The LGL Group (NYSE:LGL) Trading Down 0.7% – Here’s Why

The LGL Group, Inc. (NYSE:LGL) traded down 0.7% on Tuesday . The company traded as low as $7.17 and last traded at $7.17. 6,348 shares were traded 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 1.1%

The company has a market capitalization of $39.56 million, a price-to-earnings ratio of 42.07 and a beta of 0.31. The company’s 50 day simple moving average is $6.82 and its 200-day simple moving average is $6.43.

Insider Transactions at The LGL Group

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

Institutional Trading of The LGL Group

An institutional investor recently raised its position in The LGL Group stock. Osaic Holdings Inc. raised its stake in The LGL Group, Inc. (NYSE:LGL) by 15.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,250 shares of the company’s stock after purchasing an additional 2,710 shares during the quarter. Osaic Holdings Inc. owned about 0.38% of The LGL Group worth $154,000 at the end of the most recent quarter. 30.28% of the stock is owned by hedge funds and other 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.