In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Five Oaks Investment Corp. (NYSE:OAKS) reported that Xl Investments Ltd. has picked up 7,794,537 of common stock as of 2017-06-16.
The acquisition brings the aggregate amount owned by Xl Investments Ltd. to a total of 7,794,537 representing a 36.61% stake in the company.
For those not familiar with the company, Five Oaks Investment Corp. is a real estate investment trust. The Company is focused on investing on a leveraged basis in mortgage and other real estate-related assets, particularly residential mortgage loans and mortgage-backed securities (MBS). The Company invests in various assets, such as Agency residential MBS (RMBS); securitizations backed by multi-family mortgage loans, or Multi-Family MBS; residential mortgage loans and other mortgage-related investments, including mortgage servicing rights (MSRs), and Non-Agency RMBS. The Company finances its investments in Agency RMBS, Multi-Family MBS, residential mortgage loans and Non-Agency RMBS primarily through short-term borrowings structured as repurchase agreements. The Company is externally managed and advised by Oak Circle Capital Partners LLC.
A glance at Five Oaks Investment Corp. (NYSE:OAKS)’s key stats reveals a current market capitalization of $73.95 Million based on $17.54 Million shares outstanding and a price at last close of $4.62 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-12-27, Cummins picked up 4,794 at a purchase price of $5.50. This brings their total holding to 20,794 as of the date of the filing.
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 Five Oaks Investment Corp. (NYSE:OAKS) as things move forward to see if its progress aligns with these transactions.
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