In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Homefed Corp (OTCMKTS:HOFD) reported that Leucadia National has picked up 10,838,115 of common stock as of 2017-03-31.
The acquisition brings the aggregate amount owned by Leucadia National to a total of 10,838,115 representing a 70.2% stake in the company.
For those not familiar with the company, HomeFed Corporation is a developer and owner of residential and mixed-use real estate projects in California, Virginia, South Carolina, Florida, Maine and New York. The Company operates through three segments: real estate, farming and corporate. Its real estate operations consist of a range of residential and commercial land development projects and other unimproved land, all in various stages of development, and retail and office operating properties. Real estate also includes the equity method investments in Brooklyn Renaissance Holding Company LLC (BRP Holding) and Brooklyn Renaissance Hotel LLC (BRP Hotel). Its farming operations consist of the Rampage property, which includes an operating grape vineyard. The Company, as the owner of development projects, is engaged in a range of activities, including design engineering, grading raw land, constructing public infrastructure and finishing individual lots for home sites or other facilities.
A glance at Homefed Corp (OTCMKTS:HOFD)’s key stats reveals a current market capitalization of 688.10 Million based on 15.45 Million shares outstanding and a price at last close of $45.00 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-03-23, Leucadia picked up 783,889 at a purchase price of $39.95. This brings their total holding to 10,838,115 as of the date of the filing.
On the sell side, the most recent transaction saw Cumming unload 65,704 shares at a sale price of $39.95. This brings their total holding to 0.
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 Homefed Corp (OTCMKTS:HOFD) as things move forward to see if its progress aligns with these transactions.
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