Gigamedia Ltd. (NASDAQ:GIGM) is Attracting Smart Money

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In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Gigamedia Ltd (NASDAQ:GIGM) reported that Honig Jonathan has picked up 1,029,137 of common stock as of 2017-05-25.

The acquisition brings the aggregate amount owned by Honig Jonathan to a total of 1,029,137 representing less than 9.31% stake in the company.

For those not familiar with the company, GigaMedia Limited is a holding company with a portfolio of businesses providing online games and cloud computing services. The Company operates through two segments: Asian online game and service, and cloud service business. The Company has online game operations in Taiwan, Hong Kong and Macau and a cloud computing software and services business based in Taipei. In online games, the Company owns and operates FunTown, an online game portal in Taiwan and Hong Kong. In cloud computing, it owns and operates GigaCloud, a provider of cloud computing solutions and related services focused on the cloud services market for small and medium-sized enterprises (SMEs) in Taiwan. FunTown is focused on the mobile and browser-based casual games and social casino games markets in Asia. The Company’s FunTown platform provides various online game services, which include Player Clubs, Tournaments, Avatars, Friends and Family Messenger, Social Networking, Customer Services and Other Platforms.

A glance at Gigamedia Ltd (NASDAQ:GIGM)’s key stats reveals a current market capitalization of 32.05 Million based on 11.05 Million shares outstanding and a price at last close of $2.89 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2016-12-14, Hwang picked up 39,000 at a purchase price of $2.77. This brings their total   holding to 675,833 as of the date of the filing.

On the sell side, the most recent transaction saw Criterion unload 377,586 shares at a sale price of $4.92. This brings their total holding to 4,764,716.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Gigamedia Ltd (NASDAQ:GIGM) as things move forward to see if its progress aligns with these transactions.

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