Essex Investment Management Co. LLC Raises Position in Manitex International Inc. (MNTX)
Essex Investment Management Co. LLC raised its stake in shares of Manitex International Inc. (NASDAQ:MNTX) by 44.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 89,661 shares of the company’s stock after buying an additional 27,434 shares during the period. Essex Investment Management Co. LLC’s holdings in Manitex International were worth $621,000 as of its most recent filing with the SEC.
Shares of Manitex International Inc. (NASDAQ:MNTX) traded up 0.55% during mid-day trading on Wednesday, reaching $5.52. 17,238 shares of the company traded hands. The stock’s market capitalization is $89.02 million. The stock’s 50 day moving average is $5.74 and its 200 day moving average is $6.37. Manitex International Inc. has a 52-week low of $4.25 and a 52-week high of $7.68.
Manitex International (NASDAQ:MNTX) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.02 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.02. Manitex International had a negative net margin of 1.44% and a negative return on equity of 0.65%. The business earned $96.30 million during the quarter, compared to analysts’ expectations of $98.60 million. During the same period in the previous year, the company earned $0.02 earnings per share. Manitex International’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, analysts anticipate that Manitex International Inc. will post $0.01 earnings per share for the current year.
MNTX has been the topic of several recent research reports. Zacks Investment Research downgraded shares of Manitex International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 7th. Roth Capital reiterated a “buy” rating and issued a $7.50 price objective on shares of Manitex International in a research report on Monday, August 8th.
Manitex International Company Profile
Manitex International, Inc is a provider of engineered specialty lifting and loading products. The Company operates in three business segments: the Lifting Equipment segment, the A.S.V., LLC (ASV) segment and the Equipment Distribution segment. Through its Lifting Equipment segment, the Company designs, manufactures and distributes a diverse group of products that serve various functions and are used in a range of industries.
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