Millrose Properties (NYSE:MRP) Shares Gap Up – Time to Buy?

Shares of Millrose Properties, Inc. (NYSE:MRP) gapped up prior to trading on Tuesday . The stock had previously closed at $22.00, but opened at $22.90. Millrose Properties shares last traded at $23.82, with a volume of 593,167 shares trading hands.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group initiated coverage on Millrose Properties in a research report on Thursday, February 27th. They issued a “buy” rating and a $25.00 price objective for the company.

Millrose Properties Trading Up 11.0 %

Insider Activity at Millrose Properties

In other news, insider Garett Rosenblum purchased 5,900 shares of Millrose Properties stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average cost of $22.84 per share, with a total value of $134,756.00. Following the completion of the purchase, the insider now directly owns 5,900 shares in the company, valued at approximately $134,756. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Carlos A. Migoya purchased 3,458 shares of Millrose Properties stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average cost of $22.45 per share, for a total transaction of $77,632.10. Following the completion of the purchase, the director now owns 10,106 shares of the company’s stock, valued at $226,879.70. This trade represents a 52.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Millrose Properties Company Profile

Millrose Properties, Inc is a real estate investment and management company that focuses on acquiring, developing, and managing high-quality commercial properties. They are headquartered in Purchase, New York.