The LGL Group (NYSE:LGL) Shares Down 0.7% – Should You Sell?

Shares of The LGL Group, Inc. (NYSE:LGL) traded down 0.7% during trading on Tuesday . The company traded as low as $7.17 and last traded at $7.17. 6,348 shares changed hands during mid-day trading, a decline of 58% from the average session volume of 15,173 shares. The stock had previously closed at $7.22.

The LGL Group Trading Down 0.7%

The company has a fifty day moving average price of $6.79 and a two-hundred day moving average price of $6.42. The firm has a market capitalization of $39.66 million, a price-to-earnings ratio of 42.18 and a beta of 0.31.

Insiders Place Their Bets

In related news, major shareholder Mario J. Gabelli acquired 95,387 shares of the stock in a transaction on Tuesday, December 30th. The shares were bought at an average price of $4.75 per share, with a total value of $453,088.25. Following the completion of the purchase, the insider owned 572,324 shares of the company’s stock, valued at approximately $2,718,539. This represents a 20.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 18.90% of the company’s stock.

Institutional Trading of The LGL Group

A hedge fund recently raised its stake in The LGL Group stock. Osaic Holdings Inc. increased its position in shares of The LGL Group, Inc. (NYSE:LGL) by 15.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,250 shares of the company’s stock after acquiring an additional 2,710 shares during the quarter. Osaic Holdings Inc. owned approximately 0.38% of The LGL Group worth $154,000 as of its most recent filing with the Securities and Exchange Commission. 30.28% of the stock is currently 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.