Marten Transport Ltd. (MRTN) Sets New 12-Month High at $22.09
Marten Transport Ltd. (NASDAQ:MRTN) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $22.09 and last traded at $21.98, with a volume of 52,620 shares traded. The stock had previously closed at $21.52.
Several brokerages have recently issued reports on MRTN. Avondale Partners downgraded shares of Marten Transport from an “outperform” rating to a “market perform” rating and set a $22.00 price objective for the company. in a research report on Friday, July 22nd. Zacks Investment Research downgraded shares of Marten Transport from a “hold” rating to a “sell” rating in a research report on Friday, June 24th.
The company has a 50-day moving average of $20.94 and a 200 day moving average of $18.81. The firm has a market capitalization of $713.60 million and a price-to-earnings ratio of 21.55.
Marten Transport (NASDAQ:MRTN) last posted its earnings results on Tuesday, July 19th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.25 by $0.01. The business had revenue of $166.10 million for the quarter, compared to analyst estimates of $168.17 million. On average, equities analysts forecast that Marten Transport Ltd. will post $1.00 EPS for the current fiscal year.
In other news, CEO Randolph L. Marten sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 24th. The shares were sold at an average price of $19.27, for a total value of $770,800.00. Following the transaction, the chief executive officer now owns 7,283,921 shares in the company, valued at approximately $140,361,157.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John H. Turner sold 1,275 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $22.00, for a total transaction of $28,050.00. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have recently modified their holdings of MRTN. Rhumbline Advisers increased its position in shares of Marten Transport by 3.8% in the fourth quarter. Rhumbline Advisers now owns 63,863 shares of the company’s stock worth $1,130,000 after buying an additional 2,310 shares during the period. New York State Common Retirement Fund increased its position in shares of Marten Transport by 8.9% in the fourth quarter. New York State Common Retirement Fund now owns 81,243 shares of the company’s stock worth $1,438,000 after buying an additional 6,617 shares during the period. Finally, First Trust Advisors LP increased its position in shares of Marten Transport by 1,119.2% in the fourth quarter. First Trust Advisors LP now owns 168,527 shares of the company’s stock worth $2,983,000 after buying an additional 154,704 shares during the period.
Marten Transport, Ltd. is a national protective service transportation company. It is a temperature-sensitive truckload carrier. The Company specializes in transporting and distributing food and other consumer-packaged goods that require a temperature-controlled or insulated environment. The Company operates through four segments: Truckload, Dedicated, Intermodal and Brokerage.
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