Boston, MA 09/29/2014 (wallstreetpr) – An exploration-stage company, Silver Bull Resources Inc (NYSEMKT:SVBL) witnessed its major shareholders, Lazarus Investment Partners LLLP, resorting to buying more number of shares from the open market in the last three day sessions of the last week. The latest acquisition of shares was the second to be reported for insider trading activities in the current month of September.
Acquire Shares
According to a Form 4 filed with the SEC on September 26, Lazarus Investment Partners has purchased 37,134 shares on September 23 at the rate of 20 cents a share, 55,300 shares at the rate of 19 cents a share on September 24 and 82,961 shares at a cost of 21 cents a share on September 26. Together, the investment company has bought a total of 175,395 shares by paying $35,356.
The buying price indicated that the investment company has paid a discount of 54.6% over the 52-week high price of 44 cents a share and a premium of 11.11% from the one-year low price of 18 cents a share. As a result of the latest buying, Lazarus Investment Partners holding in the company increased to 17.39 million shares worth about $3.65 million.
In September, Silver Bull Resources Inc (NYSEMKT:SVBL)’ Chairman, Brian Edgar, acquired 100,000 shares indirectly at the rate of 19 cents a share.
One-Year Insider Trading
In the last three months, there were only two insiders to indulge in acquiring shares of the company. While Lazarus Investment Partners kick started the process on September 23, the Chairman followed it on the next day. According to a data from Nasdaq, there was only one transaction of insider trading before the latest one. Therefore, there was a total buying of 275,395 shares through four transactions in the last three-month period.
Similarly, for the last one-year period, there were 28 transactions of insider trading activities. All the transactions were in relation to the purchase of 1.21 million shares during the 52-week period. Significantly, there was no selling from the insiders in the last one-year period, which could be attributed to the shares trading near the 52-week low price.
