Board Member at Leader in Recovery Audit and Analytics Services Boosts Holding
One member of PRGX Global Inc. (NASDAQ:PRGX)’s Board of Directors bought a relatively sizable block of shares last week. Board member Joseph E. Whitters snatched up 12,500 shares on Tuesday at prices ranging from $5.40 to $5.50 per share. Following the recent purchase, Mr. Whitters currently holds an ownership stake of 108,153 shares.
The aforementioned Board member is not the only one who believes the shares of the leader in recovery audit and spend analytics services are undervalued. Just recently, Northern Right Capital Management L.P. filed a Form 13D with the SEC revealing a 5.9%-stake in PRGX Global Inc. (NASDAQ:PRGX). The filing also specified that the stake was purchased on the belief that the shares represented an attractive investment opportunity when purchased. More importantly, Northern Right Capital Management’s founder, Matthew A. Drapkin, was recently appointed to the company’s Board of Directors – a move that could assist the company going forward, especially considering that Northern Right is very supportive of PRGX’s current CEO. The shares of PRGX Global have gained 47% year-to-date. David Park’s Headlands Capital added a 2.77 million-share stake in PRGX Global Inc. (NASDAQ:PRGX) to its portfolio during the third quarter.
Board Member of Investor in Renewable Energy Buys Shares
A member of MMA Capital Management LLC (NASDAQ:MMAC)’s Board also purchased some shares during the trading week that was shortened by the Thanksgiving holiday. Board member Lisa Marie Roberts, who served as the Chief Financial Officer of MMA Capital from late-August 2011 to mid-July 2015, purchased 2,000 shares on Tuesday for $17.81 each, lifting her ownership to 9,125 shares.
MMA Capital Management LLC (NASDAQ:MMAC), which partners with institutional capital to create and manage investments in affordable housing and renewable energy, recently agreed to terms with a leading special situations investment platform to create a solar lending joint venture called Renewable Energy Lending LLC. The newly-created joint venture is set to provide financing for the construction and ongoing operations of solar power projects across North America. The shares of MMA Capital Management are 24% in the green this year. Jim Simons’ Renaissance Technologies was the owner of around 19,000 shares of MMA Capital Management LLC (NASDAQ:MMAC) at the end of the September quarter.
The final page of this article will discuss the fresh insider selling observed at two other companies.