Alset Inc. (NASDAQ:AEI) CEO Chan Heng Fai Ambrose has recently increased his stake in the company through a series of stock purchases, according to the latest filings. Over two consecutive days, the CEO acquired a total of $32,453 worth of common stock, signaling his confidence in the real estate firm.
On June 4, 2024, Mr. Chan purchased 26,964 shares with prices ranging from $1.08 to $1.10, reflecting a weighted average price of $1.099. The following day, he added another 2,240 shares to his holdings, with individual trades priced between $1.22 and $1.28, averaging at $1.259 per share. These transactions have bolstered Mr. Chan's direct ownership in Alset Inc., with a combined total of 5,386,312 shares following the purchases.
The CEO's actions are part of his ongoing investment in Alset Inc., as he also indirectly owns an additional 319,000 shares through HFE Holdings Limited. With complete voting and investment power over these shares, Mr. Chan's total beneficial ownership amounts to 5,705,312 shares of the company's common stock.
Investors often monitor insider buying as it can be indicative of the leadership's view on the company's current valuation and future prospects. Mr. Chan's recent purchases may therefore be interpreted as a positive sign by the market.
The details of these transactions were made available through the company's latest SEC filings, which provide transparency on insider trades. Alset Inc. specializes in real estate development and has been navigating the dynamic real estate market with strategic initiatives led by Mr. Chan.
In other recent news, Alset EHome International has been warned by the Nasdaq Stock Market about potential delisting due to its stock price trading below the minimum $1 threshold for 30 consecutive business days. The company now has a 180-day period to raise its stock price above this threshold for at least ten consecutive business days. If Alset EHome manages to do this, Nasdaq will confirm that the company has regained compliance and the matter will be closed. Failure to meet this requirement by the compliance date could result in a notification of potential delisting, although the company would have the opportunity to appeal the decision. In response to the notice, Alset EHome is exploring various options to rectify the bid price deficiency and plans to actively monitor its stock price. This information is based on a recent SEC filing. These are recent developments regarding Alset EHome.
InvestingPro Insights
Following the recent insider buying activity by Alset Inc.'s (NASDAQ:AEI) CEO, Chan Heng Fai Ambrose, the market may gain new perspectives on the company's performance and outlook. Alset Inc. holds a modest market capitalization of $10.9 million, which could imply a more significant impact from insider transactions relative to larger firms.
Two notable InvestingPro Tips for Alset Inc. include the company's strong liquidity position, as it holds more cash than debt on its balance sheet, and its trading at a low Price / Book multiple of 0.13 as of the last twelve months ending Q1 2024. These metrics may suggest the company is undervalued and financially stable, possibly reinforcing the CEO's confidence in increasing his stake.
From the real-time data available on InvestingPro, Alset Inc. has demonstrated a remarkable revenue growth rate of 688.62% over the last twelve months as of Q1 2024. Additionally, the stock has experienced significant price movements with a 143.99% return over the last month. Despite these impressive figures, it's important to note that the company is not profitable over the last twelve months, with an operating income margin of -6.42%.
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