Nationwide Fund Advisors lowered its holdings in Spartan Motors Inc (NASDAQ:SPAR) by 62.9% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 79,711 shares of the company’s stock after selling 134,861 shares during the period. Nationwide Fund Advisors owned approximately 0.23% of Spartan Motors worth $881,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Voya Investment Management LLC grew its holdings in shares of Spartan Motors by 18.9% in the second quarter. Voya Investment Management LLC now owns 19,185 shares of the company’s stock valued at $170,000 after purchasing an additional 3,049 shares in the last quarter. Alliancebernstein L.P. acquired a new position in shares of Spartan Motors in the second quarter valued at approximately $208,000. Royal Bank of Canada grew its holdings in shares of Spartan Motors by 213.5% in the second quarter. Royal Bank of Canada now owns 27,755 shares of the company’s stock valued at $245,000 after purchasing an additional 18,903 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Spartan Motors by 15.5% in the second quarter. The Manufacturers Life Insurance Company now owns 30,895 shares of the company’s stock worth $273,000 after acquiring an additional 4,145 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Spartan Motors by 13.1% in the second quarter. Russell Investments Group Ltd. now owns 40,209 shares of the company’s stock worth $356,000 after acquiring an additional 4,670 shares during the last quarter. Hedge funds and other institutional investors own 66.23% of the company’s stock.
SPAR has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Spartan Motors from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research note on Friday, October 20th. Craig Hallum set a $20.00 price target on shares of Spartan Motors and gave the stock a “buy” rating in a research note on Friday, October 13th. BidaskClub downgraded shares of Spartan Motors from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 12th. Sidoti initiated coverage on shares of Spartan Motors in a research note on Friday, December 1st. They issued a “buy” rating for the company. Finally, ValuEngine downgraded shares of Spartan Motors from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $17.00.
In other news, insider John W. Slawson sold 21,191 shares of Spartan Motors stock in a transaction on Friday, December 15th. The shares were sold at an average price of $15.42, for a total value of $326,765.22. Following the transaction, the insider now directly owns 111,165 shares of the company’s stock, valued at approximately $1,714,164.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.72% of the company’s stock.
Shares of Spartan Motors Inc (NASDAQ:SPAR) opened at $14.95 on Friday. The firm has a market cap of $524.79, a P/E ratio of 36.46, a PEG ratio of 1.83 and a beta of 1.21. The company has a current ratio of 1.70, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. Spartan Motors Inc has a 12-month low of $6.30 and a 12-month high of $18.10.
Spartan Motors (NASDAQ:SPAR) last issued its quarterly earnings data on Wednesday, November 1st. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.03). The company had revenue of $189.22 million for the quarter, compared to analysts’ expectations of $185.30 million. Spartan Motors had a return on equity of 8.04% and a net margin of 2.15%. The firm’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.10 EPS. research analysts expect that Spartan Motors Inc will post 0.41 earnings per share for the current fiscal year.
The firm also recently announced a Semi-Annual dividend, which was paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th were issued a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, November 14th. This represents a dividend yield of 0.65%. Spartan Motors’s payout ratio is 24.39%.
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About Spartan Motors
Spartan Motors, Inc is an engineer and manufacturer in the heavy-duty, custom vehicles marketplace. The Company operates through three segments: Emergency Response Vehicles, Delivery and Service Vehicles, and Specialty Chassis and Vehicles. The Company’s Emergency Response Vehicles segment engineers and manufactures emergency response chassis, emergency response bodies and aerial equipment.
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