In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Asta Funding Inc. (NASDAQ:ASFI) reported that Stern Ricky has picked up 862,000 of common stock as of 2017-03-02.
The acquisition brings the aggregate amount owned by Stern Ricky to a total of 862,000 representing a 13.1% stake in the company.
For those not familiar with the company, Asta Funding, Inc. is primarily engaged in the businesses of acquiring, managing, servicing and recovering on portfolios of consumer receivables. The Company operates through four segments: Consumer Receivables, Personal Injury Claims, Structured Settlements and GAR Disability Advocates. The Consumer receivables segment is engaged in purchasing, managing for its own account and servicing distressed consumer receivables, including charged off receivables, semi-performing receivables and performing receivables. The Personal injury claims segment includes the operations of its subsidiary, Pegasus Funding, LLC. The Structured settlements segment includes the operations of CBC Settlement Funding, LLC (CBC). The GAR Disability Advocates segment includes the operations of GAR Disability Advocates, LLC (GAR Disability Advocates). GAR Disability Advocates is a social security benefit and disability advocacy group.
A glance at Asta Funding Inc. (NASDAQ:ASFI)’s key stats reveals a current market capitalization of 105.15 million based on 11.88 Million shares outstanding and a price at last close of $8.95 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-02-23, Stern picked up 471,086 at a purchase price of $10.35. This brings their total holding to 714,364 as of the date of the filing.
On the sell side, the most recent transaction saw Leibowitz unload 2,000 shares at a sale price of $8.07. This brings their total holding to 7,000.
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 Asta Funding Inc. (NASDAQ:ASFI) as things move forward to see if its progress aligns with these transactions.
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