Silver Capital Management LLC Invests $1.37 Million in Spartan Motors, Inc. (SPAR) Stock
Silver Capital Management LLC bought a new position in shares of Spartan Motors, Inc. (NASDAQ:SPAR) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 124,109 shares of the company’s stock, valued at approximately $1,371,000. Spartan Motors accounts for about 5.5% of Silver Capital Management LLC’s investment portfolio, making the stock its largest position. Silver Capital Management LLC owned approximately 0.35% of Spartan Motors at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. IndexIQ Advisors LLC grew its holdings in shares of Spartan Motors by 83.0% in the 3rd quarter. IndexIQ Advisors LLC now owns 108,342 shares of the company’s stock worth $1,197,000 after acquiring an additional 49,153 shares during the period. Monarch Partners Asset Management LLC acquired a new stake in shares of Spartan Motors in the 3rd quarter worth approximately $313,000. First Trust Advisors LP acquired a new stake in shares of Spartan Motors in the 3rd quarter worth approximately $1,378,000. Kirr Marbach & Co. LLC IN acquired a new stake in shares of Spartan Motors in the 3rd quarter worth approximately $557,000. Finally, Mesirow Financial Investment Management Inc. acquired a new stake in shares of Spartan Motors in the 2nd quarter worth approximately $477,000. Institutional investors own 67.18% of the company’s stock.
Shares of Spartan Motors, Inc. (SPAR) traded down $0.10 during trading hours on Monday, reaching $14.45. The company’s stock had a trading volume of 160,400 shares, compared to its average volume of 222,715. The firm has a market cap of $507.24, a PE ratio of 40.14, a PEG ratio of 2.35 and a beta of 1.23. The company has a current ratio of 1.70, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. Spartan Motors, Inc. has a 52-week low of $6.30 and a 52-week high of $17.20.
Spartan Motors (NASDAQ:SPAR) last announced its earnings results on Wednesday, November 1st. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.03). The company had revenue of $189.22 million for the quarter, compared to analyst estimates of $185.30 million. Spartan Motors had a net margin of 7.12% and a return on equity of 33.74%. Spartan Motors’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.10 EPS. equities analysts anticipate that Spartan Motors, Inc. will post 0.41 EPS for the current year.
The business also recently announced a Semi-Annual dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be issued a dividend of $0.05 per share. This represents a yield of 0.65%. The ex-dividend date of this dividend is Tuesday, November 14th. Spartan Motors’s dividend payout ratio (DPR) is presently 24.39%.
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A number of equities research analysts recently weighed in on the company. TheStreet upgraded Spartan Motors from a “c+” rating to a “b” rating in a report on Thursday, November 2nd. Zacks Investment Research cut Spartan Motors from a “buy” rating to a “hold” rating in a report on Saturday, November 4th. Roth Capital increased their target price on Spartan Motors from $12.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, October 17th. Finally, Craig Hallum set a $20.00 target price on Spartan Motors and gave the company a “buy” rating in a report on Friday, October 13th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $17.00.
Spartan Motors 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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