In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Global Power Equipment Group Inc. (NYSE:GLPW) reported that Wynnefield Capital has picked up 963,454 of common stock as of 2017-06-22.
The acquisition brings the aggregate amount owned by Wynnefield Capital to a total of 963,454 representing a 5.5% stake in the company.
For those not familiar with the company, Global Power Equipment Group Inc. is a design, engineering and manufacturing company providing an array of equipment and services to the global power infrastructure, energy and process industries. The Products segment includes two primary product categories: Mechanical Solutions, which designs, engineers and manufactures a portfolio of equipment for utility-scale natural gas turbines, and Electrical Solutions, which provides custom-configured electrical houses and generator enclosures for various industries. The Services segment provides lifecycle maintenance, repair, on-site specialty support, outage management, construction and fabrication services for the power generation, industrial, chemical/petrochemical processing, and oil and gas industries. Its products portfolio span from auxiliary equipment for gas turbines to small, high alloy parts, such as seals, shims and brackets. It also offers a range of services that have been managing plant asset value.
A glance at Global Power Equipment Group Inc. (NYSE:GLPW)’s key stats reveals a current market capitalization of $59.46 Million based on $17.49 Million shares outstanding and a price at last close of $3.40 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-01-28, Wynnefield picked up 76,847 at a purchase price of $2.50. This brings their total holding to 1,553,189 as of the date of the filing.
On the sell side, the most recent transaction saw Salvati unload 6,500 shares at a sale price of $17.11. This brings their total holding to 12,360.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an Global Power Equipment Group Inc. (NYSE:GLPW) as things move forward to see if its progress aligns with these transactions.
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