The LGL Group (NYSE:LGL) Shares Up 3.6% – What’s Next?

The LGL Group, Inc. (NYSE:LGL) was up 3.6% on Thursday . The company traded as high as $7.16 and last traded at $6.99. Approximately 134,998 shares changed hands during mid-day trading, an increase of 307% from the average daily volume of 33,135 shares. The stock had previously closed at $6.75.

The LGL Group Stock Up 0.9%

The stock has a 50-day moving average of $5.97 and a 200 day moving average of $6.45. The company has a market capitalization of $38.99 million, a PE ratio of 41.47 and a beta of 0.36.

Insider Activity

In related news, major shareholder Mario J. Gabelli purchased 95,387 shares of the business’s stock in a transaction that occurred on Tuesday, December 30th. The shares were bought at an average cost of $4.75 per share, with a total value of $453,088.25. Following the acquisition, the insider owned 572,324 shares of the company’s stock, valued at $2,718,539. This represents a 20.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 18.90% of the stock is currently owned by corporate insiders.

Institutional Trading of The LGL Group

A hedge fund recently bought a new stake in The LGL Group stock. Citadel Advisors LLC purchased a new position in shares of The LGL Group, Inc. (NYSE:LGL) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 13,515 shares of the company’s stock, valued at approximately $90,000. Citadel Advisors LLC owned 0.25% of The LGL Group as of its most recent filing with the SEC. Institutional investors own 30.28% of the company’s stock.

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.