Director Rainer Bosselmann sells shares of Argan Inc (AGX)

On September 11, 2024, Rainer Bosselmann, a director of Argan Inc (NYSE:AGX), sold 27,840 shares of the company. The transaction was reported on the same day through the SEC Filing. Following this sale, the insider now holds 219,879 shares of Argan Inc.

Argan Inc is engaged in the engineering, procurement and construction of power plants. The company operates through its subsidiaries, including Gemma Power Systems and Atlantic Projects Company, focusing on power generation and renewable energy.

Over the past year, Rainer Bosselmann has sold a total of 229,037 shares and has not made any purchases of shares in the company. This latest transaction is part of a broader trend observed at the company, where there have been 16 insider sales and only 1 insider purchase over the past year.

Argan Inc. shares were valued at $89.61 on the day of the sale. The company’s market capitalization is around $1.198 billion. The price-to-earnings ratio is 27.92, which is higher than both the industry median of 15.13 and the company’s historical median.

According to GF Value, the estimated intrinsic value of Argan Inc. stock is $65.45 per share, which means the stock is significantly overvalued, with GF’s price-to-value ratio being 1.37.

An insider sale may be of interest to current and potential investors because it provides an insider’s perspective on the valuation of the stock relative to its current trading price.

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This article originally appeared on GuruFocus.