Stock News Update: Asta Funding (NASDAQ:ASFI)

Asta Funding (NASDAQ:ASFI) stock observed trading -2.06% off 52-week high price. On the other end, the stock has been noted 101.23% away from low price over the last 52-weeks. The stock disclosed a move of 0.64% away from 50 day moving average and 16.88% away from 200 day moving average. Moving closer, we can see that shares have been trading 0.23% off 20-day moving average. It has market cap of $86.20M.

On Sept. 25, 2020, Asta Funding (NASDAQ:ASFI) reported that at a virtual special meeting of stockholders held earlier , the Company’s stockholders voted to adopt the merger agreement pursuant to which the Company would become a wholly-owned subsidiary of Asta Finance Acquisition Inc. (the Merger). The transaction was previously announced on April 8, 2020.

Approximately six million shares voted at the special meeting were voted in favor of the proposal to adopt the merger agreement, representing over 91% of the outstanding shares of Asta’s common stock entitled to vote at the special meeting. Such approval also represented the approval of the Merger by an affirmative vote of the majority of the minority stockholders, which includes stockholders other than Gary Stern and members of the Stern Group. The Company will file the final vote results with the Securities and Exchange Commission (the SEC) on a Form 8-K.

Under the terms of the merger agreement, Asta Funding Inc.’s stockholders will be entitled to receive $13.10 per share in cash upon completion of the merger, which remains subject to the satisfaction of customary closing conditions.

The USA based company Asta Funding moved with change of 0.15% to $13.1 with the total traded volume of 32776 shares in recent session versus to an average volume of 11.65K. The stock was observed in the 5 days activity at 0.31%. The one month performance of stock was 0.58%. ASFI’s shares are at 16.84% for the quarter and driving a 87.41% return over the course of the past year and is now at 26.82% since this point in 2018.  Right now the stock beta is 0.6. The average volatility for the week and month was at 0.12% and 0.16% respectively. There are 6.57M shares outstanding and 1.92M shares are floated in market.

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