John C. Love, a director at InterGroup Corp (NASDAQ:INTG), recently sold 10,485 shares of the company's common stock. The transaction, which took place on December 20, 2024, was executed at a price of $14.25 per share, totaling approximately $149,411. This sale comes amid challenging market conditions for INTG, with the stock down nearly 33% over the past six months and trading significantly below its 52-week high of $26.68. Following this sale, Love no longer holds any shares in the company. This move was disclosed in a filing with the Securities and Exchange Commission, providing transparency for investors and market participants. While the company faces profitability challenges with negative earnings per share of -$4.09, InvestingPro analysis reveals management has been actively buying back shares, potentially signaling confidence in the company's future prospects. For deeper insights into insider trading patterns and 10+ additional key metrics, consider exploring InvestingPro's comprehensive analysis tools.
In other recent news, Intergroup Corporation is facing potential delisting from the Nasdaq Stock Market. The company has received a notice due to its failure to maintain the minimum Market Value of Listed Securities (MVLS) over a specified period. The notice stated that Intergroup did not meet the required minimum MVLS of $35 million from October 7, 2024, to November 20, 2024, which puts the company out of compliance with Nasdaq's continued listing standards.
Intergroup has been given a grace period until May 20, 2025, to regain compliance. The company must achieve an MVLS of at least $35 million for a minimum of ten consecutive business days to meet Nasdaq's requirements. If Intergroup fails to meet this criterion within the given timeframe, it could be subject to delisting procedures.
These are among the recent developments concerning Intergroup Corporation, which operates in the apartment buildings sector. The company, headquartered in Los Angeles, California, was formerly known as Mutual Real Estate Investment Trust before its name change in 1986.
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