In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), MRV Communications Inc. (NASDAQ:MRVC) reported that Raging Capital Management has picked up 2,136,864 of common stock as of 2017-07-06.
The acquisition brings the aggregate amount owned by Raging Capital Management to a total of 2,136,864 representing a 31.4% stake in the company.
For those not familiar with the company, MRV Communications, Inc. (MRV) is a supplier of communications solutions to telecommunications service providers, enterprises and governments throughout the world. The Company’s products enable customers to provide high-bandwidth data, and video services and mobile communications services. The Company operates through Network Equipment segment. Its Network Equipment segment designs, manufactures, sells and services equipment used by commercial customers, governments and telecommunications service providers. Its products include switches, optical transport platforms, physical layer products and out-of-band management products, and specialized networking products. MRV markets and sells its products, through a range of channels, which include a direct sales force, manufacturers’ representatives, value-added-resellers, distributors and systems integrators. The Network Equipment business includes two business units: Optical Communications Systems division and Appointech, Inc.
A glance at MRV Communications Inc. (NASDAQ:MRVC)’s key stats reveals a current market capitalization of $67.32 Million based on $6.80 Million shares outstanding and a price at last close of $9.95 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2015-06-24, Martin picked up 1,200 at a purchase price of $10.44. This brings their total holding to 2,136,864 as of the date of the filing.
On the sell side, the most recent transaction saw Miller unload 25,000 shares at a sale price of $11.00. This brings their total holding to 11,250.
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 MRV Communications Inc. (NASDAQ:MRVC) as things move forward to see if its progress aligns with these transactions.
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