In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Modsys International Ltd (NASDAQ:MDSYF) reported that Columbia Pacific Advisors, Llc has picked up 10,090,416 of common stock as of 2017-07-28.
The acquisition brings the aggregate amount owned by Columbia Pacific Advisors, Llc to a total of 10,090,416 representing a 45.39% in the company.
For those not familiar with the company, ModSys International Ltd., formerly BluePhoenix Solutions Ltd., develops and markets enterprise legacy migration solutions, and provides tools and professional services to international markets. The Company operates through information technology (IT) modernization solutions segment. The Company’s technologies and services allow businesses to migrate from their legacy mainframe and distributed IT infrastructures to modern environments and programming languages. In addition to the technology tools, the Company provides professional services for project management of migrations, understanding and mapping of the applications, testing, remediation, and ongoing monitoring and management of the environments. The Company performs conversions of legacy databases, such as Integrated Database Management System (IDMS), Adaptable Data Base System (ADABAS), Virtual Storage Access Method (VSAM), Oracle and database 2 (DB2) environments.
A glance at Modsys International Ltd (NASDAQ:MDSYF)’s key stats reveals a current market capitalization of 14.31M based on 19.09M shares outstanding and a price at last close of $0.750 per share.
Looking at insider activity, there are a few recent transactions worth noting.
Specifically, on 2017-07-26, Columbia picked up 1,050 at a purchase price of $0.75 per share.This brings their total holding to 9,910,949 as of the date of the filing.
On the sell side, the most recent transaction saw Lake unload 159,356 shares at a sale price of $1.04. This brings their total holding to 1,818,973.
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 Modsys International Ltd (NASDAQ:MDSYF) as things move forward to see if its progress aligns with these transactions. Subscribe below and we’ll keep you on top of what’s happening before it moves markets.