Robin L. Marino Buys 30,243 Shares of Summer Infant Inc. (SUMR) Stock
Summer Infant Inc. (NASDAQ:SUMR) Director Robin L. Marino acquired 30,243 shares of the firm’s stock in a transaction dated Thursday, November 10th. The stock was bought at an average price of $1.87 per share, with a total value of $56,554.41. Following the purchase, the director now directly owns 78,432 shares in the company, valued at approximately $146,667.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Shares of Summer Infant Inc. (NASDAQ:SUMR) opened at 1.825 on Wednesday. The firm’s market cap is $33.76 million. Summer Infant Inc. has a 12 month low of $1.22 and a 12 month high of $2.44. The stock’s 50 day moving average price is $2.04 and its 200 day moving average price is $1.89.
Several equities analysts have recently issued reports on the company. Zacks Investment Research upgraded Summer Infant from a “hold” rating to a “buy” rating and set a $2.25 price objective for the company in a research note on Tuesday, August 2nd. Piper Jaffray Cos. reissued an “overweight” rating and set a $2.00 target price on shares of Summer Infant in a research report on Wednesday, August 3rd.
A hedge fund recently raised its stake in Summer Infant stock. Tocqueville Asset Management L.P. boosted its stake in Summer Infant Inc. (NASDAQ:SUMR) by 17.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,487,082 shares of the company’s stock after buying an additional 215,621 shares during the period. Tocqueville Asset Management L.P. owned approximately 8.07% of Summer Infant worth $2,469,000 as of its most recent SEC filing. 47.87% of the stock is currently owned by hedge funds and other institutional investors.
About Summer Infant
Summer Infant, Inc (Summer) is an infant and juvenile products company. The Company creates branded juvenile safety and infant care products (targeted for ages 0 to 3 years) that are focused to deliver a range of parenting solutions to families. It markets over 1,100 products in various product categories, including monitoring, safety, nursery, baby gear and feeding products.
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