Sacks Parente Golf Stock to Reverse Split on Monday, March 17th (NASDAQ:SPGC)

Shares of Sacks Parente Golf, Inc. (NASDAQ:SPGC) are going to reverse split on the morning of Monday, March 17th. The 1-30 reverse split was announced on Tuesday, March 11th. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, March 14th.

Sacks Parente Golf Trading Up 0.9 %

SPGC stock opened at $0.11 on Thursday. The stock has a market capitalization of $197,208.00, a P/E ratio of -0.03 and a beta of 4.59. The firm has a 50-day moving average price of $0.45 and a 200-day moving average price of $1.47. Sacks Parente Golf has a 12 month low of $0.09 and a 12 month high of $6.69.

Sacks Parente Golf declared that its board has initiated a share buyback program on Monday, February 3rd that authorizes the company to buyback $1.00 million in shares. This buyback authorization authorizes the company to repurchase up to 85.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Sacks Parente Golf

A hedge fund recently bought a new stake in Sacks Parente Golf stock. Renaissance Technologies LLC purchased a new stake in Sacks Parente Golf, Inc. (NASDAQ:SPGC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 172,300 shares of the company’s stock, valued at approximately $72,000. Renaissance Technologies LLC owned about 9.44% of Sacks Parente Golf as of its most recent filing with the Securities and Exchange Commission. 0.49% of the stock is owned by hedge funds and other institutional investors.

About Sacks Parente Golf

Sacks Parente Golf, Inc, a technology-forward golf company, manufactures and sells golf products. The company provides putting instruments, golf shafts, golf grips, and other golf-related products. It also offers online custom fitting programs. The company sells its products through e-commerce, distributors, wholesale customers, including pro-shops at golf courses and off-course retailers, sporting goods retailers, online retailers, third-party distributors, and through Club Champion Golf, as well as through mass merchants and corporate customers in the Americas, Asia, and Europe.