On August 13, 2024, John Mcglade, a Director at Goodyear Tire & Rubber Co (NASDAQ:GT), purchased 31,408 shares of the company, as reported in a recent SEC Filing. Following this transaction, the insider now owns a total of 31,408 shares of the company.
Goodyear Tire & Rubber Co (NASDAQ:GT) is a prominent player in the tire manufacturing industry, providing a range of tires for various vehicle types globally.
The transaction occurred with the shares priced at $8.03, valuing the purchase at approximately $252,204.24. This acquisition has contributed to a total of 7 insider buys over the past year for the company, compared to 6 insider sells in the same period.
Currently, Goodyear Tire & Rubber Co has a market cap of approximately $2.36 billion. The stock’s valuation metrics show a price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow based on historical trading multiples and adjustments for past performance and future estimates.
The stock’s current price relative to the GF Value of $12.18 suggests a price-to-GF-Value ratio of 0.66, indicating that the stock might be undervalued and classified as a “Possible Value Trap, Think Twice” according to GuruFocus analysis.
This insider buying activity could be a significant indicator for investors, as it reflects the actions of individuals with an intimate understanding of the company’s operations and market conditions.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.