The MNF Group Ltd (ASX: MNF) share price closed up 3% to $4.22 today, but is still down around 35% over the course of the past year.
The stock climbed today on a relatively large volume of $3.8 million worth of shares changing hands compared to a daily average of probably not much more than $100,000 over December.
In fact today was the stock's largest day by volume since the software and voice over internet group reported its full year profit result on August 28 2018.
Today two seperate block trades went through at $4.10 per share for $2.8 million and $938,000 suggesting that an institutional investor is buying into the stock. Generally, when a small-cap business receives significant institutional buying it can be a bullish signal that a professional investor believes it's good value.
Today MNF Group also revealed it has enabled cloud connect calling for enterprise customers using the Microsoft Teams call collaboration product that is not dissimilar to Skype for example.
MNF is due to hand in its interim profit report on February 28 2019.
