Sacks Parente Golf (SPGC) to Release Earnings on Monday

Sacks Parente Golf (NASDAQ:SPGC) is expected to post its quarterly earnings results before the market opens on Monday, March 17th. Analysts expect Sacks Parente Golf to post earnings of ($0.30) per share and revenue of $1.09 million for the quarter.

Sacks Parente Golf Price Performance

SPGC stock opened at $0.18 on Monday. The company has a 50 day simple moving average of $0.47 and a 200 day simple moving average of $1.52. The stock has a market cap of $322,471.60, a price-to-earnings ratio of -0.05 and a beta of 4.58. Sacks Parente Golf has a 1 year low of $0.10 and a 1 year 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.

Insider Buying and Selling

In other Sacks Parente Golf news, Director Brett Widney Hoge bought 100,000 shares of Sacks Parente Golf stock in a transaction on Thursday, December 12th. The shares were purchased at an average cost of $0.31 per share, with a total value of $31,000.00. Following the acquisition, the director now directly owns 186,014 shares of the company’s stock, valued at $57,664.34. The trade was a 116.26 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders purchased a total of 163,000 shares of company stock worth $53,080 in the last three months. 8.37% of the stock is owned by corporate insiders.

Sacks Parente Golf Company Profile

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.