Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Phil Frohlich’s Prescott Group Is Buying More China Marine Food Stock

Phil FrohlichPrescott Group: The stake of China Marine Food Group Ltd (NYSEMKT:CMFO) recently went up in the equity portfolio of Prescott Group Capital Management, a hedge fund run by Phil Frohlich. In a Form 4 with the SEC, Prescott reported buying 799,400 shares of the company, at a price of $0.36 apiece. The total position held by Frohlich and Prescott currently involves almost 4.8 million shares. At the current price of China Marine Food Group’s stock, Prescott’s position has a value of around $1.9 million. Prescott Capital owns the shares of China Marine Food Group indirectly via the account of its Master Fund, of which Prescott is the Investment Manager, the filing said.

China Marine Food Group

China Marine Food Group is specialized in processed sea-based food snacks, as well as fresh and frozen marine catch. The company reported net sales down 55.5% on the year, worth $27.3 million in the second quarter of the year. The net loss of the company almost doubled and amounted $3.1 million, from $1.6 million posted for the same period of last year. In the first half of the year, the net loss of China Marine Food Group totaled $2.5 million, up from $3.7 million posted for the first six months of last year.

Jim Simons’ Renaissance Technologies is also bullish on a rebound, and it owns $156,000 worth of the stock.

Disclosure: none

Recommended Reading:

Coliseum Capital Keeps Buying Accuride Stock

Kevin Kotler’s Broadfin Capital Joins HealthCor in Idera

Warren Buffett Strategy: How to Get ‘Buffett Yield’

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.