In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Rand Capital Corp (NASDAQ:RAND) reported that Utility Service Holding Co., Inc. has picked up 1,165,946 of common stock as of 2017-07-28.
The acquisition brings the aggregate amount owned by Utility Service Holding Co., Inc. to a total of 1,165,946 representing a 18.4% in the company.
For those not familiar with the company, Rand Capital Corporation is a closed-end, diversified, management investment company. The Company provides managerial assistance to the portfolio companies in which it invests. The Company makes venture capital investments in early or expansion-stage companies, typically in New York and its surrounding states. The Company makes the majority of its investments through its subsidiary, Rand Capital SBIC, Inc. (Rand SBIC), which operates as a small business investment company. The Company invests in a mixture of debt and equity instruments. The debt securities have an equity component in the form of warrants or options to acquire stock or the right to convert the debt securities into stock. The Company’s principal investment objective is to achieve long-term capital appreciation on its equity investments while maintaining a cash flow from the debenture and pass-through equity instruments. It makes initial investments in a company through equity or in debt or loan instruments.
A glance at Rand Capital Corp’s (NASDAQ:RAND) key stats reveals a current market capitalization of 17.83M based on 6.32M shares outstanding and a price at last close of $2.81 per share.
Looking at insider activity, there are a few recent transactions worth noting.
Specifically, on 2017-06-15, Zak picked up 20,000 at a purchase price of $$3.00 per share.This brings their total holding to 85,000 as of the date of the filing.
On the sell side, the most recent transaction saw Utility unload 19,334 shares at a sale price of $3.10. This brings their total holding to 1,165,946.
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 Rand Capital Corp (NASDAQ:RAND) 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.