Frank Benintendo, the Secretary of Global Tech Industries Group, Inc. (OTC:GTII), has recently sold shares of the company's common stock. The transaction, which took place on March 15, 2024, involved the sale of 7,882 shares at a price of $0.2953 per share, amounting to a total value of $2,327.
Investors tracking insider activity may note that the shares were sold under a pre-arranged 10b5-1 trading plan, a tool often used by corporate insiders to sell shares over a predetermined period of time, in a manner that is compliant with the rules against insider trading.
Following the sale, Benintendo's remaining holdings in GTII amount to 8,716,155 shares of common stock. The sale was executed directly, indicating that Benintendo personally owns the shares sold.
Global Tech Industries Group, Inc., a management services company incorporated in Nevada, is known to investors by its former names, which include Tree Top Industries, Inc., GoHealth MD Inc., and Nugget Exploration Inc. The company's business address is located in New York, NY.
For investors following GTII, this recent sale by a key executive may be of interest as they assess the company's insider trading activities and consider their own investment decisions.
InvestingPro Insights
Global Tech Industries Group, Inc. (GTII) has been a subject of interest for investors, particularly in light of recent insider trading activity. As investors look to understand the implications of such insider transactions, it is important to consider the broader financial context in which these sales occur. According to real-time data from InvestingPro, GTII has a market capitalization of $116.52 million and has been experiencing significant price volatility.
InvestingPro Data also reveals that GTII has a negative Price to Earnings (P/E) ratio of -0.984, which has adjusted to -1.29 over the last twelve months as of Q3 2023. This indicates that the company has not been profitable during this period. Moreover, the Price to Book (P/B) ratio stands at 11.45, suggesting that the stock is trading at a high multiple of its book value, which could be a point of concern for value-oriented investors.
Two key InvestingPro Tips for GTII highlight that the stock suffers from weak gross profit margins and does not pay a dividend to shareholders. These factors may influence investor sentiment and decision-making, especially for those focused on profitability and income generation from their investments. Additionally, it is worth noting that the stock price has fallen significantly over the last year, with a one-year total return of -82.1%.
For those interested in a deeper dive into GTII’s financial metrics and additional insights, InvestingPro offers a comprehensive list of tips. In fact, there are 11 additional InvestingPro Tips available for GTII, which can be found at: https://www.investing.com/pro/GTII. Investors looking to leverage these insights can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
Understanding these financial metrics and considering the strategic moves of company insiders like Frank Benintendo can provide a more nuanced perspective for investors as they evaluate GTII's potential for their portfolios.
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