Boston, MA 09/02/2014 (wallstreetpr) – One of the major shareholders of consumer-driven service operator Angie’s List Inc (NASDAQ:ANGI), TRI Investments LLC had made fresh purchase of Angie’s List shares on Thursday last. The company seemed to have taken the advantage of the lower price to acquire the shares. Interestingly, this is the fifth purchase by the insiders in the last three-month period.
Acquires Shares
TRI Investments LLC had purchased 2,688 shares on August 28 at an average price of $7.71. The company had to pay close to $20.7K to buy these shares. Angie’s List Inc (NASDAQ:ANGI) Chairman of the Board, John Chuang, and Independent Director, Steven Kapner has been named as an indirect beneficiary of ownership in a filing with the Securities and Exchange Commission.
The investment company had paid only 19 cents or 2.5% more than the 52-week low price of $7.52. However, it had acquired the shares at a whopping discount of 69.4% compared to the yearly high price of $25.18.
Previous Purchase
On July 28 also, two Directors of the company, Michael Maurer and Britto Mark, have resorted to acquiring 12K and 25K shares respectively at an average cost of $8.15 and $8.18 a share respectively. They have paid $97.8K and $204.5K respectively to buy these shares, according to the data in Nasdaq. The purchase price indicated a 67.5% discount to the highest share price in a year.
Total Insider Activities
In the last one-year period, insider activities were dominated by the sale activities. It was only in the last three-month period, five transactions of buying activities were reported by Angie’s List Inc (NASDAQ:ANGI). Interestingly, these five transactions of 45,064 shares have also outnumbered the sale of 47.8K shares during the same period. In effect, there was a net sale of 2,736 shares by the insiders.
On the other hand, the last 12-month period witnessed 74 transactions, and 69 transactions were associated with the sale activities. In trading activities of approximately 577K shares, 532K shares were reported for sale activities and about 45K shares for buying activities. This had left the net sale activities to be about 487K shares during the last year-period.
The buying activities by the insiders in the last few months could well suggest that the stock price had bottomed out and its time for an uptick.
