In a recent transaction, Magnolia Capital Fund, LP, a significant shareholder of Wheeler Real Estate Investment Trust, Inc. (NASDAQ:WHLRD), has sold a portion of its holdings in the company. According to the latest filing, the investment fund disposed of 3,516 shares of Wheeler REIT's Series D Cumulative Convertible Preferred Stock at prices ranging from $19.00 to $19.10, with the total value of the sale amounting to approximately $66,804.
The transaction, which took place on August 12, 2024, was executed in multiple trades, with the reported weighted-average sale price per share being $19.00. Following the sale, the ownership stake of Magnolia Capital Fund in Wheeler REIT's preferred shares stands at 317,646 shares.
Magnolia Capital Fund, LP, operates with The Magnolia Group, LLC as its general partner and investment manager, and Adam K. Peterson is the managing member of The Magnolia Group. Both The Magnolia Group and Mr. Peterson are considered to have indirect beneficial ownership of the remaining shares, although they have disclaimed beneficial ownership except to the extent of their pecuniary interest.
Investors often keep a close eye on insider transactions as they can provide valuable insights into the company's financial health and future prospects. The sale by Magnolia Capital Fund could be interpreted in various ways, but without additional context, it is merely a factual report of a completed transaction. Wheeler Real Estate Investment Trust, Inc. specializes in owning, acquiring, financing, developing, renovating, leasing, and managing income-producing real estate properties, and is incorporated in Maryland.
InvestingPro Insights
Amid the recent transaction involving Magnolia Capital Fund's sale of Wheeler Real Estate Investment Trust, Inc. (NASDAQ:WHLRD) shares, investors may benefit from a closer look at the company's financial metrics and market performance. According to InvestingPro data, Wheeler REIT has a market capitalization of $3.37 million, which provides a sense of the company's size in the investment landscape.
InvestingPro Tips suggest that Wheeler REIT's stock has been in oversold territory based on the RSI indicator, which could be of interest to contrarian investors or those looking for a potential rebound. Additionally, the stock's significant return over the last week indicates a notable change in momentum that market participants might want to consider. Furthermore, with the stock generally trading with high price volatility, investors should be prepared for potentially large swings in market value.
Key financial data from the last twelve months as of Q2 2024 reveals a revenue growth of 6.98%, indicating the company's ability to increase its earnings over time. A gross profit margin of 65.8% is also noteworthy, as it suggests Wheeler REIT's efficiency in managing its cost of goods sold relative to its sales. Despite these positive indicators, it's important to note that the company has not been profitable over the last twelve months, which may raise concerns about its longer-term financial sustainability.
For investors seeking additional insights and analysis, there are more InvestingPro Tips available, which can be accessed through the InvestingPro platform. These tips could provide further context to Wheeler REIT's financial health and assist in making more informed investment decisions.
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