In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Glassbridge Enterprises Inc. (NYSE:GLA) reported that Clinton Group has picked up 116,408 of common stock as of 2017-03-28.
The acquisition brings the aggregate amount owned by Clinton Group to a total of 116,408 representing a 2.4% stake in the company.
For those not familiar with the company, GlassBridge Enterprises, Inc., formerly Imation Corp., is a holding company. The Company is a data storage and data security company. It operates through Nexsan segment. The Nexsan segment operates as its own product line. Its storage systems portfolio ranges from storage products to unified hybrid storage solutions for small and medium commercial businesses, enterprise and government customers. It consists of Imation Nexsan and Connected Data products. Its Nexsan portfolio features solid-state optimized unified hybrid storage systems, secure automated archive solutions and high-density enterprise storage arrays. Nexsan systems are delivered through a network of cloud service providers, value-added resellers (VARs) and solutions integrators. It offers global customers four main solution sets: the NST hybrid storage line, the Nexsan E-Series disk arrays, the Assureon line and the Transporter line. Its subsidiaries include GlassBridge Asset Management, LLC and Nexsan Corporation..
A glance at Glassbridge Enterprises Inc. (NYSE:GLA)’s key stats reveals a current market capitalization of 23.47 Million based on 4.94 Million shares outstanding and a price at last close of $4.38 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-03-28, De picked up 5,000 at a purchase price of $4.36. This brings their total holding to 262,620 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 Glassbridge Enterprises Inc. (NYSE:GLA) as things move forward to see if its progress aligns with these transactions.
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