Somewhat Positive Press Coverage Somewhat Unlikely to Impact The Herzfeld Caribbean Basin Fund (CUBA) Stock Price
Media headlines about The Herzfeld Caribbean Basin Fund (NASDAQ:CUBA) have trended somewhat positive this week, Accern reports. Accern rates the sentiment of news coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. The Herzfeld Caribbean Basin Fund earned a news impact score of 0.17 on Accern’s scale. Accern also assigned news articles about the investment management company an impact score of 45.9540497687137 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
Separately, Ladenburg Thalmann Financial Services restated a “buy” rating and issued a $9.75 target price (up from $9.25) on shares of The Herzfeld Caribbean Basin Fund in a research report on Friday, May 19th.
Shares of The Herzfeld Caribbean Basin Fund (NASDAQ CUBA) opened at 7.30 on Thursday. The Herzfeld Caribbean Basin Fund has a 52-week low of $6.02 and a 52-week high of $7.47. The firm has a 50-day moving average price of $7.30 and a 200-day moving average price of $7.04.
In related news, Director Thomas J. Herzfeld acquired 3,670 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The shares were acquired at an average cost of $7.12 per share, for a total transaction of $26,130.40. Following the completion of the acquisition, the director now directly owns 347,809 shares in the company, valued at approximately $2,476,400.08. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders have purchased 7,069 shares of company stock worth $49,881. 5.49% of the stock is currently owned by company insiders.
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About The Herzfeld Caribbean Basin Fund
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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