In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Function(X) Inc. (NASDAQ:FNCX) reported that Sillerman Robert F X has picked up 18,107,663 of common stock as of 2017-05-18.
The acquisition brings the aggregate amount owned by Sillerman Robert F X to a total of 18,107,663 representing less than 60.41% stake in the company.
For those not familiar with the company, Function(x) Inc., formerly DraftDay Fantasy Sports, Inc., is a diversified media and entertainment company. The Company conducts three lines of businesses, which are digital publishing through Wetpaint.com, Inc. (Wetpaint) and Rant, Inc. (Rant); fantasy sports gaming through DraftDay Gaming Group, Inc. (DDGG), and digital content distribution through Choose Digital, Inc. (Choose Digital). The Company’s segments include Wetpaint, which is a media channel reporting original news stories and publishing information content covering television shows, music, celebrities, entertainment news and fashion; Choose Digital, which is a business-to-business platform for delivering digital content; DDGG, which is a business-to-business operator of daily fantasy sports, and Other. The Company’s digital publishing business also includes Rant, which is a digital publisher that publishes original content in over 13 verticals, such as in sports, entertainment, pets, cars and food.
A glance at Function(X) Inc. (NASDAQ:FNCX)’s key stats reveals a current market capitalization of 5.44 Million based on 8.82 Million shares outstanding and a price at last close of $0.621 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2012-09-28, Sillerman picked up 2,700,000 at a purchase price of $1.19. This brings their total holding to 48,967,000 as of the date of the filing.
On the sell side, the most recent transaction saw Arrix unload 15,000 shares at a sale price of $2.27. This brings their total holding to 139,539.
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 Function(X) Inc. (NASDAQ:FNCX) as things move forward to see if its progress aligns with these transactions.
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