Spartan Motors (SPAR) Trading Down 5.5% Following Insider Selling

Spartan Motors Inc (NASDAQ:SPAR)’s share price dropped 5.5% during mid-day trading on Thursday following insider selling activity. The company traded as low as $14.25 and last traded at $14.65. Approximately 652,478 shares were traded during trading, an increase of 157% from the average daily volume of 253,705 shares. The stock had previously closed at $15.50.

Specifically, CFO Frederick J. Sohm sold 16,000 shares of the company’s stock in a transaction dated Tuesday, June 12th. The shares were sold at an average price of $15.97, for a total value of $255,520.00. Following the transaction, the chief financial officer now directly owns 151,755 shares in the company, valued at $2,423,527.35. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Thomas C. Schultz sold 18,380 shares of the company’s stock in a transaction dated Monday, June 11th. The stock was sold at an average price of $16.17, for a total transaction of $297,204.60. Following the completion of the transaction, the insider now owns 153,388 shares in the company, valued at $2,480,283.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,799 shares of company stock worth $965,492. Company insiders own 4.22% of the company’s stock.

SPAR has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Spartan Motors from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Tuesday, March 13th. Roth Capital restated a “buy” rating on shares of Spartan Motors in a report on Friday, March 2nd. ValuEngine upgraded shares of Spartan Motors from a “hold” rating to a “buy” rating in a report on Friday, March 2nd. Finally, BidaskClub upgraded shares of Spartan Motors from a “sell” rating to a “hold” rating in a report on Friday, June 8th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $19.67.

The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.44 and a current ratio of 1.88. The firm has a market capitalization of $569.99 million, a PE ratio of 34.07, a PEG ratio of 1.70 and a beta of 0.61.

Spartan Motors (NASDAQ:SPAR) last issued its earnings results on Thursday, May 3rd. The company reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.04. Spartan Motors had a net margin of 2.98% and a return on equity of 10.21%. The company had revenue of $173.04 million for the quarter, compared to analysts’ expectations of $171.51 million. During the same period in the prior year, the business earned $0.04 EPS. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. equities analysts expect that Spartan Motors Inc will post 0.63 EPS for the current year.

The firm also recently announced a semiannual dividend, which will be paid on Friday, June 15th. Shareholders of record on Tuesday, May 15th will be issued a dividend of $0.05 per share. This represents a yield of 0.6%. The ex-dividend date of this dividend is Monday, May 14th. Spartan Motors’s payout ratio is 23.26%.

Institutional investors have recently modified their holdings of the business. Teacher Retirement System of Texas bought a new position in Spartan Motors during the 4th quarter worth about $179,000. Citadel Advisors LLC bought a new position in Spartan Motors during the 4th quarter worth about $226,000. Campbell & CO Investment Adviser LLC bought a new position in Spartan Motors during the 1st quarter worth about $234,000. State Board of Administration of Florida Retirement System bought a new position in Spartan Motors during the 1st quarter worth about $234,000. Finally, Raymond James Financial Services Advisors Inc. bought a new position in Spartan Motors during the 4th quarter worth about $237,000. Institutional investors own 69.22% of the company’s stock.

Spartan Motors Company Profile

Spartan Motors, Inc, through its subsidiaries, engineers, manufactures, and sells heavy-duty and purpose-built specialty 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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