In a recent filing with the Securities and Exchange Commission, Gregor Alasdair Campbell, Executive Chairman of Sacks Parente Golf, Inc. (NASDAQ:SPGC), a micro-cap company with a market value of $3.03 million, reported a purchase of common stock. On December 3, 2024, Campbell acquired 3,000 shares at a price of $1.67 per share, totaling $5,010. Following this transaction, Campbell holds a total of 40,337 shares in the company. The purchase comes as SPGC trades near its 52-week low, with the stock down over 75% year-to-date despite maintaining impressive gross profit margins of 61%. According to InvestingPro analysis, the stock appears undervalued at current levels, with 14 additional real-time insights available to subscribers.
In other recent news, Newton Golf has made significant strides in its global expansion strategy and executive team restructuring. The company announced the availability of its innovative Newton Motion shafts in Japan, extending its reach to the second-largest golf market globally. This move comes as part of the company's strategic plan to manufacture and assemble most of its products in the United States while exploring growth in golf apparel and related product lines.
Simultaneously, Newton Golf announced the appointment of Doug Samuelson as its new Chief Financial Officer, following the resignation of former CFO Steve Handy. Samuelson brings over three decades of financial expertise to the company and is expected to contribute to its continued revenue growth.
In addition to Samuelson's appointment, the company confirmed Gregor Campbell's role as Executive Chairman. Campbell, previously serving in an interim capacity, has been granted an option to purchase 400,000 shares of the company's common stock.
These recent developments reflect Newton Golf's commitment to providing value to its shareholders and strengthening its executive team. The company is actively interviewing potential candidates to replace Handy, ensuring a smooth transition. These actions are part of the company's ongoing efforts to maintain its listing on a major stock exchange.
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