The LGL Group (NYSE:LGL) Major Shareholder Mario Gabelli Purchases 95,387 Shares

The LGL Group, Inc. (NYSE:LGL) major shareholder Mario Gabelli acquired 95,387 shares of the stock in a transaction that occurred on Tuesday, December 30th. The shares were acquired at an average cost of $4.75 per share, with a total value of $453,088.25. Following the transaction, the insider owned 572,324 shares in the company, valued at approximately $2,718,539. The trade was a 20.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Large 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 Price Performance

LGL opened at $5.71 on Wednesday. The LGL Group, Inc. has a fifty-two week low of $5.45 and a fifty-two week high of $9.74. The company has a market capitalization of $31.58 million, a PE ratio of 33.59 and a beta of 0.42. The business has a 50-day moving average of $5.95 and a 200-day moving average of $6.56.

Institutional Trading of The LGL Group

An institutional investor recently bought a new position in The LGL Group stock. Citadel Advisors LLC bought a new stake in shares of The LGL Group, Inc. (NYSE:LGL) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 13,515 shares of the company’s stock, valued at approximately $90,000. Citadel Advisors LLC owned about 0.25% of The LGL Group as of its most recent filing with the Securities and Exchange Commission. 30.28% of the stock is currently owned by institutional investors.

The LGL Group Company Profile

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.