Broad Street Realty, Inc. (NASDAQ:BRST) CEO Michael Z. Jacoby has recently increased his stake in the company through the acquisition of additional shares. On September 17, Jacoby purchased 13,750 shares of Broad Street Realty at a weighted average price of $0.23 per share. The total investment for these newly acquired shares amounted to approximately $3,162.
This purchase was made in multiple transactions with prices ranging from $0.17 to $0.30, demonstrating the CEO's commitment to the company during a period of varying share prices. Following this transaction, Jacoby now directly holds a total of 3,675,303 shares in Broad Street Realty.
Additionally, it's noted that there are 57,125 shares held indirectly by Jacoby's spouse. However, Jacoby has disclaimed beneficial ownership of these securities, and this filing should not be taken as an admission of beneficial ownership for any legal purposes.
Investors often look to insider buying as a sign of confidence in the company's future prospects. The recent acquisition by the CEO of Broad Street Realty may be interpreted by the market as a positive signal, underlining the leadership's belief in the firm's value and potential.
For those interested in Broad Street Realty's corporate activities and insider transactions, the details of this latest development are now publicly accessible for review.
In other recent news, Sachem Capital (NYSE:SACH) Corp. has appointed Jeffery C. Walraven to its Board of Directors. Walraven, scheduled for election at the 2024 Annual Meeting of Shareholders, boasts a wealth of experience in real estate and public company leadership. His previous roles include co-founding and serving as Chief Operating Officer of Freehold Properties, Inc., and holding an independent director and audit committee member role at Broad Street Realty, Inc. since 2023. John L. Villano, CEO and Chairman of Sachem Capital, expressed confidence in Walraven's potential to contribute to the company's growth and shareholder value creation. Brian Prinz, independent director and Chair of the Nominating and Corporate Governance Committee, underscored Walraven's public company accounting and corporate finance expertise as aligning with the qualities sought for in a new independent Board member. These are recent developments from Sachem Capital, a company specializing in originating, underwriting, funding, servicing, and managing a portfolio of first mortgage-secured loans.
InvestingPro Insights
Broad Street Realty, Inc. (NASDAQ:BRST) has been attracting attention not only for insider transactions but also for its financial performance and market behavior. According to InvestingPro data, Broad Street Realty has demonstrated a high return over the last month, with a 38.83% increase in its price total return. This impressive short-term performance is further highlighted by a substantial 19.05% price total return in the past week alone. Such metrics indicate a strong recent uptrend in the company's share price, aligning with CEO Michael Z. Jacoby's recent share purchases.
Despite a challenging year-to-date performance with a 72.22% decline, the company has shown resilience with a gross profit margin of 67.48% in the last twelve months as of Q2 2024. This suggests that while Broad Street Realty has faced headwinds, it maintains a strong ability to generate profit from its revenues. Additionally, the company has achieved a 17.65% growth in EBITDA during the same period, which may be a signal of improving operational efficiency.
An InvestingPro Tip worth noting is that Broad Street Realty is trading at a low Price / Book multiple of 0.95, as of the last twelve months ending Q2 2024. This metric can often be interpreted as the market valuing the company's assets conservatively, which could be of interest to value-oriented investors seeking potential investment opportunities.
For readers interested in a deeper analysis, there are additional InvestingPro Tips available, which provide insights such as the company's earnings multiples and its stock price movement in relation to market trends. In particular, Broad Street Realty is noted for moving often in the opposite direction of the market, which could be a consideration for investors looking for diversification benefits. To explore these tips further, visit https://www.investing.com/pro/BRST, where a total of 12 InvestingPro Tips are listed, offering a comprehensive view of the company's financial health and market performance.
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