Herzfeld Caribbean Basin Fund, Inc (NASDAQ:CUBA)‘s stock had its “buy” rating reissued by Ladenburg Thalmann Financial Services in a report released on Friday. They currently have a $9.75 price objective on the investment management company’s stock, up from their prior price objective of $9.25. Ladenburg Thalmann Financial Services’ price target indicates a potential upside of 39.48% from the stock’s current price.
Shares of Herzfeld Caribbean Basin Fund (NASDAQ:CUBA) traded up 0.29% during mid-day trading on Friday, reaching $7.01. The company had a trading volume of 5,010 shares. Herzfeld Caribbean Basin Fund has a 12-month low of $5.80 and a 12-month high of $7.47. The firm’s 50 day moving average is $7.03 and its 200-day moving average is $6.76.
In related news, Director Thomas J. Herzfeld purchased 3,670 shares of Herzfeld Caribbean Basin Fund stock in a transaction that occurred on Wednesday, May 17th. The shares were acquired at an average price of $7.12 per share, with a total value of $26,130.40. Following the completion of the transaction, the director now directly owns 347,809 shares of the company’s stock, valued at approximately $2,476,400.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Erik Mervin Herzfeld purchased 15,000 shares of Herzfeld Caribbean Basin Fund stock in a transaction that occurred on Thursday, April 6th. The shares were bought at an average cost of $6.92 per share, for a total transaction of $103,800.00. Following the transaction, the president now directly owns 114,435 shares of the company’s stock, valued at $791,890.20. The disclosure for this purchase can be found here. Insiders have purchased 22,283 shares of company stock worth $154,881 in the last three months. 5.49% of the stock is currently owned by company insiders.
Herzfeld Caribbean Basin Fund Company Profile
The Herzfeld Caribbean Basin Fund, Inc (the Fund) is a non-diversified, closed-end management investment company. The Fund’s investment objective is to obtain long-term capital appreciation. The Fund pursues its objective by investing primarily in equity and equity-linked securities of public and private companies, including the United States-based companies, whose securities are traded principally on a stock exchange in a Caribbean Basin Country or that have at least 50% of the value of their assets in a Caribbean Basin Country or that derive at least 50% of their total revenue from operations in a Caribbean Basin Country (collectively, Caribbean Basin Companies).
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