Magnetek major shareholder Sells $165,625 in Stock (MAG)
Magnetek (NYSE:MAG) major shareholder Austin W. & Greenhouse Da Marxe unloaded 6,665 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $24.85, for a total transaction of $165,625.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
Magnetek (NYSE:MAG) remained flat at $25.00 during during mid-day trading trading on Monday. 9,048 shares of the company’s stock traded hands. Magnetek has a 1-year low of $10.42 and a 1-year high of $25.75. The stock’s 50-day moving average is $21.9 and its 200-day moving average is $19.13. The company has a market cap of $81.2 million and a price-to-earnings ratio of 21.65.
Magnetek (NYSE:MAG) last released its earnings data on Wednesday, November 6th. The company reported $0.38 EPS for the quarter. The company had revenue of $26.00 million for the quarter, compared to the consensus estimate of $26.86 million. Analysts expect that Magnetek will post $1.31 EPS for the current fiscal year.
Separately, analysts at Sidoti initiated coverage on shares of Magnetek in a research note to investors on Thursday, December 5th. They set a “neutral” rating on the stock.
Magnetek, Inc (NYSE:MAG) is a provider of digital power control systems that are used to control motion and power primarily in material handling, elevator, and energy delivery applications.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.