Vote of confidence? Yair Levinstein CEO of Altshuler Shaham Investment House
Altshuler Shaham Pen
-0.19%
Base:787.7
opening:810
High:819
low:769.6
change:6,505,742
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last week made two purchases of the company’s shares for over NIS 2 million.
Levinstein made the first purchase on Monday, October 3, in which he purchased approximately 130,000 shares for NIS 1.02 million. This purchase came after the day before the stock fell by 5.7%, but it seems that Levinstein’s purchase jumped back up the company’s stock in trading that day by 8.3%. On the following Thursday, October 6, Levinstein purchased approximately 125,000 additional shares for a similar amount. In total, Levinstein now owns no less than 27.9 million shares.
The investment house Altshuler Shaham is going through a difficult year in the capital market with bigger losses than its competitors and has also experienced many redemptions in the billions of shekels, however it should be remembered that one year does not prove anything.
Altshuler Shaham’s share fell from April by 52% to a price of NIS 7.8, which represents a value of NIS 1.55 billion. The profit of the investment house in the first half of this year amounted to NIS 120 million on revenues of NIS 702.2 million. In 2021 as a whole, the company earned NIS 258.3 million on revenues of NIS 1.42 billion. The value expresses a profit multiplier of 6.
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