Insider Acquisition At First Acceptance Corporation (FAC): Director Kenneth Russell Snapped Up 10,000 Shares, At An Average Price Of $ 2.36 per share.

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First Acceptance Corporation (NYSE:FAC)’s Director Kenneth Russell recently purchased 10,000 shares of common stock at the company. The transaction was effected at an average price of $ 2.36 per share, and Mr. Russell currently holds 11,000 shares at the company in a direct form. Over the course of this year, there has been no other insider purchase at the company. Moreover, sales haven’t been register at this company since December, 2011. Last insider sale was pursued by Director and Large Shareholder Jr Marshall Thomas Harrison , who sold 6,999,999, at a price of $ 1.45 per share.

This automobile insurance Company, with a Market Cap of $99.17 million, has attracted different hedge funds. Tom Brown’s Second Curve Capital currently owns more than 2 million shares, worth approximately $5 million, and accounting for 1.17% of the fund’s Equity Portfolio. The fund has increased its stake at the company, over the past quarter, by 48%. Another important fund is Jim Simons’ Renaissance Technologies. It has increased its activity by 65% over the last quarter, and currently holds 176,773 shares, worth $440,000.

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