In a recent move, Mark Dr Green, the congressional representative for Tennessee's 7th district, engaged in a significant transaction involving NGL Energy Partners LP (NYSE:NGL), currently trading at $4.75 with a market capitalization of $632 million. The transaction, which was a sale, fell within the range of $15,001 to $50,000.
The sale was executed on December 3, 2024, and was promptly reported on December 16, 2024. The transaction involved common units representing Limited Partner Interests in NGL Energy Partners LP, a publicly traded company specializing in energy and related businesses. According to InvestingPro analysis, the company currently faces profitability challenges and weak gross profit margins, with the stock down about 14% year-to-date.
The transaction was carried out through an Equitable Advisors Investment Account, a type of brokerage account. The report did not specify if the sale resulted in capital gains exceeding $200.
Mark Dr Green's trade comes amidst a flurry of congressional trading activity, which has gained increased public attention in recent years. However, it's important to note that such transactions are not uncommon and are part of the financial activities of many congress members.
As always, investors are advised to keep an eye on the trading activities of influential individuals, as these can sometimes provide indications of broader market trends. However, individual transactions should not be seen as a direct investment recommendation.
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