First Manhattan Co. lessened its position in shares of Spartan Motors Inc (NASDAQ:SPAR) by 4.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 63,905 shares of the company’s stock after selling 3,100 shares during the quarter. First Manhattan Co. owned about 0.18% of Spartan Motors worth $700,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Bank of Montreal Can grew its stake in shares of Spartan Motors by 19,486.7% in the second quarter. Bank of Montreal Can now owns 2,938 shares of the company’s stock worth $32,000 after acquiring an additional 2,923 shares in the last quarter. Aperio Group LLC acquired a new position in shares of Spartan Motors in the second quarter worth $33,000. Acadian Asset Management LLC acquired a new position in shares of Spartan Motors in the second quarter worth $48,000. BNP Paribas Arbitrage SA grew its stake in shares of Spartan Motors by 54,830.8% in the first quarter. BNP Paribas Arbitrage SA now owns 7,141 shares of the company’s stock worth $63,000 after acquiring an additional 7,128 shares in the last quarter. Finally, Algert Global LLC acquired a new position in shares of Spartan Motors in the second quarter worth $173,000. Hedge funds and other institutional investors own 69.53% of the company’s stock.
Shares of Spartan Motors stock traded down $0.05 on Monday, reaching $13.80. 15,376 shares of the stock were exchanged, compared to its average volume of 163,012. Spartan Motors Inc has a 1-year low of $6.70 and a 1-year high of $14.86. The company has a current ratio of 1.61, a quick ratio of 1.13 and a debt-to-equity ratio of 0.17. The business has a fifty day moving average price of $12.61 and a two-hundred day moving average price of $10.44. The firm has a market capitalization of $485.32 million, a PE ratio of 28.75 and a beta of 1.46.
Spartan Motors (NASDAQ:SPAR) last issued its earnings results on Thursday, August 1st. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.01). Spartan Motors had a return on equity of 8.65% and a net margin of 1.27%. The company had revenue of $247.94 million for the quarter, compared to analyst estimates of $235.60 million. Research analysts expect that Spartan Motors Inc will post 0.74 EPS for the current year.
A number of brokerages recently commented on SPAR. Sidoti boosted their target price on shares of Spartan Motors from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. BidaskClub upgraded shares of Spartan Motors from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Craig Hallum boosted their target price on shares of Spartan Motors from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Zacks Investment Research downgraded shares of Spartan Motors from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Finally, ValuEngine upgraded shares of Spartan Motors from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $16.25.
In other news, CEO Daryl M. Adams sold 12,500 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $11.88, for a total value of $148,500.00. Following the sale, the chief executive officer now directly owns 627,175 shares in the company, valued at $7,450,839. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.78% of the company’s stock.
About Spartan Motors
Spartan Motors, Inc, through its subsidiaries, engineers, manufactures, assembles, and sells specialty and heavy-duty vehicles in the United States, Canada, South America, and Asia. It operates through three segments: Fleet Vehicles and Services, Emergency Response Vehicles, and Specialty Chassis and Vehicles.
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