Herzfeld Thomas J
revealed that they own a 12.4% stake in Herzfeld Caribbean Basin Fund, Inc (NASDAQ:CUBA) in a Form 13D/A disclosure that was filed with the Securities and Exchange Commission (SEC) on Monday, March 20th. The investor owns 763,194 shares of the stock valued at about $5,311,830. The disclosure is available through Edgar at this hyperlink.
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Shares of Herzfeld Caribbean Basin Fund, Inc (NASDAQ:CUBA) traded down 0.57% on Monday, hitting $6.96. The stock had a trading volume of 11,662 shares. The firm’s 50-day moving average is $6.82 and its 200-day moving average is $6.53. Herzfeld Caribbean Basin Fund, Inc has a one year low of $5.80 and a one year high of $8.49.
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Separately, Ladenburg Thalmann Financial Services reaffirmed a “buy” rating and set a $9.25 target price (up from $8.00) on shares of Herzfeld Caribbean Basin Fund in a research note on Thursday, December 15th.
In other news, Director Thomas J. Herzfeld bought 7,726 shares of the firm’s stock in a transaction on Tuesday, January 17th. The shares were bought at an average cost of $6.48 per share, for a total transaction of $50,064.48. Following the completion of the transaction, the director now owns 332,783 shares in the company, valued at $2,156,433.84. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Erik Mervin Herzfeld bought 8,255 shares of the firm’s stock in a transaction on Wednesday, January 18th. The shares were purchased at an average price of $6.49 per share, for a total transaction of $53,574.95. Following the completion of the transaction, the president now owns 91,180 shares of the company’s stock, valued at approximately $591,758.20. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 16,651 shares of company stock worth $108,196. 5.49% of the stock is owned by company insiders.
Herzfeld Caribbean Basin Fund Company Profile
The Herzfeld Caribbean Basin Fund, Inc (the Fund) is a non-diversified, closed-end management investment company. The Fund’s investment objective is to obtain long-term capital appreciation. The Fund pursues its objective by investing primarily in equity and equity-linked securities of public and private companies, including the United States-based companies, whose securities are traded principally on a stock exchange in a Caribbean Basin Country or that have at least 50% of the value of their assets in a Caribbean Basin Country or that derive at least 50% of their total revenue from operations in a Caribbean Basin Country (collectively, Caribbean Basin Companies).
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