In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Cardconnect Corp. (NASDAQ:CCN) reported that Mertz Michael Julian has picked up 1,984,932 of common stock as of 2017-04-10.
The acquisition brings the aggregate amount owned by Mertz Michael Julian to a total of 1,984,932 representing a 6.4% stake in the company.
For those not familiar with the company, CardConnect Corp., formerly FinTech Acquisition Corp., is a provider of payment processing and technology solutions. The Company has developed advanced payment solutions using point-to-point encryption (P2PE) and tokenization. The Company’s small-to-midsize business offering, CardPointe, is a platform that includes a reporting and transaction management portal, which extends to a native mobile application. For enterprise-level organizations, CardSecure integrates omni-channel payment acceptance into several enterprise resource planning (ERP) systems, such as Oracle, SAP, JD Edwards and Infor M3. The Company’s product, CardSecure, accepts both magnetic stripe and chip cards. The device can be plugged to Ethernet/Internet outlet. The Company’s customers use CardPointe to view and manage transactions in real-time on any computer or mobile device. CardSecure P2PE protects the network and connected device from being compromised by malicious malware.
A glance at Cardconnect Corp. (NASDAQ:CCN)’s key stats reveals a current market capitalization of 412.29 Million based on 29.14 Million shares outstanding and a price at last close of $14.15 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-09-30, Shanahan picked up 100 at a purchase price of $9.97. This brings their total holding to 100 as of the date of the filing.
On the sell side, the most recent transaction saw Cohen unload 187,119 shares at a sale price of $0.01. This brings their total holding to 700,469.
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 Cardconnect Corp. (NASDAQ:CCN) as things move forward to see if its progress aligns with these transactions.
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