Haslam Acquires Nearly 10,000 Shares of Ryman Auditorium Owner
Former Tennessee Governor, Bill Haslam, just expanded his investment portfolio significantly. He purchased close to 10,000 shares of Ryman Hospitality Properties Inc., an organization which owns and manages the Gaylord Opryland Resort & Convention Center.
Stake Increase in Ryman Hospitality Properties
Haslam, who served as the Tennessee governor from 2011 to 2019, is currently one of the ten directors of Ryman Hospitality Properties Inc. His recent acquisition is a clear signal of his strong belief in the future of the company. The online stock market data source, GuruFocus Research, citing an SEC filing, stated that the 9,972 common shares that Haslam purchased now give him a total of 22,790 RHP shares. The shares were priced at about $100.28 when Haslam made the purchase, which amounts to a total price of approximately $999,992.16.
Since Haslam joined the RHP board in mid-2023, he has increased his holdings in the company by purchasing 21,479 shares. GuruFocus Research reported that the company witnessed four insider buys and seven insider sells during the same period.
Ryman Hospitality Properties: A Leading Real Estate Investment Trust
Ryman Hospitality Properties specializes in real estate investment, focusing on convention and meeting hotel properties in both urban and resort markets. On the day of Haslam’s recent share purchase, an estimated 562,800 shares traded hands. The price of the company’s stock (ticker: RHP) ended the trading session last Friday valued at $98.83, representing a 1.22 percent decrease. The stock initiated the year trading at $111.38.
Bill Haslam: A Symbol of Continuous Investment
Haslam, a Republican billionaire and former Knoxville mayor from 2003 to 2011, acquired the RHP shares on June 13. Besides his political career, Haslam is known for his business acumen and investment strategies. His recent purchase of nearly 10,000 RHP shares reaffirms his confidence in the future prospects of the company.
Haslam’s step towards increase in investment in Ryman Hospitality Properties Inc., points towards the importance of continuous investment and support for local businesses. As one of the major players in the convention and meeting hotel property domain, Ryman Hospitality can significantly contribute to the local economy and job creation.
In conclusion, the former governor’s increased investment in Ryman Hospitality Properties Inc. sets a positive note for the company’s future prospects and affirms the stability of local investments. For other investors, this action serves as a key insight into the current market trends and possible future opportunities within the realm of real estate investment trusts.
