© Reuters. 10% Owner of Portman Ridge Finance Purchased $1.33M In Stock
Benzinga – Repertoire Master Fund LP10% Owner at Portman Ridge Finance (NASDAQ:PTMN), reported a large insider buy on May 2, according to a new SEC filing.
What Happened: A Form 4 filing from the US Securities and Exchange Commission on Tuesday showed that LP purchased 60,208 shares of Portman Ridge Finance. The total transaction amounted to $1,325,713.
Portman Ridge Finance shares are trading up 0.45% at $20.05 at the time of this writing on Wednesday morning.
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The Importance of Insider Transactions Insider transactions should’t be used primarily to make an investing decision, however an insider transaction can be an important factor in the investing decision.
In legal terms, an “insider” refers to any shareholder who owns at least 10% of a company. This can include executives in the c-suite and large hedge funds. These insiders are required to let the public know of their transactions via a Form 4 filing, which must be filed within two business days of the transaction.
When a company insider makes a new purchase, that is an indication that they expect the stock to increase.
Insider sales, on the other hand, can be made for a variety of reasons, and may not necessarily mean that the seller thinks the stock will go down.
Important Transaction Codes Investors prefer focusing on transactions that take place in the open market, indicated in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S indicates a sale. Transaction codes C indicates the conversion of an option, and transaction code A indicates the insider may have been forced to sell shares in order to receive compensation that had been promised upon being hired by the company.
Check Out The Full List Of Portman Ridge Finance’s Insider Trades.
This article was generated by Benzinga’s automated content engine and reviewed by an editor.
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