Perritt Capital Management Inc. grew its stake in Spartan Motors Inc (NASDAQ:SPAR) by 74.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 120,000 shares of the company’s stock after purchasing an additional 51,135 shares during the quarter. Perritt Capital Management Inc.’s holdings in Spartan Motors were worth $1,315,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of SPAR. Wells Fargo & Company MN increased its position in Spartan Motors by 82.1% during the 2nd quarter. Wells Fargo & Company MN now owns 767,326 shares of the company’s stock valued at $8,410,000 after purchasing an additional 346,055 shares during the period. Renaissance Technologies LLC lifted its position in shares of Spartan Motors by 29.6% in the 2nd quarter. Renaissance Technologies LLC now owns 682,748 shares of the company’s stock worth $7,483,000 after purchasing an additional 155,900 shares during the period. Pacific Ridge Capital Partners LLC lifted its position in shares of Spartan Motors by 29.6% in the 1st quarter. Pacific Ridge Capital Partners LLC now owns 513,707 shares of the company’s stock worth $4,536,000 after purchasing an additional 117,438 shares during the period. Marshall Wace LLP boosted its stake in shares of Spartan Motors by 832.2% during the 1st quarter. Marshall Wace LLP now owns 118,609 shares of the company’s stock valued at $1,047,000 after purchasing an additional 105,886 shares in the last quarter. Finally, Deutsche Bank AG boosted its stake in shares of Spartan Motors by 99.9% during the 4th quarter. Deutsche Bank AG now owns 148,163 shares of the company’s stock valued at $1,069,000 after purchasing an additional 74,048 shares in the last quarter. Institutional investors own 69.53% of the company’s stock.
In related news, insider Daryl M. Adams sold 12,500 shares of the business’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $9.52, for a total transaction of $119,000.00. Following the sale, the insider now owns 664,675 shares of the company’s stock, valued at $6,327,706. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 50,000 shares of company stock valued at $570,250. 3.78% of the stock is currently owned by corporate insiders.
Spartan Motors stock traded up $0.59 on Wednesday, hitting $13.75. 37,950 shares of the stock traded hands, compared to its average volume of 132,685. Spartan Motors Inc has a 1 year low of $6.70 and a 1 year high of $16.00. The firm has a market cap of $429.51 million, a P/E ratio of 28.52 and a beta of 1.46. 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’s fifty day simple moving average is $12.16 and its 200 day simple moving average is $10.07.
Spartan Motors (NASDAQ:SPAR) last released its earnings results on Thursday, August 1st. The company reported $0.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.01). The business had revenue of $247.94 million during the quarter, compared to analysts’ expectations of $235.60 million. Spartan Motors had a return on equity of 8.65% and a net margin of 1.27%. As a group, analysts predict that Spartan Motors Inc will post 0.74 earnings per share for the current year.
A number of equities analysts recently issued reports on the stock. ValuEngine raised shares of Spartan Motors from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. BidaskClub lowered shares of Spartan Motors from a “buy” rating to a “hold” rating in a report on Thursday, August 15th. Zacks Investment Research cut Spartan Motors from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Roth Capital reiterated a “buy” rating on shares of Spartan Motors in a report on Friday, May 24th. Finally, Craig Hallum increased their target price on Spartan Motors from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $15.00.
Spartan Motors Company Profile
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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