IGI Laboratories major shareholder Sells $18,600,000 in Stock (IG)
IGI Laboratories (NYSE:IG) major shareholder Sciences Opportunities Fu Life sold 3,000,000 shares of the stock on the open market in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $6.20, for a total value of $18,600,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
A number of research firms have recently commented on IG. Analysts at Oppenheimer initiated coverage on shares of IGI Laboratories in a research note on Thursday. They set an “outperform” rating and a $8.00 price target on the stock. Analysts at Zacks downgraded shares of IGI Laboratories from a “neutral” rating to an “underperform” rating in a research note on Monday, July 28th. They now have a $5.00 price target on the stock.
IGI Laboratories (NYSE:IG) traded up 1.47% during mid-day trading on Friday, hitting $6.89. The stock had a trading volume of 1,331,418 shares. IGI Laboratories has a 52 week low of $1.80 and a 52 week high of $6.91. The stock has a 50-day moving average of $5.7 and a 200-day moving average of $5.14. The company’s market cap is $361.6 million. IGI Laboratories also was the target of a large increase in short interest in August. As of August 15th, there was short interest totalling 1,880,437 shares, an increase of 21.3% from the July 31st total of 1,550,473 shares. Based on an average trading volume of 766,385 shares, the short-interest ratio is currently 2.5 days. Approximately 7.0% of the company’s stock are sold short.
IGI Laboratories (NYSE:IG) last released its earnings data on Thursday, July 24th. The company reported ($0.01) EPS for the quarter. Analysts expect that IGI Laboratories will post $0.01 EPS for the current fiscal year.
IGI Laboratories, Inc (NYSE:IG) develops, manufactures, fills and packs topical semi-solid and liquid products for cosmetic, cosmeceutical and pharmaceutical customers.
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