Alain Monie, a director at Ingram Micro Holding Corp (NASDAQ:INGM), has made a significant purchase of the company's stock. According to a recent SEC filing, Monie acquired 227,000 shares at a price of $22 per share, totaling approximately $4.99 million. This purchase was part of a reserved share program linked to Ingram Micro's initial public offering.
In addition to the purchase, Monie also received grants of restricted stock units (RSUs), with 90,909 units vesting immediately and 8,409 units set to vest in a year. Furthermore, 36,424 shares were withheld to cover tax obligations related to the vesting of RSUs, valued at $22 per share.
These transactions have increased Monie's total holdings to 1,335,793 shares of Ingram Micro common stock, underscoring his confidence in the company's future performance.
InvestingPro Insights
Adding to the significant insider purchase by Alain Monie, recent data from InvestingPro sheds light on Ingram Micro's market performance and financial characteristics. The company has shown a remarkable 14.42% return over the past week, mirroring its one-month performance. This short-term surge aligns with the director's substantial stock acquisition, potentially indicating positive market sentiment or anticipated company developments.
InvestingPro Tips highlight that Ingram Micro generally trades with high price volatility, which could explain the recent sharp price movements. This volatility might present opportunities for investors who, like Monie, are looking to increase their stake in the company. However, it's worth noting that Ingram Micro suffers from weak gross profit margins, a factor that potential investors should consider alongside the insider buying activity.
The average daily trading volume for Ingram Micro over the past three months stands at 7.75 million USD, suggesting significant market interest in the stock. This liquidity could be advantageous for investors looking to build or adjust positions in response to insider activities like Monie's purchase.
For those seeking a more comprehensive analysis, InvestingPro offers additional tips and insights on Ingram Micro. To access the full range of 4 additional InvestingPro Tips and more detailed financial metrics, investors can explore the InvestingPro product for a deeper understanding of the company's financial health and market position.
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