Alliancebernstein L.P. lowered its stake in Marten Transport, Ltd. (NASDAQ:MRTN) by 15.8% during the first quarter, Holdings Channel reports. The fund owned 19,550 shares of the transportation company’s stock after selling 3,664 shares during the period. Alliancebernstein L.P.’s holdings in Marten Transport were worth $458,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of MRTN. FMR LLC acquired a new position in shares of Marten Transport during the fourth quarter valued at about $2,980,000. Russell Investments Group Ltd. boosted its position in shares of Marten Transport by 78.6% in the first quarter. Russell Investments Group Ltd. now owns 156,686 shares of the transportation company’s stock valued at $3,674,000 after buying an additional 68,961 shares during the last quarter. State Street Corp boosted its position in shares of Marten Transport by 12.7% in the fourth quarter. State Street Corp now owns 609,214 shares of the transportation company’s stock valued at $14,193,000 after buying an additional 68,704 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Marten Transport by 4.5% in the first quarter. Bank of New York Mellon Corp now owns 1,148,132 shares of the transportation company’s stock valued at $26,923,000 after buying an additional 49,123 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of Marten Transport by 22.9% in the first quarter. Ameriprise Financial Inc. now owns 146,835 shares of the transportation company’s stock valued at $3,443,000 after buying an additional 27,375 shares during the last quarter. Institutional investors own 40.66% of the company’s stock.

Shares of Marten Transport, Ltd. (NASDAQ MRTN) opened at 16.35 on Thursday. The firm’s 50 day moving average is $16.30 and its 200 day moving average is $14.97. Marten Transport, Ltd. has a 52-week low of $11.22 and a 52-week high of $17.90. The stock has a market capitalization of $891.30 million, a price-to-earnings ratio of 26.29 and a beta of 1.27.

Marten Transport (NASDAQ:MRTN) last announced its quarterly earnings data on Thursday, July 20th. The transportation company reported $0.17 EPS for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.02. Marten Transport had a return on equity of 7.72% and a net margin of 4.96%. The business had revenue of $171.51 million during the quarter, compared to the consensus estimate of $176.08 million. During the same period in the previous year, the company posted $0.26 earnings per share. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. Equities analysts expect that Marten Transport, Ltd. will post $0.63 earnings per share for the current year.

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MRTN has been the topic of several recent research reports. Zacks Investment Research cut shares of Marten Transport from a “hold” rating to a “sell” rating in a report on Wednesday, June 21st. ValuEngine raised shares of Marten Transport from a “hold” rating to a “buy” rating in a research report on Tuesday, July 11th. Stifel Nicolaus increased their price target on shares of Marten Transport from $13.20 to $15.00 and gave the company a “hold” rating in a research report on Tuesday, April 25th. Finally, BidaskClub lowered shares of Marten Transport from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Marten Transport presently has an average rating of “Hold” and an average price target of $17.00.

In other news, Chairman Randolph L. Marten sold 50,000 shares of the business’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $25.51, for a total transaction of $1,275,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John H. Turner sold 4,000 shares of the business’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $25.59, for a total value of $102,360.00. The disclosure for this sale can be found here. Insiders own 23.00% of the company’s stock.

About Marten Transport

Marten Transport, Ltd. is a temperature-sensitive truckload carrier. The Company focuses on 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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Institutional Ownership by Quarter for Marten Transport (NASDAQ:MRTN)

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