Herzfeld Erik Mervin
recently disclosed that they own 8.7% of 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 531,246 shares of the stock valued at approximately $3,697,472. The disclosure is available through the SEC website at this link.
Shares of Herzfeld Caribbean Basin Fund, Inc (NASDAQ:CUBA) traded down 0.57% during trading on Monday, reaching $6.96. 11,662 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $6.82 and a 200 day moving average price of $6.53. Herzfeld Caribbean Basin Fund, Inc has a 12-month low of $5.80 and a 12-month high of $8.49.
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Separately, Ladenburg Thalmann Financial Services reiterated a “buy” rating and issued a $9.25 target price (up from $8.00) on shares of Herzfeld Caribbean Basin Fund in a report on Thursday, December 15th.
In other Herzfeld Caribbean Basin Fund news, Director Thomas J. Herzfeld purchased 7,726 shares of the stock in a transaction dated Tuesday, January 17th. The stock was acquired at an average cost of $6.48 per share, for a total transaction of $50,064.48. Following the acquisition, the director now owns 332,783 shares in the company, valued at approximately $2,156,433.84. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, President Erik Mervin Herzfeld purchased 8,255 shares of the stock in a transaction dated Wednesday, January 18th. The shares were acquired at an average price of $6.49 per share, with a total value of $53,574.95. Following the completion of the acquisition, the president now owns 91,180 shares in the company, valued at approximately $591,758.20. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 16,651 shares of company stock valued at $108,196. Company insiders own 5.49% of the company’s stock.
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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