Musical company

Bitnile Holdings, Inc. acquires 34,831 shares of The Singing Machine Company, Inc. (NASDAQ:MICS)


Singing Machine Company, Inc. (NASDAQ:MICS – Get Rating) major shareholder Bitnile Holdings, Inc. purchased 34,831 shares in a transaction that took place on Thursday, July 21. The stock was purchased at an average price of $7.70 per share, for a total transaction of $268,198.70. Following the transaction, the insider now owns 1,621,931 shares of the company, valued at approximately $12,488,868.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC’s website. Large shareholders who hold more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Bitnile Holdings, Inc. also recently completed the following transactions:

  • On Tuesday, July 19, Bitnile Holdings, Inc. purchased 12,117 shares of Singing Machine. The stock was purchased at an average cost of $8.06 per share, for a total transaction of $97,663.02.
  • On Thursday, July 14, Bitnile Holdings, Inc. purchased 851 shares of Singing Machine. The shares were purchased at an average price of $8.73 per share, for a total transaction of $7,429.23.
  • On Thursday, July 7, Bitnile Holdings, Inc. purchased 1,300 shares of Singing Machine. The shares were purchased at an average price of $7.97 per share, with a total value of $10,361.00.
  • On Tuesday, July 5, Bitnile Holdings, Inc. acquired 1,300 shares of Singing Machine. The shares were purchased at an average price of $7.78 per share, for a total transaction of $10,114.00.
  • On Thursday, June 30, Bitnile Holdings, Inc. purchased 5,000 shares of Singing Machine. The shares were acquired at an average price of $8.15 per share, with a total value of $40,750.00.
  • On Tuesday, June 28, Bitnile Holdings, Inc. acquired 1,200 shares of Singing Machine. The shares were acquired at an average price of $8.31 per share, for a total transaction of $9,972.00.
  • On Friday, June 24, Bitnile Holdings, Inc. purchased 10,000 shares of Singing Machine. The shares were acquired at an average price of $7.82 per share, with a total value of $78,200.00.
  • On Wednesday, June 22, Bitnile Holdings, Inc. purchased 15,518 shares of Singing Machine. The shares were acquired at an average price of $7.72 per share, for a total transaction of $119,798.96.
  • On Wednesday, June 15, Bitnile Holdings, Inc. purchased 22,035 shares of Singing Machine. The stock was acquired at an average price of $6.16 per share, for a total transaction of $135,735.60.
  • On Monday, June 13, Bitnile Holdings, Inc. purchased 120,000 shares of Singing Machine. The shares were acquired at an average price of $6.01 per share, for a total transaction of $721,200.00.

Singing machine down 2.9%

MICS opened at $7.60 on Tuesday. The Singing Machine Company, Inc. has a 1-year low of $2.39 and a 1-year high of $9.82. The company has a fifty-day simple moving average of $6.94.

Analyst upgrades and downgrades

Separately, TheStreet upgraded Singing Machine from a “c-” to a “d+” rating in a Wednesday, June 1 research note.

About the singing machine

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The Singing Machine Company, Inc, together with its subsidiaries, is engaged in the development, marketing and sale of consumer karaoke audio equipment, accessories and musical recordings in North America, Europe, Asia and in Australia. It offers karaoke products under the flagship Singing Machine brand; karaoke microphones licensed under the Carpool Karaoke brand; microphone accessories and portable Bluetooth microphones under the Party Machine brand; musical entertainment singing machines for children under the brand name Singing Machine Kids; and karaoke music subscription services for iOS and Android platforms, as well as an online download store and integrated streaming services for Singing Machine hardware.

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