In a recent transaction, Horizon Kinetics Asset Management LLC, a significant shareholder in Texas Pacific Land Corp (NYSE:TPL), reported acquiring additional shares of the company. The purchase, which took place on May 9, 2024, involved 3 shares at a price of $616.90 each, totaling $1,850.
Following this transaction, Horizon Kinetics Asset Management's holdings in Texas Pacific Land Corp have increased, reflecting a continued investment in the oil royalty trader's stock. The company, which has a robust presence in the real estate and construction sector, has been a part of Horizon Kinetics Asset Management's portfolio, as indicated by previous filings.
This latest acquisition demonstrates Horizon Kinetics Asset Management's ongoing commitment to Texas Pacific Land Corp, with the investment firm now holding a significant number of shares. It's worth noting that Horizon Kinetics Asset Management had previously reported beneficial ownership of 1,271,975 shares, with Murray Stahl, a key figure at the firm, having a direct interest in 2,474 shares and an indirect interest in approximately 53,550 shares.
Investors often keep a close eye on the buying and selling activities of major shareholders, as these can be indicative of the firm's confidence in the company's future prospects. The details of the transaction were disclosed in a Form 4 filing with the Securities and Exchange Commission.
InvestingPro Insights
As Horizon Kinetics Asset Management LLC enhances its stake in Texas Pacific Land Corp (NYSE:TPL), investors may find the following insights from InvestingPro particularly enlightening. Texas Pacific Land Corp holds a strong financial position, as evidenced by its impressive cash reserves that exceed its debt, which is an InvestingPro Tip highlighting the company's robust balance sheet.
Moreover, the company's gross profit margins are notably high, with a gross profit margin of 94.69% for the last twelve months as of Q1 2023. This remarkable efficiency in generating profit from its revenues is a testament to the company's operational excellence and provides a strong foundation for future growth.
InvestingPro Data further reveals that Texas Pacific Land Corp has seen a significant return over the last week, with a 9.55% price total return. This performance, along with a solid return over the last three months of 26.18%, suggests that the company's stock is currently experiencing positive momentum, which could be of interest to potential investors.
For those considering a deeper dive into Texas Pacific Land Corp, InvestingPro offers additional insights, with a total of 16 InvestingPro Tips available for the company. These tips provide a comprehensive analysis of the company's financial health, market performance, and valuation metrics. To access these valuable tips and enhance your investment strategy, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
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