Foresight Energy LP (NYSE:FELP), saw a high level insider greatly increase his holdings with the company though a trade that was initiated a month ago and officially filed today. Director and Large Shareholder Christopher Cline acquired 125,000 shares of common stock in the company at an average price of $20 per shares. Following this transaction, Cline now directly holds 47,048,812 shares in the corporation.
Foresight Energy LP (NYSE:FELP), is a $2.47 billion market cap company that operates as an underground coal producer in the United States. The Company operates four underground mining complexes, all in the Illinois Basin region of the United States.
While there are no hedge funds with involvement in the company at the moment, there have been other insider transactions within recent months. Since June of this year, three different insiders have made trades that have altered their holdings in teh company by over 50,000 shares combined.
Disclosure: The author, Daniel Forstein, holds no positions in any stocks mentioned.