Deprince Race & Zollo Inc. cut its position in shares of Spartan Motors Inc. (NASDAQ:SPAR) by 56.5% during the second quarter, Holdings Channel reports. The institutional investor owned 979,829 shares of the company’s stock after selling 1,272,533 shares during the period. Deprince Race & Zollo Inc.’s holdings in Spartan Motors were worth $6,134,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Royce & Associates LP increased its position in shares of Spartan Motors by 6.3% in the first quarter. Royce & Associates LP now owns 1,841,479 shares of the company’s stock worth $7,274,000 after buying an additional 108,417 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Spartan Motors during the second quarter worth approximately $1,457,000. Renaissance Technologies LLC increased its position in shares of Spartan Motors by 80.2% in the first quarter. Renaissance Technologies LLC now owns 184,200 shares of the company’s stock worth $728,000 after buying an additional 82,000 shares in the last quarter. Algert Global LLC increased its position in shares of Spartan Motors by 62.7% in the first quarter. Algert Global LLC now owns 112,748 shares of the company’s stock worth $445,000 after buying an additional 43,458 shares in the last quarter. Finally, Strs Ohio acquired a new position in shares of Spartan Motors during the second quarter worth approximately $645,000. 65.77% of the stock is currently owned by institutional investors and hedge funds.
Spartan Motors Inc. (NASDAQ:SPAR) traded down 2.67% during midday trading on Thursday, reaching $9.49. 149,442 shares of the company were exchanged. The firm’s market cap is $326.75 million. The firm’s 50-day moving average is $9.50 and its 200-day moving average is $7.01. Spartan Motors Inc. has a one year low of $2.61 and a one year high of $10.50.
Spartan Motors (NASDAQ:SPAR) last released its earnings results on Thursday, August 4th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.11. The business had revenue of $162.50 million for the quarter, compared to the consensus estimate of $152.65 million. Spartan Motors had a negative net margin of 1.80% and a positive return on equity of 1.49%. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period last year, the firm posted $0.03 earnings per share. On average, equities analysts expect that Spartan Motors Inc. will post $0.32 EPS for the current fiscal year.
SPAR has been the topic of a number of research reports. Zacks Investment Research downgraded shares of Spartan Motors from a “buy” rating to a “hold” rating in a research note on Saturday, July 30th. Craig Hallum initiated coverage on shares of Spartan Motors in a research note on Tuesday, July 26th. They issued a “buy” rating on the stock.
In related news, Director Kenneth Kaczmarek sold 21,017 shares of the business’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $9.12, for a total transaction of $191,675.04. Following the transaction, the director now directly owns 105,124 shares of the company’s stock, valued at $958,730.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.59% of the stock is currently owned by insiders.
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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