LuxUrban Hotels Inc. (NASDAQ:LUXH – Get Free Report) was the target of a significant increase in short interest in September. As of September 30th, there was short interest totalling 1,550,000 shares, an increase of 65.1% from the September 15th total of 938,600 shares. Based on an average trading volume of 6,890,000 shares, the days-to-cover ratio is currently 0.2 days. Approximately 1.6% of the company’s stock are sold short.
Insiders Place Their Bets
In related news, CFO Michael C. James acquired 352,941 shares of the stock in a transaction on Monday, July 15th. The shares were bought at an average price of $0.17 per share, with a total value of $59,999.97. Following the completion of the purchase, the chief financial officer now owns 1,624,941 shares of the company’s stock, valued at approximately $276,239.97. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Robert Arigo acquired 176,470 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was purchased at an average cost of $0.17 per share, with a total value of $29,999.90. Following the purchase, the chief executive officer now directly owns 926,470 shares of the company’s stock, valued at approximately $157,499.90. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Michael C. James acquired 352,941 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was purchased at an average cost of $0.17 per share, with a total value of $59,999.97. Following the completion of the purchase, the chief financial officer now directly owns 1,624,941 shares in the company, valued at $276,239.97. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 794,116 shares of company stock valued at $135,000. 51.50% of the stock is currently owned by corporate insiders.
Institutional Trading of LuxUrban Hotels
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Perritt Capital Management Inc raised its position in shares of LuxUrban Hotels by 87.9% during the 2nd quarter. Perritt Capital Management Inc now owns 320,560 shares of the company’s stock worth $75,000 after purchasing an additional 150,000 shares during the period. Bleakley Financial Group LLC bought a new position in LuxUrban Hotels in the 1st quarter worth approximately $98,000. Finally, Quadrature Capital Ltd bought a new position in LuxUrban Hotels in the 4th quarter worth approximately $139,000. 28.46% of the stock is currently owned by institutional investors and hedge funds.
LuxUrban Hotels Stock Performance
About LuxUrban Hotels
LuxUrban Hotels Inc utilizes an asset light business model to lease entire hotels on a long-term basis and rent out hotel rooms in the properties it leases. It manages a portfolio of hotel rooms in New York, Washington DC, Miami Beach, New Orleans, and Los Angeles. The company was formerly known as CorpHousing Group Inc and changed its name to LuxUrban Hotels Inc in November 2022.
See Also
- Five stocks we like better than LuxUrban Hotels
- How to Invest in the FAANG Stocks
- 3 Mid-Cap Stocks Under $20 With Insider Buying and Major Upside
- How to Calculate Options Profits
- China’s EV Rally: Should Investors Chase, Avoid, or Buy the Dip?
- How to buy stock: A step-by-step guide for beginners
- MarketBeat Week in Review – 10/7 – 10/11
Receive News & Ratings for LuxUrban Hotels Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LuxUrban Hotels and related companies with MarketBeat.com's FREE daily email newsletter.