Musical company

The Singing Machine Company, Inc. (NASDAQ:MICS) Major shareholder Bitnile Holdings, Inc. buys 15,518 shares


The main shareholder of Singing Machine Company, Inc. (NASDAQ:MICS – Get Rating), Bitnile Holdings, Inc., acquired 15,518 shares of the company in a transaction dated Wednesday, June 22. The shares were purchased at an average price of $7.72 per share, for a total transaction of $119,798.96. Following the completion of the acquisition, the insider now owns 1,518,000 shares of the company, valued at $11,718,960. The purchase was disclosed in a document filed with the SEC, which is available via this hyperlink. Major shareholders who own at least 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 Friday, June 24, Bitnile Holdings, Inc. acquired 10,000 shares of Singing Machine. The shares were purchased at an average price of $7.82 per share, for a total transaction of $78,200.00.
  • On Wednesday, June 15, Bitnile Holdings, Inc. purchased 22,035 shares of Singing Machine. The shares were purchased 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 purchased at an average price of $6.01 per share, for a total transaction of $721,200.00.
  • On Thursday, June 9, Bitnile Holdings, Inc. purchased 352,400 shares of Singing Machine. The shares were purchased at an average price of $3.96 per share, for a total transaction of $1,395,504.00.

NASDAQ MICS shares opened at $7.80 on Friday. The Singing Machine Company, Inc. has a fifty-two-week low of $2.39 and a fifty-two-week high of $8.69.

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

About the singing machine (Get a rating)

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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