CAMARILLO, Calif.—Gregor Alasdair Campbell, the Executive Chairman of Sacks Parente Golf, Inc. (NASDAQ:SPGC), recently acquired 25,000 shares of the company's common stock. The transaction, which took place on December 30, 2024, was executed at a price of $0.36 per share, amounting to a total investment of $9,000. Following this purchase, Campbell's direct ownership in Sacks Parente Golf now totals 103,337 shares.The insider purchase comes as SPGC trades near its 52-week low of $0.26, with the stock down over 94% year-to-date. According to InvestingPro analysis, the company maintains impressive gross profit margins of 61% and holds more cash than debt on its balance sheet. Technical indicators suggest the stock is currently in oversold territory, with 16 additional real-time insights available to InvestingPro subscribers.
In other recent news, Sacks Parente Golf, Inc. announced the results of its annual stockholders' meeting, where all five director nominees were elected to serve a one-year term on the Board of Directors. The company also ratified the appointment of Weinberg & Company, P.A. as the independent registered public accounting firm for the upcoming fiscal year. In addition, Sacks Parente Golf declared an $8.4 million public offering, with proceeds planned for general corporate purposes and working capital, as disclosed in a registration statement filed with the SEC.
Meanwhile, Newton Golf, a subsidiary of Sacks Parente Golf, expanded its market to Japan, launching its Newton Motion shafts for sale through retail and e-commerce channels. In relation to this expansion, the company announced significant changes in its executive team, appointing Doug Samuelson as its new Chief Financial Officer and confirming Gregor Campbell as its Executive Chairman. These recent developments reflect the company's commitment to providing value to its shareholders.
According to InvestingPro analysis, Sacks Parente Golf maintains impressive gross profit margins of 61.2%, despite experiencing rapid cash burn. The company's forward-looking statements indicate plans for product development and business expansion. However, these are not guarantees of future performance.
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