Russell Grimaldi, the Chief Compliance Officer and Associate General Counsel of Horizon Kinetics Holding Corp (NASDAQ:HKHC), recently acquired shares of the company's common stock. According to a recent SEC filing, Grimaldi purchased a total of 132 shares on November 18, 2024, at a price of $38.75 per share, amounting to a total transaction value of $5,115.
This acquisition increases Grimaldi's direct ownership to 132 shares following the transaction. The purchase reflects Grimaldi's continued investment in Horizon Kinetics, a company known for its focus on perfumes, cosmetics, and other toilet preparations.
InvestingPro Insights
Russell Grimaldi's recent purchase of Horizon Kinetics Holding Corp (NASDAQ:HKHC) shares aligns with several positive indicators highlighted by InvestingPro. The company's stock has shown strong performance, with a 55.1% price return over the last month and a 62.39% return over the past three months. This momentum is further supported by HKHC's robust financial position, as indicated by an InvestingPro Tip noting that the company holds more cash than debt on its balance sheet.
Despite the recent price surge, HKHC is trading at a high earnings multiple, with a P/E ratio of 484.79 for the last twelve months as of Q3 2024. This valuation suggests investors are pricing in significant growth expectations, which is somewhat justified by the company's 20.57% quarterly revenue growth in Q3 2024.
For investors seeking a more comprehensive analysis, InvestingPro offers 12 additional tips for HKHC, providing deeper insights into the company's financial health and market position. These additional tips can help investors better understand the context of Grimaldi's insider purchase and the company's overall investment potential.
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