FORM Holdings Corp. (NASDAQ:FH) dropped 8.7% during mid-day trading on Monday following insider selling activity. The company traded as low as $1.34 and last traded at $1.37. Approximately 1,789,500 shares were traded during mid-day trading, an increase of 912% from the average daily volume of 176,855 shares. The stock had previously closed at $1.50.
Specifically, major shareholder Awm Investment Company, Inc. sold 110,000 shares of the firm’s stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $1.52, for a total transaction of $167,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 373,350 shares of company stock valued at $562,225 over the last 90 days. 26.40% of the stock is owned by corporate insiders.
Separately, Zacks Investment Research downgraded FORM from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th.
The company has a market capitalization of $36.37, a price-to-earnings ratio of -1.20 and a beta of -0.42. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.68 and a quick ratio of 1.30.
FORM (NASDAQ:FH) last announced its quarterly earnings data on Thursday, November 9th. The company reported ($0.19) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.08). FORM had a negative net margin of 43.21% and a negative return on equity of 34.86%. The firm had revenue of $17.73 million during the quarter, compared to analyst estimates of $18.68 million. research analysts predict that FORM Holdings Corp. will post -0.96 earnings per share for the current fiscal year.
A number of institutional investors have recently made changes to their positions in FH. Alyeska Investment Group L.P. acquired a new stake in FORM in the third quarter valued at approximately $1,360,000. Pacific Grove Capital LP acquired a new stake in FORM in the third quarter valued at approximately $616,000. Finally, Manatuck Hill Partners LLC grew its stake in FORM by 25.0% in the second quarter. Manatuck Hill Partners LLC now owns 125,000 shares of the company’s stock valued at $206,000 after acquiring an additional 25,000 shares during the period. 22.55% of the stock is owned by hedge funds and other institutional investors.
FORM Company Profile
FORM Holdings Corp., together with its subsidiaries, develops, acquires, and monetizes intellectual property worldwide. It operates through four segments: XpresSpa, Group Mobile, FLI Charge, and Intellectual Property. The company offers spa services and related products that include massage services for the neck, back, feet, and whole body; nail care, such as pedicures, manicures, and polish changes; and travel products comprising neck pillows, blankets, massage tools, and eye masks.