The LGL Group (NYSE:LGL) Trading 3.6% Higher – Here’s Why

The LGL Group, Inc. (NYSE:LGL)’s share price rose 3.6% during trading on Thursday . The company traded as high as $7.16 and last traded at $6.99. Approximately 134,998 shares were traded 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 3.6%

The stock has a market cap of $38.66 million, a P/E ratio of 41.12 and a beta of 0.36. The company has a 50-day simple moving average of $5.95 and a two-hundred day simple moving average of $6.45.

Insider Buying and Selling

In other news, major shareholder Mario J. Gabelli purchased 95,387 shares of the stock in a transaction that occurred on Tuesday, December 30th. The stock was bought at an average cost of $4.75 per share, for a total transaction of $453,088.25. Following the acquisition, the insider directly owned 572,324 shares of the company’s stock, valued at $2,718,539. This represents a 20.00% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 18.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On The LGL Group

A hedge fund recently bought a new stake in The LGL Group stock. Citadel Advisors LLC acquired a new stake in shares of The LGL Group, Inc. (NYSE:LGL) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,515 shares of the company’s stock, valued at approximately $90,000. Citadel Advisors LLC owned about 0.25% of The LGL Group at the end of the most recent quarter. 30.28% of the stock is currently owned by hedge funds and other institutional investors.

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.