Murray Stahl, CEO and CIO of Horizon Kinetics Holding Corp (NYSE:HKHC), has increased his stake in the company through recent stock purchases. According to a recent SEC filing, Stahl acquired a total of 14 shares of Horizon Kinetics common stock on November 19, 2024, at a price of $36.78 per share. The total value of these transactions amounted to $514.
Following these transactions, Stahl directly owns a total of 248,642 shares. Additionally, he holds indirect interests in shares through entities such as Horizon Common Inc. and FRMO Corp., among others. Some of these shares were obtained as part of a merger earlier in August 2024 and are not available for trading. The filing indicates that Stahl exercises discretion over these shares, though he disclaims beneficial ownership beyond his pecuniary interest.
InvestingPro Insights
Recent data from InvestingPro sheds additional light on Horizon Kinetics Holding Corp's financial position and market performance, providing context to Murray Stahl's recent stock purchases. The company's market capitalization stands at $670.87 million, reflecting its current valuation in the market.
Notably, Horizon Kinetics has demonstrated strong recent performance, with InvestingPro data showing a 48.98% price return over the past month and an impressive 55.98% return over the last three months. This aligns with the InvestingPro Tip indicating a "Strong return over the last three months," suggesting that Stahl's increased investment comes during a period of positive momentum for the stock.
However, investors should note that the company is trading at a high earnings multiple, with a P/E Ratio (Adjusted) of 456.66 for the last twelve months as of Q3 2024. This high valuation metric is corroborated by another InvestingPro Tip stating that the stock is "Trading at a high earnings multiple." This could indicate that the market has high growth expectations for Horizon Kinetics, but it also suggests that the stock may be priced at a premium.
For those seeking a more comprehensive analysis, InvestingPro offers 12 additional tips for Horizon Kinetics Holding Corp, providing deeper insights into the company's financial health and market position.
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