In a new form 4 filed recently with the Securities and Exchange Commission, Phil Frohlich and his fund Prescott Group Capital Management disclosed buying shares of China Marine Food Group Ltd (OTCMKTS:CMFO) again. This time, the fund acquired around 211,500 shares of the company paying a total of $48,900. The shares have been purchased in four transactions, following which Prescott upped its exposure to the company to almost 6.6 million shares.
Mr. Frohlich is steadily increasing his position in the company for some time now. The current position has been boosted from around 4 million shares held by the fund at the end of September. The stock of the company is declining and has already lost over 70% since the beginning of the year. The company has also recently delisted from the NYSEMKT and moved to the OTC Pink Market, as a solution to reduce its operational costs. The move to another market will also help the company to focus more on long-term growth instead of short-term issues related to the market situations.
According to Prescott’s latest 13F, some of the top holdings in its equity portfolio include Air Transport Services Group Inc. (NASDAQ:ATSG), in which the fund holds 5.8 million shares, with a reported value of $43.3 million. It is followed by Nature’s Sunshine Prod. (NASDAQ:NATR), in which Prescott reported a $35.5 million stake. Some smaller positions are Silicon Graphics International Corp (NASDAQ:SGI), Net 1 UEPS Technologies Inc (NASDAQ:UEPS), and Bluephoenix Solutions Ltd (NASDAQ:BPHX).