Insider Buying: Michael L. Falcone Acquires 10,530 Shares of Municipal Mortgage & Equity Stock (MMAB)
Municipal Mortgage & Equity (NASDAQ:MMAB) CEO Michael L. Falcone purchased 10,530 shares of Municipal Mortgage & Equity stock on the open market in a transaction dated Monday, June 30th. The stock was purchased at an average price of $1.89 per share, for a total transaction of $19,901.70. Following the purchase, the chief executive officer now directly owns 523,141 shares in the company, valued at approximately $988,736. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Municipal Mortgage & Equity (NASDAQ:MMAB) opened at 1.86 on Tuesday. Municipal Mortgage & Equity has a 52 week low of $1.05 and a 52 week high of $1.95. The stock has a 50-day moving average of $1.86 and a 200-day moving average of $1.5. The company has a market cap of $73.0 million and a P/E ratio of 0.78.
Municipal Mortgage & Equity, LLC (NASDAQ:MMAB) is engaged in the management of its bond portfolio, which consists primarily of tax-exempt bonds issued by state and local government authorities to finance multifamily rental housing developments (including affordable housing, student housing and senior living facilities) and community development districts.
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