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

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.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group began coverage on Millrose Properties in a research note on Thursday, February 27th. They issued a “buy” rating and a $25.00 target price on the stock.

Millrose Properties Price Performance

Insider Activity

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

About Millrose Properties

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.