Millennium Management LLC decreased its position in Spartan Motors Inc (NASDAQ:SPAR) by 75.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,554 shares of the company’s stock after selling 202,306 shares during the quarter. Millennium Management LLC owned 0.19% of Spartan Motors worth $1,020,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Centaurus Financial Inc. increased its holdings in shares of Spartan Motors by 154.5% in the 2nd quarter. Centaurus Financial Inc. now owns 313,649 shares of the company’s stock valued at $4,736,000 after acquiring an additional 190,416 shares during the period. MetLife Investment Advisors LLC grew its position in Spartan Motors by 40.2% in the 2nd quarter. MetLife Investment Advisors LLC now owns 16,327 shares of the company’s stock valued at $247,000 after buying an additional 4,685 shares during the last quarter. Paloma Partners Management Co grew its position in Spartan Motors by 92.6% in the 2nd quarter. Paloma Partners Management Co now owns 42,400 shares of the company’s stock valued at $640,000 after buying an additional 20,386 shares during the last quarter. Macquarie Group Ltd. grew its position in Spartan Motors by 181.9% in the 2nd quarter. Macquarie Group Ltd. now owns 38,903 shares of the company’s stock valued at $587,000 after buying an additional 25,103 shares during the last quarter. Finally, Capital Fund Management S.A. purchased a new position in Spartan Motors in the 2nd quarter valued at $216,000. 68.33% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on the stock. ValuEngine lowered shares of Spartan Motors from a “buy” rating to a “hold” rating in a research report on Friday, August 10th. BidaskClub lowered shares of Spartan Motors from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 26th. Zacks Investment Research lowered shares of Spartan Motors from a “buy” rating to a “hold” rating in a research report on Thursday, October 4th. Roth Capital lowered their price objective on shares of Spartan Motors from $20.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Craig Hallum set a $12.00 price objective on shares of Spartan Motors and gave the company a “buy” rating in a research report on Wednesday, October 31st. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. Spartan Motors has an average rating of “Hold” and an average target price of $14.33.
In related news, Director Paul Anthony Mascarenas bought 15,000 shares of the firm’s stock in a transaction on Friday, November 2nd. The shares were bought at an average cost of $7.35 per share, for a total transaction of $110,250.00. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at $110,250. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Stephen K. Guillaume sold 4,144 shares of the business’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $15.23, for a total transaction of $63,113.12. Following the sale, the insider now owns 63,429 shares in the company, valued at $966,023.67. The disclosure for this sale can be found here. Company insiders own 4.22% of the company’s stock.
NASDAQ:SPAR opened at $7.40 on Monday. Spartan Motors Inc has a 1-year low of $6.70 and a 1-year high of $19.45. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.28 and a current ratio of 1.74. The firm has a market capitalization of $260.29 million, a P/E ratio of 17.21 and a beta of 1.31.
Spartan Motors (NASDAQ:SPAR) last posted its quarterly earnings data on Wednesday, October 31st. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.08). Spartan Motors had a net margin of 2.04% and a return on equity of 9.77%. The firm had revenue of $226.18 million during the quarter, compared to analysts’ expectations of $227.27 million. During the same quarter last year, the business earned $0.21 earnings per share. The business’s quarterly revenue was up 19.5% on a year-over-year basis. Analysts forecast that Spartan Motors Inc will post 0.43 earnings per share for the current fiscal year.
About Spartan Motors
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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