In a recent transaction, Teddy Ray Price, a director at Red River Bancshares Inc (NASDAQ:RRBI), purchased shares of the company's common stock valued at over $41,000. The stock acquisition, which took place on May 3, 2024, was executed in multiple trades within a price range of $47.076 to $47.99.
The transaction report indicates that Price bought 738 shares at a weighted average price of $47.076, with the transaction executed in various trades ranging from $47.0699 to $47.0851. Additionally, Price acquired 121 shares at a price of $47.99 each and another 10 shares at the same price. The total number of shares acquired in these transactions amounted to 869 shares.
Following these purchases, Price's direct holdings in Red River Bancshares Inc have increased significantly. The report also notes that Price's overall holdings include 16,500 shares in an estate for which he serves as an executor, with the expectation of gaining ownership upon the estate's settlement.
Investors and stakeholders of Red River Bancshares Inc may find this information indicative of the director's confidence in the company's prospects. The financial details and the director's increased stake in the company are now a matter of public record, providing transparency to the market.
InvestingPro Insights
Red River Bancshares Inc (NASDAQ:RRBI) has caught the attention of investors following the recent stock purchase by director Teddy Ray Price. As stakeholders evaluate the implications of this insider transaction, certain metrics and insights provided by InvestingPro can offer a deeper understanding of the company's financial health and future potential.
InvestingPro Data reveals that Red River Bancshares Inc has a market capitalization of $327.46 million, with a Price to Earnings (P/E) ratio standing at 10.13. Adjusting for the last twelve months as of Q1 2024, the P/E ratio slightly decreases to 9.86, which may suggest a more favorable valuation compared to previous periods. The company's revenue for the same period was reported at $105.56 million, although it experienced a decline of 2.17% in revenue growth.
One InvestingPro Tip indicates that analysts predict Red River Bancshares will be profitable this year, aligning with the director's recent investment. This is supported by the company's performance over the last twelve months, where it remained profitable. However, an area of concern noted in another InvestingPro Tip is the weak gross profit margins, which investors should monitor as it may impact future earnings.
For those interested in a comprehensive analysis, there are additional InvestingPro Tips available, which can be found by visiting the dedicated page for Red River Bancshares at https://www.investing.com/pro/RRBI. Subscribers can use the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription, gaining access to a wealth of insights that could further inform investment decisions.
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