Insider Buying: Kenneth R. Lehman Purchases 15,125,000 Shares of Four Oaks Fincorp Stock (FOFN)
Four Oaks Fincorp (NASDAQ:FOFN) major shareholder Kenneth R. Lehman bought 15,125,000 shares of Four Oaks Fincorp stock on the open market in a transaction that occurred on Friday, August 15th. The stock was purchased at an average cost of $1.00 per share, with a total value of $15,125,000.00. Following the transaction, the insider now directly owns 16,000,000 shares of the company’s stock, valued at approximately $16,000,000. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Shares of Four Oaks Fincorp (NASDAQ:FOFN) remained flat at $1.40 during during mid-day trading trading on Monday. The stock had a trading volume of 9,340 shares. Four Oaks Fincorp has a one year low of $1.11 and a one year high of $3.00. The stock’s 50-day moving average is $1.27 and its 200-day moving average is $1.82. The company has a market cap of $12.4 million and a price-to-earnings ratio of 3.33.
Four Oaks Fincorp, Inc is a bank holding company. The Company’s primary function is to serve as the holding company for its wholly owned subsidiaries, Four Oaks Bank & Trust Company (NASDAQ:FOFN) and Four Oaks Mortgage Services, LLC.
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