Winmill & Co. Inc, an affiliate of the registered investment adviser, has recently purchased shares of Bexil Investment Trust (NYSE:BXSY) valued at more than $55,000. On July 12, 2024, the company acquired 4,320 shares at a price of $12.8991 each, expanding its investment in the trust.
This transaction reflects a continued interest from Winmill & Co. in Bexil Investment Trust, as indicated by the post-transaction ownership of 24,910 shares. The investment move was made public through a Form 4 filing with the Securities and Exchange Commission, which records the buying and selling activities of company insiders.
The reporting person for this transaction was Russell Kamerman, who signed on behalf of Winmill & Co. Incorporated. It's important to note that as an affiliate, Winmill & Co. maintains a significant relationship with Bexil Investment Trust's investment adviser.
Investors often monitor such insider transactions to gain insight into how the company's executives and affiliates are positioning themselves in the market. The acquisition of a substantial number of shares can be seen as a sign of confidence in the future prospects of the issuer.
Bexil Investment Trust, represented by the ticker symbol BXSY, is incorporated in the state of Delaware and operates within the unknown SIC - 0000 [0000] industry classification. The company's business address is listed at 2255 Buffalo Road, Rochester, NY, with a business phone number of 212-785-0900.
InvestingPro Insights
Winmill & Co. Inc's recent purchase of Bexil Investment Trust (BXSY) shares is a move that has caught the attention of market watchers, particularly as it suggests a vote of confidence from the investment adviser's affiliate. To better understand the potential implications of this purchase, let's delve into some key financial metrics from InvestingPro.
Despite a challenging environment, BXSY reported a gross profit of $5.59M for the last twelve months as of Q4 2023, which is remarkable as it represents a gross profit margin of 100%. This suggests that the company has been able to convert all of its revenue into gross profit, a rarity and a potential indicator of pricing power or a highly efficient cost structure.
However, it is important to note that BXSY has experienced a decline in revenue over the same period, with a -15.59% revenue growth year-over-year and a quarterly drop of -15.71% in Q4 2023. This contraction may raise questions about future growth prospects, though it hasn't deterred Winmill & Co. from increasing their stake.
From an earnings perspective, BXSY has demonstrated strength with a basic and diluted EPS (Earnings Per Share) from continuing operations of $3.35, which could be a factor influencing Winmill & Co.'s decision to invest. Additionally, investors might be attracted by the company's generous dividend yield of 7.8%, with the last dividend's ex-date on June 17, 2024.
For those interested in BXSY's market performance, the company has shown positive returns, with a 1-week price total return of 2.56%, and an even more impressive 1-year price total return of 21.05%. This trend could suggest a favorable market sentiment towards the company.
For investors seeking more in-depth analysis, InvestingPro offers additional insights. There are currently more InvestingPro Tips available to help you navigate the complexities of BXSY's financials and market position. To access these tips and enhance your investment strategy, use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription.
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