Insider Buying: Texas Pacific Land Trust (TPL) Insider Buys 100 Shares of Stock

Texas Pacific Land Trust (NYSE:TPL) insider David E. Barry acquired 100 shares of the firm’s stock in a transaction dated Thursday, October 11th. The shares were acquired at an average price of $810.00 per share, with a total value of $81,000.00. Following the acquisition, the insider now owns 200 shares in the company, valued at approximately $162,000. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Shares of TPL traded up $0.68 during midday trading on Friday, hitting $785.68. 205 shares of the company’s stock traded hands, compared to its average volume of 16,722. Texas Pacific Land Trust has a 1 year low of $377.96 and a 1 year high of $877.97. The firm has a market cap of $6.72 billion, a PE ratio of 46.35 and a beta of 1.27.

Texas Pacific Land Trust (NYSE:TPL) last issued its quarterly earnings data on Tuesday, July 31st. The financial services provider reported $6.73 EPS for the quarter. The firm had revenue of $30.28 million during the quarter. Texas Pacific Land Trust had a return on equity of 141.91% and a net margin of 102.48%.

A number of hedge funds have recently modified their holdings of TPL. Steinberg Global Asset Management purchased a new position in Texas Pacific Land Trust in the 2nd quarter worth $9,024,000. Family Management Corp purchased a new position in Texas Pacific Land Trust in the 2nd quarter worth $7,392,000. White Elm Capital LLC purchased a new position in Texas Pacific Land Trust in the 2nd quarter worth $6,238,000. Renaissance Technologies LLC raised its stake in Texas Pacific Land Trust by 159.7% in the 2nd quarter. Renaissance Technologies LLC now owns 14,312 shares of the financial services provider’s stock worth $9,952,000 after acquiring an additional 8,800 shares during the last quarter. Finally, Millennium Management LLC raised its stake in Texas Pacific Land Trust by 213.2% in the 2nd quarter. Millennium Management LLC now owns 11,572 shares of the financial services provider’s stock worth $8,047,000 after acquiring an additional 7,877 shares during the last quarter. Institutional investors own 39.77% of the company’s stock.

Texas Pacific Land Trust Company Profile

Texas Pacific Land Trust holds title to tracts of land in the state of Texas. The company operates through two segments, Land and Resource Management, and Water Service and Operations. It sells, leases, and manages these lands for the benefit of the holders of Certificates of Proprietary Interest in the Trust.

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