Magnetek major shareholder Sells $66,899 in Stock (MAG)
Magnetek (NYSE:MAG) major shareholder Austin W. & Greenhouse Da Marxe sold 2,703 shares of the stock on the open market in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $24.75, for a total value of $66,899.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Shares of Magnetek (NYSE:MAG) traded up 0.28% on Wednesday, hitting $24.85. The stock had a trading volume of 2,747 shares. Magnetek has a one year low of $10.42 and a one year high of $25.75. The stock’s 50-day moving average is $22.28 and its 200-day moving average is $19.25. The company has a market cap of $80.7 million and a price-to-earnings ratio of 21.45.
Magnetek (NYSE:MAG) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.38 earnings per share (EPS) for the quarter. The company had revenue of $26.00 million for the quarter, compared to the consensus estimate of $26.86 million. On average, analysts predict that Magnetek will post $1.14 earnings per share 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.