Mario Gabelli Acquires 95,387 Shares of The LGL Group (NYSE:LGL) Stock

The LGL Group, Inc. (NYSE:LGL) major shareholder Mario Gabelli bought 95,387 shares of the firm’s stock in a transaction that occurred on Tuesday, December 30th. The stock was purchased at an average cost of $4.75 per share, with a total value of $453,088.25. Following the completion of the transaction, the insider directly owned 572,324 shares in the company, valued at $2,718,539. This represents a 20.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

The LGL Group Stock Performance

Shares of NYSE:LGL opened at $5.75 on Friday. The LGL Group, Inc. has a 52-week low of $5.45 and a 52-week high of $9.74. The business’s 50 day simple moving average is $5.93 and its two-hundred day simple moving average is $6.55. The firm has a market cap of $31.80 million, a P/E ratio of 33.82 and a beta of 0.42.

Institutional Trading of The LGL Group

A hedge fund recently bought a new stake in The LGL Group stock. Citadel Advisors LLC acquired a new stake in The LGL Group, Inc. (NYSE:LGL) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 13,515 shares of the company’s stock, valued at approximately $90,000. Citadel Advisors LLC owned approximately 0.25% of The LGL Group at the end of the most recent quarter. 30.28% of the stock is owned by institutional investors.

About The LGL Group

The LGL Group, Incorporated is a diversified holding company that delivers specialized engineering and materials solutions primarily for defense, aerospace and industrial markets. Through its subsidiaries, the company provides design, integration and life-cycle support for communications, navigation and electronic warfare systems. Leveraging a team of experienced engineers and technicians, LGL offers turnkey capabilities that span from prototype development and system installation to ongoing maintenance and field upgrades.

One of the company’s core businesses focuses on defense electronics, where it supports U.S.