Martin Midstream Partners L.P. (NASDAQ:MMLP), saw a top tier insider make a major move altering his position in the company greatly through a transaction that began earlier this week and was officially filed today, September 12th. President and Chief Executive Officer Ruben S. Martin acquired 5,000 shares of common stock at an average price of $37.1 per share. Following this transaction, Martin now holds a total of 6,264,532 shares indirectly, while having 76,484 shares directly invested in the company. This is not his first move of this type either, as he picked up over 1 million shares just last month.
In addition, Martin Midstream Partners L.P. (NASDAQ:MMLP) is a $1.21 billion market cap limited partnership with a diverse set of operations focused in the United States Gulf Coast region. Moreover, there is one major hedge fund with substantial holdings in the company. Billionaire Jim Simons‘ Renaissance Technologies fund reported a 48% increase in its activity last quarter, and following this move, the fund now holds 143,543 shares worth approximately $5.9 million.
Disclosure: The author, Daniel Forstein, holds no positions in any stocks mentioned.