In a filing with the Securities Exchange Commission (SEC), a top shareholder of VOXX International Corporation (NASDAQ: VOXX), Kahli Beat, revealed that he has increased his stake in the company.
Voxx International is a consumer electronics company, which is primarily focused on OEM and after-market automotive electronics, consumer electronics accessories, and consumer and commercial audio equipment.
Shares of the company declined 5.3% on Wednesday to close at $7.94.
On May 31, Beat, who is a Director at VOXX International and owns more than a 10% stake in the company, bought 10,000 shares at an average price of $8.36 per share. Following the transaction, the director now owns 4,475,001 shares of the company worth roughly $37.4 million.
On May 23, the top shareholder of VOXX International bought 19,855 shares of the company at an average price of $7.49 per share. On May 24, he bought 20,145 shares at a per-share price of $7.41.
Between May 21 and May 31, Beat bought a total of 85,001 shares of the company, including the ones that were purchased on May 31.
Insiders on TipRanks
TipRanks’ Insider Trading Activity tool shows that Insider Confidence Signal is currently Positive on VOXX, as Corporate Insiders have bought shares worth $947,700 in the last three months.
A key insider like Kahli Beat loading up on VOXX stock conveys that the company’s fundamentals are solid, and it is well-positioned for growth.
Read full Disclosure