Gear4music Holdings PLC (LON:G4M) traded up 7.5% on Friday after an insider bought additional shares in the company. The company traded as high as GBX 195.43 ($2.55) and last traded at GBX 193.50 ($2.53). 150,018 shares changed hands during trading, an increase of 661% from the average session volume of 19,725 shares. The stock had previously closed at GBX 180 ($2.35).
Specifically, insider Eric Kenelm Ford bought 10,000 shares of the business’s stock in a transaction dated Friday, January 18th. The shares were purchased at an average cost of GBX 184 ($2.40) per share, with a total value of £18,400 ($24,042.86).
Separately, Peel Hunt reissued a “buy” rating on shares of Gear4music in a report on Thursday, January 3rd.
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Gear4music (Holdings) plc engages in the retail of musical instruments and equipment in Europe and internationally. It offers electric, acoustic, and bass guitars; drums and percussion products, including electronic drums and drum pads, e-drum accessories, hybrid drumming products, acoustic drum kits, acoustic kit types, individual drums, cymbals, snare and frame drums, drum hardware products, drum accessories, and various percussion products; and pianos and keyboards, such as digital, acoustic, and grand pianos, as well as MIDI keyboards, synth key products, and accessories.
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