10% Owner Hakala purchases 101,500 shares across 3 transactions totaling $7,700,000.00 at blended average $75.86; stock now trades at $0.81.
Hakala Gerald W, a 10% owner of Conifer Holdings, executed 3 separate purchases totaling 101,500 shares for $7,700,000.00 between December 2024 and March 2025, with transaction prices ranging from $2.00 to $5,000.00 per share and a blended average price of $75.86. The current stock price of $0.81 is dramatically below the blended average purchase price, representing a massive unrealized loss on the aggregate position. Hakala's cross-ticker track record shows 1 prior buy with an average 90-day return of -100.0%, and his single prior purchase at CNFR (2023-12-20) also posted a 90-day return of -100.0%, meaning the prior buy was entirely underwater by the 90-day mark. The company's fundamentals show revenue contraction of -31.9% year-over-year with a P/E of 0.33 and market cap of $9,900,533.61, indicating significant operational and valuation stress. This filing merits scrutiny for the extreme disparity between historical purchase prices and current market levels, combined with the insider's poor historical timing across both this ticker and other securities.