Sacks Parente Golf Stock to Reverse Split on Monday, March 17th (NASDAQ:SPGC)

Sacks Parente Golf, Inc. (NASDAQ:SPGC)’s stock is scheduled to reverse split on Monday, March 17th. The 1-30 reverse split was announced on Tuesday, March 11th. The number of shares owned by shareholders will be adjusted after the market closes on Friday, March 14th.

Sacks Parente Golf Trading Up 0.9 %

SPGC stock opened at $0.11 on Thursday. The firm has a market cap of $197,208.00, a PE ratio of -0.03 and a beta of 4.59. Sacks Parente Golf has a 1 year low of $0.09 and a 1 year high of $6.69. The company has a fifty day simple moving average of $0.45 and a 200 day simple moving average of $1.47.

Sacks Parente Golf declared that its board has initiated a stock repurchase program on Monday, February 3rd that authorizes the company to buyback $1.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 85.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Institutional Trading of Sacks Parente Golf

An institutional investor recently bought a new position in Sacks Parente Golf stock. Renaissance Technologies LLC purchased a new stake in Sacks Parente Golf, Inc. (NASDAQ:SPGC) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 172,300 shares of the company’s stock, valued at approximately $72,000. Renaissance Technologies LLC owned approximately 9.44% of Sacks Parente Golf as of its most recent SEC filing. 0.49% of the stock is owned by institutional investors.

About Sacks Parente Golf

Sacks Parente Golf, Inc, a technology-forward golf company, manufactures and sells golf products. The company provides putting instruments, golf shafts, golf grips, and other golf-related products. It also offers online custom fitting programs. The company sells its products through e-commerce, distributors, wholesale customers, including pro-shops at golf courses and off-course retailers, sporting goods retailers, online retailers, third-party distributors, and through Club Champion Golf, as well as through mass merchants and corporate customers in the Americas, Asia, and Europe.