Victory Capital Management Inc. Sells 31,623 Shares of Marten Transport, Ltd. (NASDAQ:MRTN)

Victory Capital Management Inc. reduced its position in shares of Marten Transport, Ltd. (NASDAQ:MRTN) by 0.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,048,367 shares of the transportation company’s stock after selling 31,623 shares during the quarter. Victory Capital Management Inc.’s holdings in Marten Transport were worth $71,656,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. BNP Paribas Financial Markets lifted its position in Marten Transport by 5.3% during the 1st quarter. BNP Paribas Financial Markets now owns 92,704 shares of the transportation company’s stock worth $1,713,000 after acquiring an additional 4,658 shares during the period. Texas Permanent School Fund Corp grew its position in shares of Marten Transport by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 50,526 shares of the transportation company’s stock valued at $934,000 after purchasing an additional 657 shares in the last quarter. Quantbot Technologies LP grew its position in shares of Marten Transport by 1,966.7% in the first quarter. Quantbot Technologies LP now owns 24,015 shares of the transportation company’s stock valued at $444,000 after purchasing an additional 22,853 shares in the last quarter. Illinois Municipal Retirement Fund lifted its holdings in Marten Transport by 2.0% in the first quarter. Illinois Municipal Retirement Fund now owns 33,282 shares of the transportation company’s stock valued at $615,000 after acquiring an additional 665 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in Marten Transport by 7.4% in the first quarter. Russell Investments Group Ltd. now owns 35,576 shares of the transportation company’s stock valued at $657,000 after acquiring an additional 2,446 shares during the last quarter. 69.12% of the stock is currently owned by hedge funds and other institutional investors.

Marten Transport Trading Down 1.5 %

MRTN stock opened at $17.67 on Thursday. The firm has a 50 day moving average of $16.87 and a 200-day moving average of $17.39. Marten Transport, Ltd. has a 12-month low of $15.33 and a 12-month high of $21.38. The company has a market cap of $1.44 billion, a price-to-earnings ratio of 42.07 and a beta of 0.79.

Marten Transport (NASDAQ:MRTN) last issued its quarterly earnings data on Thursday, October 17th. The transportation company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). The business had revenue of $237.37 million for the quarter, compared to analysts’ expectations of $244.00 million. Marten Transport had a return on equity of 4.41% and a net margin of 3.36%. Sell-side analysts forecast that Marten Transport, Ltd. will post 0.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. StockNews.com cut Marten Transport from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Raymond James lowered Marten Transport from an “outperform” rating to a “market perform” rating in a report on Monday, October 14th.

Insiders Place Their Bets

In related news, Director Jerry M. Bauer acquired 10,000 shares of the stock in a transaction dated Wednesday, October 30th. The stock was bought at an average cost of $15.81 per share, with a total value of $158,100.00. Following the purchase, the director now directly owns 156,444 shares of the company’s stock, valued at approximately $2,473,379.64. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 22.90% of the stock is owned by corporate insiders.

About Marten Transport

Marten Transport, Ltd. operates as a temperature-sensitive truckload carrier for shippers in the United State, Mexico, and Canada. The company 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, as well as dry freight; and regional short-haul and medium-to-long-haul full-load transportation services.