Murray Stahl, the CEO and CIO of Horizon Kinetics Holding Corp (NASDAQ:HKHC), recently acquired a total of 17 shares of the company's common stock, valued at approximately $654. The shares were purchased at a price of $38.50 each, according to the latest SEC filings.
The transactions, dated November 15, 2024, indicate that Stahl's direct ownership increased by 10 shares, while indirect ownership through his spouse and Horizon Common Inc. increased by 1 and 6 shares, respectively. Post-transaction, Stahl directly owns 248,626 shares. However, it's important to note that a significant portion of these shares, received as part of a merger earlier in the year, are not available for trading.
Stahl also holds indirect stakes through entities like FRMO Corp, Kinetics Institutional Partners LP, and Horizon Kinetics Asset Management LLC, with varying degrees of ownership and discretion over the shares.
InvestingPro Insights
Murray Stahl's recent acquisition of Horizon Kinetics Holding Corp (NASDAQ:HKHC) shares aligns with several key metrics and trends highlighted by InvestingPro. The company's stock has shown remarkable performance, with InvestingPro data revealing a 58.16% price return over the past month and a 68.48% return over the last three months. This strong momentum is further supported by an InvestingPro Tip indicating a "high return over the last year."
Despite the recent share price appreciation, HKHC's financial position appears solid. An InvestingPro Tip notes that the company "holds more cash than debt on its balance sheet," suggesting a strong liquidity position. This is particularly relevant given Stahl's insider purchase, as it may indicate confidence in the company's financial stability.
However, investors should be aware that HKHC is currently trading at elevated valuation multiples. The company's P/E ratio (adjusted) stands at 484.79 for the last twelve months as of Q3 2024, which is exceptionally high. This is corroborated by an InvestingPro Tip stating that the stock is "trading at a high earnings multiple."
For those interested in a more comprehensive analysis, InvestingPro offers 12 additional tips for HKHC, providing a deeper understanding of the company's financial health and market position.
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