Reliance Global Group, Inc. (NASDAQ:RELI) has seen significant insider trading activity, as reported in the latest filings with the Securities and Exchange Commission. The company's Chairman and CEO, Ezra Beyman, has engaged in both buying and selling of the company's common stock.
On May 30, 2024, Beyman purchased 186,000 shares of Reliance Global Group at a price of $0.27 per share, totaling $50,220. This acquisition increased his direct ownership in the company to 303,886 shares.
In a separate transaction on December 27, 2023, Beyman disposed of 88,382 shares at a price of $0.46 per share, which amounted to a total of $40,655. Following this sale, his direct holdings decreased to 117,886 shares.
These transactions reflect the ongoing financial activities of Reliance Global Group's top executive, providing investors with insight into insider sentiment. Shareholders often monitor such insider trades as they can signal executives' confidence in the company's prospects or may be done for personal financial management reasons.
Investors and market watchers keep a close eye on insider transactions, as they can provide valuable context for the company's financial health and future direction. Reliance Global Group, specializing in insurance agents, brokers, and services, continues to navigate the financial landscape with its leadership actively engaging in the market.
InvestingPro Insights
Reliance Global Group's market presence has been notably turbulent, as evidenced by the recent insider trading activity and the broader metrics that paint a picture of the company's financial health. As of the last twelve months ending Q1 2024, the company's Market Cap stands at a modest $1.76 million, reflecting its small-cap status. This could be a factor in the high price volatility that the stock generally trades with, as indicated by one of the InvestingPro Tips.
The company's financial performance metrics raise some concerns. The Price to Earnings (P/E) Ratio has been negative, sitting at -0.35, which suggests that the company has not been profitable over the past year. This aligns with another InvestingPro Tip highlighting the company's lack of profitability over this period. Additionally, the Gross Profit Margin is reported at 17.08%, which is relatively low and supports the InvestingPro Tip regarding weak gross profit margins.
Investors should note that the stock has experienced a significant downturn, with a one-year price total return of -94.52% as of the latest available data. This substantial decline is corroborated by multiple InvestingPro Tips pointing out the stock's poor performance over various time frames, including the last week, month, six months, and year.
For investors seeking a deeper analysis, there are additional InvestingPro Tips available that provide further insight into Reliance Global Group's stock performance and financial health. Subscribers to InvestingPro can access these tips and use the exclusive coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With this subscription, investors can stay informed with real-time data and expert analysis to better understand the risks and opportunities associated with Reliance Global Group.
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