Algert Global LLC Acquires 20,480 Shares of Spartan Motors, Inc. (NASDAQ:SPAR)

Algert Global LLC raised its stake in shares of Spartan Motors, Inc. (NASDAQ:SPAR) by 27.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 95,706 shares of the company’s stock after buying an additional 20,480 shares during the period. Algert Global LLC’s holdings in Spartan Motors were worth $847,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Municipal Employees Retirement System of Michigan acquired a new position in Spartan Motors during the second quarter valued at about $495,000. Strs Ohio raised its position in Spartan Motors by 5.5% in the second quarter. Strs Ohio now owns 77,100 shares of the company’s stock valued at $682,000 after buying an additional 4,000 shares during the last quarter. Russell Investments Group Ltd. raised its position in Spartan Motors by 13.1% in the second quarter. Russell Investments Group Ltd. now owns 40,209 shares of the company’s stock valued at $356,000 after buying an additional 4,670 shares during the last quarter. Eqis Capital Management Inc. raised its position in Spartan Motors by 16.4% in the second quarter. Eqis Capital Management Inc. now owns 17,871 shares of the company’s stock valued at $158,000 after buying an additional 2,513 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Spartan Motors by 106.8% in the first quarter. Goldman Sachs Group Inc. now owns 53,653 shares of the company’s stock valued at $429,000 after buying an additional 27,708 shares during the last quarter. Hedge funds and other institutional investors own 65.08% of the company’s stock.

Shares of Spartan Motors, Inc. (NASDAQ:SPAR) opened at 8.90 on Friday. Spartan Motors, Inc. has a 12 month low of $6.30 and a 12 month high of $10.50. The company has a market cap of $312.33 million, a P/E ratio of 83.18 and a beta of 1.11. The company’s 50 day moving average is $8.88 and its 200 day moving average is $8.26.

Spartan Motors (NASDAQ:SPAR) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01. Spartan Motors had a net margin of 0.59% and a return on equity of 5.57%. The firm had revenue of $169.70 million during the quarter, compared to analysts’ expectations of $167.83 million. During the same quarter in the prior year, the company earned $0.19 EPS. The company’s revenue was up 4.4% compared to the same quarter last year. On average, equities research analysts predict that Spartan Motors, Inc. will post $0.50 EPS for the current fiscal year.

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Several brokerages recently weighed in on SPAR. Zacks Investment Research raised shares of Spartan Motors from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research report on Saturday, August 5th. BidaskClub downgraded shares of Spartan Motors from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Roth Capital set a $12.00 price target on shares of Spartan Motors and gave the company a “buy” rating in a research report on Tuesday, August 1st. Finally, TheStreet raised shares of Spartan Motors from a “c” rating to a “b-” rating in a research report on Monday, May 15th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $10.67.

Spartan Motors Company Profile

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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Institutional Ownership by Quarter for Spartan Motors (NASDAQ:SPAR)

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