In a recent transaction, Towerview LLC has increased its stake in Gyrodyne, LLC (NASDAQ:GYRO), purchasing additional shares valued at a total of $7,770. The transaction, which took place on August 9, 2024, involved buying 1,000 shares at a price of $7.77 each.
The purchase by Towerview LLC, a significant shareholder in Gyrodyne, is notable as it reflects continued investment by insiders in the company's future. Following this latest acquisition, Towerview LLC now holds a total of 348,000 shares in the real estate and construction firm.
Gyrodyne, LLC, which is based in St. James, New York, specializes in the operation of nonresidential buildings. The company is known for its strategic management of a portfolio of real estate properties, including medical and professional office buildings.
Investors often monitor the buying and selling activities of significant shareholders like Towerview LLC, as such transactions can provide insights into the confidence levels of those who have a vested interest in the company's success.
The details of this transaction were made public through a Form 4 filing with the Securities and Exchange Commission, which requires insiders to report their trading activities in company securities. Daniel R. Tisch, associated with Towerview LLC, signed the document, which was filed on August 12, 2024.
InvestingPro Insights
Amid the recent insider buying activity at Gyrodyne, LLC, InvestingPro provides some essential metrics and tips to consider. Gyrodyne's market capitalization stands at a modest $17.09 million, reflecting its size in the real estate and construction sector. However, the company's P/E ratio is currently negative at -2.75, indicating that it may not be profitable at the moment. Over the past year, the stock has seen a significant downturn, with a year-to-date price total return of -22.3% and a one-year price total return of -29.36%, signaling a challenging period for the company's stock valuation.
InvestingPro Tips suggest that Gyrodyne generally trades with low price volatility, which could be a sign of a stable investor base despite the current downturn. Nonetheless, the company suffers from weak gross profit margins and its valuation implies a poor free cash flow yield, which could be concerns for potential investors. Moreover, Gyrodyne is trading near its 52-week low, currently at 70% of its 52-week high, which might indicate a potential entry point for investors believing in the company's long-term prospects. Notably, Gyrodyne does not pay a dividend, which could impact its attractiveness to income-focused investors.
For those considering a deeper dive into Gyrodyne's financial health and future prospects, there are additional InvestingPro Tips available on the platform. These tips can provide further insights into the company's performance and potential investment opportunities.
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