In recent market activity, MFP Partners LP, along with associated entities and individuals, reported selling shares of Trinity Place Holdings Inc. (NYSE:TPHS), a company operating in the nonresidential building sector. The transactions, which took place over a span of three days, amounted to a total value exceeding $53,000.
The sales began on May 15, 2024, with a reported 7,464 shares sold at $0.14 each. The following day, on May 16, the volume of shares sold increased significantly to 217,927, with each share fetching $0.15. The selling spree concluded on May 17, with an additional 124,609 shares sold at $0.16 per share. The prices at which the shares were sold ranged from $0.14 to $0.16.
These transactions were disclosed in a Form 4 filing with the Securities and Exchange Commission (SEC) by MFP Partners LP, MFP Investors LLC, and Jennifer Cook Price, who is associated with both entities. According to the filing, MFP Investors LLC is the general partner of MFP Partners LP, and Ms. Price serves as managing director for MFP Partners and managing member and managing director of MFP Investors.
The filing also included a disclaimer by the reporting individuals, stating that they may be deemed to be indirect beneficial owners of the shares sold but disclaim beneficial ownership except to the extent of their pecuniary interest. This sale has adjusted their direct holdings in Trinity Place Holdings Inc., yet the exact remaining interest of each reporting person was not disclosed in the summary provided.
Investors and market watchers often scrutinize such filings for insights into insider sentiment and potential shifts in company ownership. The sale of shares by significant stakeholders like MFP Partners LP and its affiliates may be of particular interest to those following the real estate and construction sectors.
InvestingPro Insights
As market participants analyze the recent sale of Trinity Place Holdings Inc. (NYSE:TPHS) shares by MFP Partners LP, InvestingPro data provides additional context to the company's current financial health and market performance. With a market capitalization of just $8.58 million USD, Trinity Place Holdings Inc. is a small-cap entity that has faced significant challenges, as reflected in its financial metrics.
InvestingPro data indicates that Trinity Place Holdings Inc. has a negative P/E ratio of -0.22, suggesting that the company is not currently profitable. This aligns with an InvestingPro Tip highlighting that the company has not been profitable over the last twelve months. Furthermore, the company's revenue has declined by a staggering 57.9% over the last twelve months as of Q1 2024, with a quarterly revenue decline of 83.99% in Q1 2024. This severe contraction in revenue may be a contributing factor to the insider sales activity observed.
Another InvestingPro Tip points out that Trinity Place Holdings Inc. trades with high price volatility. This is corroborated by recent price performance metrics, with the stock experiencing a 1-week price total return of 0.5%, a 1-month return of 1.96%, but a steep 3-month price total return of -22.27%. Over the last year, the stock has lost -75.83% of its value, indicating a significant downturn for shareholders.
For investors seeking a deeper dive into Trinity Place Holdings Inc.'s financials and market performance, additional InvestingPro Tips are available. These tips offer insights into aspects such as gross profit margins, debt levels, and liquidity, which are crucial for assessing the company's overall stability and potential for recovery. Interested readers can access these insights and benefit from the comprehensive analysis provided by InvestingPro. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking a total of 12 additional InvestingPro Tips for Trinity Place Holdings Inc. at https://www.investing.com/pro/TPHS.
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