Arthur B. Laffer Buys 7,395 Shares of VerifyMe, Inc. (NASDAQ:VRME) Stock

VerifyMe, Inc. (NASDAQ:VRME) Director Arthur B. Laffer purchased 7,395 shares of the business’s stock in a transaction on Monday, March 25th. The shares were acquired at an average cost of $1.36 per share, for a total transaction of $10,057.20. Following the completion of the transaction, the director now directly owns 279,911 shares in the company, valued at $380,678.96. The purchase was disclosed in a filing with the SEC, which is available through this link.

VerifyMe Trading Up 2.1 %

Shares of NASDAQ:VRME opened at $1.44 on Thursday. VerifyMe, Inc. has a 52-week low of $0.85 and a 52-week high of $2.27. The company has a market capitalization of $14.39 million, a P/E ratio of -4.11 and a beta of 1.05. The company has a 50-day simple moving average of $1.19 and a 200 day simple moving average of $1.14. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.53 and a current ratio of 1.55.

Analysts Set New Price Targets

Separately, Barrington Research reiterated an “outperform” rating and issued a $1.70 target price on shares of VerifyMe in a research note on Friday, March 22nd.

Institutional Investors Weigh In On VerifyMe

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in VerifyMe by 14.6% during the fourth quarter. Vanguard Group Inc. now owns 217,986 shares of the company’s stock worth $244,000 after acquiring an additional 27,792 shares during the last quarter. Renaissance Technologies LLC increased its stake in VerifyMe by 52.4% in the second quarter. Renaissance Technologies LLC now owns 46,200 shares of the company’s stock valued at $64,000 after acquiring an additional 15,892 shares during the last quarter. LPL Financial LLC bought a new stake in shares of VerifyMe during the second quarter worth $67,000. MML Investors Services LLC acquired a new position in shares of VerifyMe during the first quarter worth $383,000. Finally, HighTower Advisors LLC lifted its holdings in shares of VerifyMe by 492.0% during the first quarter. HighTower Advisors LLC now owns 89,095 shares of the company’s stock worth $171,000 after purchasing an additional 74,046 shares during the period. 8.79% of the stock is currently owned by institutional investors and hedge funds.

About VerifyMe

VerifyMe, Inc, together with its subsidiary, PeriShip Global, LLC, operates as a technology solutions provider that specializes in products to connect brands with consumers and providing brands with end-to-end logistics management for their products. The company operates through two segments, VerifyMe Solutions and PeriShip Global Solutions.