On Tuesday, Marine Products Corp. (NYSE:MPX)’s Executive Vice President, James Lane Jr., sold 100,000 shares of Common Stock ($.10 Par Value), directly, at a price of $7.75 per share. After completing the stock transaction, James Lane still holds 398,559 shares of the powerboat manufacturing business.
Although insider stock sales and purchases are uncommon at Marine Products, some hedge funds have augmented the company’s activity in their portfolios this quarter. Mario Gabelli’s hedge fund, Gamco Investors, which holds the largest shareholder position at the company with over 2 million shares worth $15 million, increased Marine’s participation by 5%.
Ken Griffin made his first purchase of this company’s shares this quarter, and his hedge fund Citadel Investment Group now holds 22,046 shares, with a value of $166,000. Springbok Capital, the hedge fund run by Gavin Saitowitz and Cisco J. Del Valle, also augmented it’s shareholder position and now owns 15,000 shares, worth $113,000.