Jorge Gonzalez, President and CEO at St. Joe Co (JOE) recently bought 1,200 shares. The buy increased his holdings by 3 percent, and came to a total price of $54,588.
This is the first insider buy in about a year. Gonzalez was also the most recent buyer in June 2022, picking up 1,200 shares at a price of $49,584. Since then, a director and major holder has sold shares on three occasions.
Overall, insiders own 5.4 percent of shares.
The property developer and operator is up about in-line with the overall stock market in the past year with an 18 percent return. Shares are going for about 39 times earnings, and trade at about four times their book value.
Shares have had a big jump in price in the past few years, as property values in Florida, where the company operates, have jumped higher. That may justify most of the current valuation in shares today.
Action to take: St. Joe likely has more upside ahead as the company continues to develop properties in the Florida panhandle.
Today’s investors can get a 0.9 percent dividend yield, but should be patient and look to buy shares under $40, or about a 10 percent drop from the current price.
For traders, the stock has been range-bound over the past few months, and is near the high end of its range.
The September $40 puts, last going for about $0.75, could trend higher in the next few months on a pullback in shares. Traders could then play a move off the low end of the range higher.
Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.