In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), 180 Degree Capital Corp. (NASDAQ:TURN) reported that 180 Degree Capital Corp. has picked up 1,769,868 of common stock as of 2017-06-15.
The acquisition brings the aggregate amount owned by 180 Degree Capital Corp. to a total of 1,769,868 representing a 8.8% stake in the company.
For those not familiar with the company, 180 Degree Capital Corp., formerly Harris & Harris Group, Inc., is a non-diversified management investment company operating as a business development company. The Company’s investment objective is to achieve long-term capital appreciation by making venture capital investments. The Company specializes in making investments in companies commercializing and integrating products enabled by disruptive technologies mainly in the life sciences industry. The Company provides operational and management resources, and financial solutions to such companies. Its investment portfolio includes publicly traded and privately held companies. The Company has focused its investments on transformative companies in precision health and medicine. H&H Ventures Management, Inc. is a subsidiary of the Company.
A glance at 180 Degree Capital Corp. (NASDAQ:TURN)’s key stats reveals a current market capitalization of $46.38 Million based on $30.90 Million shares outstanding and a price at last close of $1.50 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-06-07, Rendino picked up 5,367 at a purchase price of $1.54. This brings their total holding to 282,057 as of the date of the filing.
On the sell side, the most recent transaction saw Egan unload 3,000 shares at a sale price of $5.14. This brings their total holding to 377.
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 180 Degree Capital Corp. (NASDAQ:TURN) as things move forward to see if its progress aligns with these transactions.
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