Insider Selling: Peter M. Mccormick Sells 5,000 Shares of Magnetek Stock (MAG)
Magnetek (NYSE:MAG) CEO Peter M. Mccormick sold 5,000 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $21.60, for a total transaction of $108,000.00. Following the transaction, the chief executive officer now directly owns 40,144 shares of the company’s stock, valued at approximately $867,110. The transaction was disclosed in a filing with the SEC, which is available at this link.
Shares of Magnetek (NYSE:MAG) traded up 0.32% on Wednesday, hitting $22.25. 2,527 shares of the company’s stock traded hands. Magnetek has a 52 week low of $16.00 and a 52 week high of $25.75. The stock has a 50-day moving average of $21.57 and a 200-day moving average of $22.11. The company has a market cap of $72.6 million and a price-to-earnings ratio of 19.98.
Magnetek (NYSE:MAG) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.36 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.32 by $0.04. The company had revenue of $24.11 million for the quarter, compared to the consensus estimate of $25.06 million. On average, analysts predict that Magnetek will post $1.39 earnings per share for the current fiscal year.
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.
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