Marten Transport, Ltd (NASDAQ:MRTN) Sees Significant Growth in Short Interest
Marten Transport, Ltd (NASDAQ:MRTN) was the target of a large increase in short interest in the month of June. As of June 30th, there was short interest totalling 988,600 shares, an increase of 45.1% from the May 30th total of 681,200 shares. Based on an average trading volume of 177,900 shares, the short-interest ratio is currently 5.6 days. Currently, 2.6% of the shares of the company are short sold.
NASDAQ MRTN traded up $0.61 on Friday, reaching $18.38. The stock had a trading volume of 188,569 shares, compared to its average volume of 182,804. The stock’s fifty day moving average is $17.99. Marten Transport has a 1-year low of $15.39 and a 1-year high of $24.10. The stock has a market capitalization of $970.42 million, a P/E ratio of 18.38 and a beta of 1.51.
Marten Transport (NASDAQ:MRTN) last issued its quarterly earnings data on Tuesday, April 16th. The transportation company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. Marten Transport had a return on equity of 10.23% and a net margin of 7.28%. The firm had revenue of $199.00 million for the quarter, compared to analyst estimates of $196.60 million. During the same period in the prior year, the firm posted $0.19 EPS. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. As a group, equities analysts forecast that Marten Transport will post 1.11 earnings per share for the current fiscal year.
A number of equities research analysts recently weighed in on the company. BidaskClub upgraded Zai Lab from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 28th. Zacks Investment Research reaffirmed a “hold” rating on shares of Western New England Bancorp in a report on Saturday, June 29th. Stephens set a $112.00 price objective on Genesee & Wyoming and gave the company a “hold” rating in a report on Monday, July 1st. Finally, Stifel Nicolaus set a $80.00 price objective on CSX and gave the company a “hold” rating in a report on Wednesday, April 17th. Five investment analysts have rated the stock with a hold rating, The company presently has an average rating of “Hold” and a consensus target price of $20.33.
In related news, Director Thomas J. Winkel sold 6,250 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $20.41, for a total value of $127,562.50. Following the sale, the director now owns 28,241 shares in the company, valued at approximately $576,398.81. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 23.00% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Campbell & CO Investment Adviser LLC acquired a new stake in Marten Transport in the second quarter valued at approximately $388,000. WINTON GROUP Ltd acquired a new stake in Marten Transport in the second quarter valued at approximately $211,000. First Trust Advisors LP grew its stake in Marten Transport by 164.4% in the first quarter. First Trust Advisors LP now owns 68,672 shares of the transportation company’s stock valued at $1,224,000 after acquiring an additional 42,699 shares during the period. FMR LLC grew its stake in Marten Transport by 149.8% in the first quarter. FMR LLC now owns 917,248 shares of the transportation company’s stock valued at $16,354,000 after acquiring an additional 550,088 shares during the period. Finally, Princeton Global Asset Management LLC acquired a new stake in Marten Transport in the first quarter valued at approximately $35,000. 69.65% of the stock is currently owned by hedge funds and other institutional investors.
Marten Transport Company Profile
Marten Transport, Ltd. operates as a temperature-sensitive truckload carrier for shippers in the United States, Canada, and Mexico. It operates through four segments: Truckload, Dedicated, Intermodal, and Brokerage. The Truckload segment transports food and other consumer packaged goods that require a temperature-controlled or insulated environment.
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