In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Texas Pacific Land Trust (NYSE:TPL) reported that Horizon Asset Management has picked up 758,729 of common stock as of 2016-12-08.
The acquisition brings the aggregate amount owned by Horizon Asset Management to a total of 758,729 representing a 9.5% stake in the company.
For those not familiar with the company, Texas Pacific Land Trust (the Trust) is engaged in managing land, including royalty interests, for the benefit of its owners. The Trust operates through managing the land segment, including sales and leases of such land, and the retention of oil and gas royalties. It holds title to tracts of land in various West Texas counties.
A glance at Texas Pacific Land Trust (NYSE:TPL)’s key stats reveals a current market capitalization of $2.43 billion based on 7.95 million shares outstanding and a price at last close of $300.69 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2015-02-03, Norwood picked up 200 at a purchase price of $122.73. This brings their total holding to 1600 as of the date of the filing.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Texas Pacific Land Trust (NYSE:TPL) as things move forward to see if its progress aligns with these transactions.
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