3.77 and $3.80 for the shares bought during this period.
With these purchases, Rendino's ownership in 180 Degree Capital has increased, reflecting his continued commitment to the company. The transactions were disclosed in a regulatory filing with the Securities and Exchange Commission.
180 Degree Capital Corp., based in Montclair, New Jersey, is known for its investments in various sectors. The company's stock is publicly traded under the ticker symbol TURN on the NASDAQ exchange.
Investors often keep a close eye on insider transactions as they can provide insights into executives' perspectives on the company's current valuation and future prospects.
InvestingPro Insights
Following the recent insider transactions by Kevin Rendino, Chairman and CEO of 180 Degree Capital Corp. (NASDAQ:TURN), market spectators may find additional context in the company's financial health and stock performance. The company's modest market capitalization of $38.3 million USD, combined with a negative P/E ratio of -2.8, suggests challenges in profitability, as reflected in the last twelve months leading up to Q4 2023 where the company was not profitable.
Despite these challenges, an InvestingPro Tip highlights that the company's liquid assets exceed its short-term obligations, which could indicate a level of financial stability in the near term. Moreover, the company's stock is trading near its 52-week low, potentially marking a point of interest for value-oriented investors or those looking for entry points into the stock. However, it's noteworthy that 180 Degree Capital does not pay a dividend, which could be a deciding factor for income-focused investors.
The revenue of 180 Degree Capital for the last twelve months as of Q4 2023 stood at 0.05M USD, with a stark revenue decline of 34.49% from the previous year. This could be a point of concern for investors looking for growth opportunities, especially considering the significant quarterly revenue decline of 92.06% in Q4 2023. The gross profit margin remains at 100%, indicating that while revenues are low, the cost of goods sold is minimal, possibly due to the nature of their investment business model.
For those considering a deeper dive into TURN's financials and stock performance, InvestingPro offers additional insights and tips. There are more InvestingPro Tips available at https://www.investing.com/pro/TURN, which could further inform investment decisions. Interested readers can use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking a wealth of data and analysis to guide their investment strategy.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.