M-tron Industries, Inc. (NYSE:MPTI), a company specializing in electronic components, has reported insider trading activity involving one of its major shareholders, Mario J. Gabelli. According to recent filings, Gabelli has sold a total of $46,821 worth of M-tron Industries stock.
The transactions, which occurred over a period spanning from June 13 to June 25, saw Gabelli dispose of shares at varying prices. On June 13, 500 shares were sold at a price of $35.7 each. Subsequent sales took place on June 24 and June 25, with 700 shares sold at $31.8514 per share and 200 shares at $33.38 per share, respectively. These sales represent a price range between $31.8514 and $35.7 for the shares sold during this period.
Gabelli, who is a significant shareholder of M-tron Industries, conducted these sales through direct ownership and also indirectly through GGCP, Inc., where he serves as the Chief Executive Officer, a director, and the controlling shareholder. It is important to note that while Gabelli is deemed the beneficial owner of the shares owned by GGCP, he has a less than 100% pecuniary interest in the company and disclaims beneficial ownership of the shares held by GGCP that exceed his personal economic interest.
Following these transactions, the updated ownership filings indicate that Gabelli still holds a substantial number of shares in M-tron Industries. The exact number of shares owned after the sales has not been disclosed in the summary of the filing.
Investors and market watchers often monitor insider buying and selling as it can provide insights into a company's financial health and the confidence level of its executives and major shareholders. M-tron Industries' stock performance and future insider transactions will continue to be of interest to those following the company's progress.
The reported trades were officially signed by Douglas R. Jamieson, who is the Attorney-In-Fact for Mario J. Gabelli, on June 25, 2024.
In other recent news, M-tron Industries has seen significant developments following a shareholder meeting. The company's shareholders have approved executive pay and elected board directors for the upcoming fiscal year. The elected directors, including Ivan Arteaga, Michael J. Ferrantino, Jr., Marc J. Gabelli, David M. Goldman, Robert V. La Penta Jr., Bel Lazar, John S. Mega, and Hendi Susanto, will serve until the company's 2025 Annual Meeting.
In addition to this, a non-binding advisory vote led to the approval of the compensation for M-tron's named executive officers. The company's independent auditor, PKF O'Connor Davies, LLP, was also ratified for the fiscal year ending December 31, 2024. These decisions reflect the shareholders' clear mandate regarding the governance and oversight of M-tron Industries for the coming year.
InvestingPro Insights
As M-tron Industries, Inc. (NYSE:MPTI) navigates through the market, recent data from InvestingPro provides a snapshot of the company's financial health and potential. With a market capitalization of $90.42 million and a P/E ratio of 21.66, which adjusts to a more favorable 15.65 when considering the last twelve months as of Q1 2024, M-tron stands out for its valuation relative to earnings growth. Notably, the company's PEG ratio during the same period is remarkably low at 0.14, indicating that the stock may be undervalued given its earnings growth projections.
On the liquidity front, M-tron's gross profit margin has been strong at 42.69%, with a gross profit of $18.35 million in the last twelve months as of Q1 2024. This robust profitability is further underscored by an impressive return on assets of 18.75%. These figures suggest that the company is efficient in generating profit from its assets.
InvestingPro Tips highlight that M-tron Industries holds more cash than debt on its balance sheet and that its liquid assets exceed short-term obligations, providing a measure of financial stability. Additionally, analysts predict the company will be profitable this year, which aligns with the company's positive performance over the last twelve months. For those interested in further insights, there are additional InvestingPro Tips available at https://www.investing.com/pro/MPTI. To access these tips and comprehensive analysis, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
While insider sales by major shareholders like Mario J. Gabelli can signal various strategic moves, the underlying financial metrics and expert analyses provided by InvestingPro can offer a broader context for investors considering M-tron Industries as part of their portfolio.
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