In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), 1347 Property Insurance Holdings Inc. (NASDAQ:PIH) reported that Fundamental Global Investors, Llc. has picked up 1,006,238 of common stock as of 2016-12-08.
The acquisition brings the aggregate amount owned by Fundamental Global Investors, Llc. to a total of 1,006,238 representing a 16.9% stake in the company.
For those not familiar with the company, 1347 Property Insurance Holdings, Inc. is a holding company. The Company, through its subsidiaries, is engaged providing property and casualty insurance. The Company offers homeowners’ insurance, manufactured home insurance and dwelling fire insurance. It writes both full peril property policies, as well as wind/hail only exposures and it distributes policies through independent insurance agents.
A glance at Property Insurance Holdings Inc. (NASDAQ:PIH)’s key stats reveals a current market capitalization of $47.04 million based on 5.96 million shares outstanding and a price at last close of $7.60 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-12-07, Fundamental picked up 100,000 at a purchase price of $7.57. This brings their total holding to 693,521 as of the date of the filing.
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 Property Insurance Holdings Inc. (NASDAQ:PIH) as things move forward to see if its progress aligns with these transactions.
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