Telemetry Investments L.L.C. increased its position in Sparton Co. (NYSE:SPA) by 74.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 78,954 shares of the electronics maker’s stock after buying an additional 33,749 shares during the quarter. Sparton comprises 0.9% of Telemetry Investments L.L.C.’s holdings, making the stock its 20th largest position. Telemetry Investments L.L.C.’s holdings in Sparton were worth $1,436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in SPA. Royce & Associates LP purchased a new position in Sparton in the 4th quarter worth approximately $25,000. Water Island Capital LLC purchased a new position in Sparton in the 3rd quarter worth approximately $144,000. Rhumbline Advisers purchased a new position in Sparton in the 4th quarter worth approximately $240,000. Bank of America Corp DE increased its stake in Sparton by 1,795.5% in the 2nd quarter. Bank of America Corp DE now owns 16,870 shares of the electronics maker’s stock worth $320,000 after purchasing an additional 15,980 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Sparton in the 3rd quarter worth approximately $283,000. Institutional investors own 74.88% of the company’s stock.
Shares of SPA remained flat at $$18.51 during mid-day trading on Friday. The stock had a trading volume of 26,459 shares, compared to its average volume of 121,970. Sparton Co. has a 52-week low of $11.95 and a 52-week high of $19.77. The stock has a market capitalization of $181.95 million, a PE ratio of 14.76 and a beta of 0.53.
Separately, TheStreet raised Sparton from a “d+” rating to a “c” rating in a research note on Monday, February 11th.
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Sparton Corporation, together with its subsidiaries, provides design, development, and manufacturing services for electromechanical devices; and engineered products in electromechanical value stream worldwide. The company operates through two segments, Manufacturing & Design Services (MDS), and Engineered Components & Products (ECP).
Further Reading: Leveraged Buyout (LBO)
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