Spark Investment Management LLC Has $1.07 Million Stake in Spartan Motors, Inc. (NASDAQ:SPAR)
Spark Investment Management LLC lowered its stake in Spartan Motors, Inc. (NASDAQ:SPAR) by 29.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 120,600 shares of the company’s stock after selling 50,700 shares during the period. Spark Investment Management LLC’s holdings in Spartan Motors were worth $1,067,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the company. ClariVest Asset Management LLC acquired a new position in shares of Spartan Motors during the first quarter valued at about $101,000. Airain ltd acquired a new position in shares of Spartan Motors during the first quarter valued at about $114,000. TFS Capital LLC acquired a new position in shares of Spartan Motors during the first quarter valued at about $123,000. Eqis Capital Management Inc. increased its position in shares of Spartan Motors by 46.7% in the first quarter. Eqis Capital Management Inc. now owns 15,358 shares of the company’s stock valued at $123,000 after buying an additional 4,888 shares in the last quarter. Finally, MARSHALL WACE ASIA Ltd acquired a new position in shares of Spartan Motors during the first quarter valued at about $145,000. Institutional investors and hedge funds own 65.08% of the company’s stock.
Shares of Spartan Motors, Inc. (NASDAQ SPAR) opened at 9.00 on Thursday. The firm has a 50-day moving average price of $8.87 and a 200-day moving average price of $8.26. Spartan Motors, Inc. has a 52-week low of $6.30 and a 52-week high of $10.50. The firm has a market capitalization of $316.13 million, a P/E ratio of 84.11 and a beta of 1.11.
Spartan Motors (NASDAQ:SPAR) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. The business had revenue of $169.70 million during the quarter, compared to analyst estimates of $167.83 million. Spartan Motors had a net margin of 0.59% and a return on equity of 5.57%. Spartan Motors’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.19 earnings per share. On average, equities research analysts anticipate that Spartan Motors, Inc. will post $0.50 EPS for the current year.
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SPAR has been the subject of several analyst reports. TheStreet upgraded Spartan Motors from a “c” rating to a “b-” rating in a research report on Monday, May 15th. Zacks Investment Research upgraded Spartan Motors from a “hold” rating to a “buy” rating and set a $9.75 price objective for the company in a research report on Saturday, May 6th. Roth Capital set a $12.00 price objective on Spartan Motors and gave the stock a “buy” rating in a research report on Tuesday, August 1st. Finally, BidaskClub downgraded Spartan Motors from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 27th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Spartan Motors presently has a consensus rating of “Buy” and an average price target of $10.67.
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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