Director Max Mitchell Acquires 25,000 Shares of Goodyear Tire & Rubber Co (GT)
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On August 9, 2024, Max Mitchell, a Director at Goodyear Tire & Rubber Co (NASDAQ:GT), purchased 25,000 shares of the company, as reported in a recent SEC Filing. Following this transaction, the insider now directly owns 25,000 shares of the company.
Goodyear Tire & Rubber Co is a prominent manufacturer of tires and rubber products, serving various automotive and truck markets globally.
Over the past year, Max Mitchell has engaged in multiple transactions involving the company's stock, purchasing a total of 67,000 shares. There have been no sales recorded by the insider during this period.
The insider transaction history for Goodyear Tire & Rubber Co shows a balance of activity over the past year, with 4 insider buys and 5 insider sells.
Shares of Goodyear Tire & Rubber Co were priced at $7.76 on the day of the insider's recent purchase. The company has a market cap of approximately $2.21 billion.
According to the GF Value, the intrinsic value of the stock is estimated at $12.20, suggesting that the stock is currently undervalued with a price-to-GF-Value ratio of 0.64. This valuation indicates a "Possible Value Trap, Think Twice" status, urging investors to be cautious.
The GF Value is calculated based on historical multiples such as price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, adjusted for the company's past performance and expected future business outcomes.
This insider buying activity could be a signal to investors, especially considering the current valuation metrics and recent stock performance.
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This article first appeared on GuruFocus.