Joel Lusman’s Lusman Capital filed on November 9th for its 7.85% passive stake in Insweb Corp (INSW). According to the 13G filing, Lusman Capital now has 450 thousand shares in INSW. INSW experienced large slumps in the third quarter, but the stock surged by 40% on October 11th when Bankrate, Inc. announced to acquire the Insurance Lead Generation and Marketing assets of InsWeb Corp for $65 million. Now INSW breaks even in 2011, and is priced at $8.25.
Jim Simons’ Renaissance Technologies was also bullish about INSW according to its portfolio in the second quarter. Renaissance Technologies took 62 thousand shares in the stock, slightly down by 1% from Q1.
Lusman Capital is a privately owned investment firm categorized under Financial Advisory Services. The firm is based in New York City, NY.
According to Yahoo! Finance, InsWeb Corporation “operates an online insurance marketplace that electronically matches consumers and providers of automobile, property, health, term life, and small business insurance in the United States and District of Columbia. Its marketplace enables consumers to research insurance-related topics, search for, analyze and compare insurance products, and request quotes for coverage for insurance products. The company was founded in 1995 and is headquartered in Gold River, California.”