In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Imation Corp (NYSE:IMN) reported that Private Capital Management has picked up 2,028,829 of common stock as of 2017-02-10.
The acquisition brings the aggregate amount owned by Private Capital Management to a total of 2,028,829 representing a 5.47% stake in the company.
For those not familiar with the company, Imation Corp. is a data storage and data security company. The Company operates in two business segments: Tiered Storage and Security Solutions (TSS), which consists of its commercial storage media and storage and security solutions (i.e. Nexsan and IronKey) businesses, and Consumer Storage and Accessories (CSA), which consists of its consumer storage media and audio and accessories businesses. Its Nexsan segment consists of storage systems portfolio, which ranges from dense storage products to unified storage solutions for small and medium commercial businesses, enterprise and government customers. Its IronKey segment line include the hardware encrypted universal serial bus (USB) drives, personal computer (PC) on a stick workspaces for Microsoft windows to go, and cloud-based or device management solutions. Its Storage Media and Accessories business segment distributes various products through retail and commercial channels across the world.
A glance at Imation Corp (NYSE:IMN)’s key stats reveals a current market capitalization of 37.28 million based on 49.74 million shares outstanding and a price at last close of $.760 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2015-07-28, De picked up 35,000 at a purchase price of $0.99. This brings their total holding to 252,620 as of the date of the filing.
On the sell side, the most recent transaction saw Clinton unload 36,100 shares at a sale price of $1.31. This brings their total holding to 1,704,901.
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 Imation Corp (NYSE:IMN) as things move forward to see if its progress aligns with these transactions.
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