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In a recent transaction, Robert E. Bigelow III, Vice President and Head of Fund Development at 180 Degree Capital Corp. (NASDAQ:TURN), acquired 1,500 shares of the company’s common stock. The shares were purchased at an average price of $4.0946 per share, amounting to a total investment of $6,141. Following this transaction, Bigelow’s direct ownership in the company increased to a total of 129,005 shares. The purchase comes as the stock trades near its 52-week high of $4.25, with the micro-cap company currently valued at $40.2 million. Despite showing impressive revenue growth of 254% over the last twelve months, InvestingPro analysis indicates the company is not currently profitable.
This purchase reflects Bigelow’s continued confidence in 180 Degree Capital, a firm known for its strategic investments and development initiatives. Investors often watch insider transactions closely, as they can provide insight into the company’s future prospects and the management’s outlook. For deeper insights into TURN’s valuation and growth potential, InvestingPro subscribers can access exclusive tips and comprehensive financial analysis in the Pro Research Report, one of 1,400+ detailed company analyses available on the platform.
In other recent news, 180 Degree Capital Corp. announced a proposed all-stock merger with Mount Logan Capital Inc. The merger aims to create a new entity, Mount Logan Capital Inc., which will be listed on Nasdaq. Shareholders of 180 Degree Capital will receive shares in the new company based on the net asset value at closing, with Mount Logan valued at approximately $67.4 million at the time of signing. The merger is subject to shareholder approval and regulatory clearances. Kevin M. Rendino, CEO of 180 Degree Capital, expressed confidence in the merger’s potential to generate value for shareholders. The company’s President, Daniel B. Wolfe, noted the positive performance of their investment portfolio, which has outperformed the Russell Microcap Index. A blackout period for management trading of 180 Degree Capital shares is in effect, with an expected trading window reopening upon filing of updated financial statements. Shareholders are encouraged to review forthcoming proxy materials for detailed transaction information.
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