Deng Long is Buying iFresh Inc. (NASDAQ:IFMK) Shares


In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), iFresh Inc. (NASDAQ:IFMK) reported that Deng Long has picked up 11,556,000 of common stock as of 2017-05-30.

The acquisition brings the aggregate amount owned by Deng Long to a total of 11,556,000 representing less than 80.79% stake in the company.

For those not familiar with the company, iFresh, Inc., formerly E-Compass Acquisition Corp., operates through its subsidiary, NYM Holding, Inc. (NYM). NYM is an Asian/Chinese grocery supermarket chain in the north-eastern United States providing food and other merchandise hard to find in mainstream grocery stores. As of December 31, 2016, NYM had eight retail supermarkets across New York, Massachusetts and Florida. As of December 31, 2016, NYM had two wholesale facilities. Its in-house wholesale businesses covers wholesale products and services both NYM retail supermarkets and external clients that range from wholesalers to retailing groceries and restaurants.

A glance at iFresh Inc. (NASDAQ:IFMK)’s key stats reveals a current market capitalization of 223.61 Million based on 17.24 Million shares outstanding and a price at last close of $12.94 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2017-05-10, Deng picked up 56,000 at a purchase price of $8.93. This brings their total holding to 11,176,000 as of the date of the filing.

On the sell side, the most recent transaction saw Deng unload 20,000 shares at a sale price of $8.93. This brings their total holding to 11,156,000.

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 iFresh Inc. (NASDAQ:IFMK) as things move forward to see if its progress aligns with these transactions.

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