The LGL Group (NYSE:LGL) Stock Price Up 1.3% – Here’s What Happened

The LGL Group, Inc. (NYSE:LGL)’s share price traded up 1.3% during mid-day trading on Friday . The stock traded as high as $7.26 and last traded at $7.25. 5,337 shares traded hands during trading, a decline of 74% from the average session volume of 20,335 shares. The stock had previously closed at $7.16.

The LGL Group Trading Up 1.3%

The business’s 50-day simple moving average is $6.29 and its two-hundred day simple moving average is $6.39. The company has a market capitalization of $40.10 million, a PE ratio of 42.65 and a beta of 0.33.

Insiders Place Their Bets

In other news, major shareholder Mario J. Gabelli acquired 95,387 shares of The LGL Group stock in a transaction that occurred on Tuesday, December 30th. The shares were purchased at an average cost of $4.75 per share, for a total transaction of $453,088.25. Following the completion of the purchase, the insider directly owned 572,324 shares of the company’s stock, valued at $2,718,539. This trade represents a 20.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 18.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in The LGL Group stock. Osaic Holdings Inc. increased its position in The LGL Group, Inc. (NYSE:LGL) by 15.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,250 shares of the company’s stock after buying 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 reporting period. 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.