In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Resonant Inc. (NASDAQ:RESN) reported that Longboard Capital Advisors, Llc. has picked up 4,183,459 of common stock as of 2017-03-02.
The acquisition brings the aggregate amount owned by Longboard Capital Advisors, Llc. to a total of 4,183,459 representing a 22.47% stake in the company.
For those not familiar with the company, Resonant Inc. is a late-stage development company. The Company creates filter designs for radio frequency (RF) front-ends for the mobile device industry. The RF front-end is the circuitry in a mobile device for analog signal processing and is located between the device’s antenna and its digital baseband. The Company uses a technology called Infinite Synthesized Networks (ISN) to configure and connect resonators, the building blocks of RF filters. The Company uses ISN to develop new classes of filter designs. The Company is also developing a series of single-band surface acoustic wave (SAW) filter designs for frequency bands. The Company is developing multiplexer filter designs for over two bands to address the carrier aggregation (CA) requirements of its customers. In addition, the Company is also developing reconfigurable filter designs to replace multiple filters for multiple bands. The Company is also involved in the development of a filter reconfigurable between three bands.
A glance at Resonant Inc. (NASDAQ:RESN)’s key stats reveals a current market capitalization of 58.51 Million based on 12.44 Million shares outstanding and a price at last close of $4.89 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-04-25, Holmes picked up 8,300 at a purchase price of $2.99. This brings their total holding to 35,300 as of the date of the filing.
On the sell side, the most recent transaction saw Lingren unload 696 shares at a sale price of $4.83. This brings their total holding to 379,473.
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 Resonant Inc. (NASDAQ:RESN) as things move forward to see if its progress aligns with these transactions.
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