Ursa Fund Management, LLC

10% owner Ursa Fund buys 10,900 shares ($292.8K) at WHLRD; unprofitable firm with -$33.3M net income

Ursa Fund Management, LLC, a 10% owner, executed 2 separate purchases totaling 10,900 shares for $292,760.19 at a blended average price of $26.86 on 2024-12-30 and 2024-12-31, raising its holdings to 399,200 shares (+2.8% vs pre-transaction holdings of 388,300 shares). The timing occurs near the 52-week high of $27.14 (current price $26.84 is -1.1% from that peak) and follows four prior buys at this ticker within the preceding 27 days, suggesting sustained accumulation activity. However, the company posted a net loss of $-33,320,000.00 over its most recent full fiscal year, and while quarterly revenue stood at $24,792,000.00 with annual growth of +33.5%, the fundamental profitability challenge constrains investor confidence. Among the insider's cross-ticker track record, prior buys averaged a 30-day return of +0.8%, but same-ticker outcomes at WHLRD remain largely unmeasured (the two most recent buys on 2024-12-20 and 2024-12-19 have not yet reached measurable windows), limiting visibility into whether this pattern of accumulation is yielding positive results at this specific position.

10% owner Ursa Fund Management buys 18,300 WHLRD shares ($463.9K) in 2 transactions; stock near 52-week high, company unprofitable.

Ursa Fund Management, a 10% shareholder, executed 2 separate purchases totaling 18,300 shares for $463,863.96 across December 19–20, 2024, increasing holdings by 4.9%. The purchases occurred at prices ($25.10 and $26.13) near the stock's 52-week high of $27.12, with current price at $25.61. The company posted negative net income of $-33,320,000.00 in its most recent full fiscal year while generating $24,792,000.00 in latest quarterly revenue, and the market cap stands at $33,147,279.10. Recent same-ticker activity shows 5 prior buys by this filer all concentrated within early December 2024, with outcomes not yet measurable. Prior cross-ticker transaction history shows 15 buys with average 30-day return of +0.2%.

Ursa Fund (10% owner) bought 32,066 shares of WHLRD at $25.11 on 2024-12-12 for $805,273.46; stock now at $24.26, -10.6% from 52-week high.

Ursa Fund Management added 32,066 shares to reach 370,000 shares total, a 9.5% increase in holdings. The transaction occurred at $25.11 per share, with the stock subsequently declining to $24.26 (currently trading -10.6% from its 52-week high of $27.12 and down 7.6% over 30 days). The company faces significant headwinds: Wheeler Real Estate is unprofitable with net income of -$33,320,000.00 against quarterly revenue of $24,792,000.00, though full-year revenue growth reached +33.5%. This purchase is one of five consecutive buys at WHLRD by Ursa Fund since November 25, 2024, suggesting sustained accumulation despite the stock's recent weakness. Across Ursa Fund's broader trading history, the insider's 14 prior buys averaged a positive 30-day return of +1.2%, though timing outcomes at this specific ticker remain unmeasurable as the recent trades have not yet reached 30-day or 90-day milestones.

10% owner Ursa Fund Management purchases 8,850 shares for $232,080.81 at blended avg $26.22, expanding stake +5.2% amid unprofitable operations

Ursa Fund Management, LLC executed 4 separate purchases totaling 8,850 shares for $232,080.81 on 2024-12-02 and 2024-12-03 at prices ranging from $26.14 to $26.50, expanding its holdings from 171,471 to 180,321 shares (+5.2%). This follows a pattern of five consecutive prior buys at WHLRD within the preceding two weeks (2024-11-18 through 2024-11-25), indicating sustained accumulation by a major stakeholder. The acquisition occurs in a company with quarterly revenue of $24,792,000.00 and negative net income of $-33,320,000.00, where the company was unprofitable over its most recent full fiscal year. The stock is currently priced at $26.40, only 0.7% above the blended transaction price and -2.6% from its 52-week high of $27.12, suggesting the purchases were executed near recent peaks rather than at valuation inflection points.

10% owner Ursa Fund Management purchases 8,843 shares for $222,581.91 in 4 transactions at WHLRD, raising stake to 175.8K shares

Ursa Fund Management, a 10% owner, executed 4 separate open-market purchases totaling 8,843 shares for $222,581.91 between November 22–25, 2024, at a blended average price of $25.17, expanding its post-transaction holdings to 175.8K shares (+5.3%). This represents the latest in a pattern of recent activity at Wheeler Real Estate, with 5 prior trades at this ticker within the past two weeks (November 14–18), all buy transactions. The current price of $25.13 sits -7.3% from the 52-week high of $27.12 and reflects a -4.2% decline over 30 days despite a +33.5% gain over 90 days. However, the underlying business fundamentals merit scrutiny: the company reported net income of $-33.3M on quarterly revenue of $24.8M and was unprofitable over its most recent full fiscal year, with a market capitalization of only $32.5M. The accumulation pattern during a period when the stock is tracking near session lows and the company remains deeply loss-making signals continued conviction from this significant shareholder despite deteriorating profitability metrics.

10% Owner Ursa Fund Management accumulates 20,241 shares ($511.7K) across 6 purchases; holdings rise to 172.7K (+13.3%)

Ursa Fund Management, LLC completed 6 separate purchases totaling 20,241 shares for $511,682.15 between 2024-11-14 and 2024-11-18, increasing its stake from 152,433 to 172,674 shares. The purchases occurred at a blended average price of $25.28, near the stock's 52-week high of $27.12 and above the current price of $24.84. The company remains unprofitable, reporting negative net income of $-33,320,000.00 for the latest full fiscal year, though it shows annual revenue growth of +33.5%. The accumulation by a significant 10% shareholder during a period when the stock has declined 5.3% over 30 days and sits 8.4% below its 52-week high warrants attention to the underlying investment thesis, particularly given the company's sustained losses despite revenue expansion.