Boston, MA 09/12/2014 (wallstreetpr) – Specialty finance company, Imperial Holdings, Inc. (NYSE:IFT) has witnessed insiders buying shares of the company for the fourth time in September. While Director James Chadwick was the most recent buyer of the shares, Chairman of the Board Phillip Goldstein was the other acquirer of shares in the current month.
Acquire Shares
The Imperial Holdings, Inc. (NYSE:IFT) Director, James Chadwick, has purchased 28,000 shares on September 10 indirectly through Ancora Catalyst Fund LP, according to Form 4 filed on September 11 with the regulator. He has bought the shares at the rate of $6.5 a share and paid $182,000.
The acquiring price indicated that the Director has paid a premium of 38% over the yearly low price of $4.71 and a discount of nearly 10% over the 52-week high price of $7.21. The acquisition was the first purchase through Ancora Catalyst Fund LP. He continues to hold 12,427 shares directly.
Chairman Acquisition
In September alone, independent Chairman of the board, Phillip Goldstein, has bought 763, shares, 8,400 shares and 200 shares on September 9, 5 and 4 respectively at different rates. In all, he has acquired 9,363 shares for $61,527. He has also acquired most of the shares at $6.59 a share except 763 shares at the rate of $6.36. Therefore, he has paid more or less the same premium and discount over the yearly high and low prices.
12-Month Activities
In the last three-month period, there 18 transactions of insider trading and all belonged to buying of shares from the open market, according to Nasdaq data. In terms of number of shares, 82,349 shares were acquired during the period.
Similarly, for a one-year period, there were 41 transactions of insider trading activities. While 38 transactions related to buying activities, only three dealt with the sale activities. This meant that there were 261,637 shares acquired compared to 214,056 shares sold during the 52-week period. This has left a net buying activity of 47,581 shares.
The fact that there was only buying activities among the insiders in the last three-month period could indicate that the stock performance could see an uptrend in the coming months, and the negative sentiments seemed to be over.
