Wells Fargo & Company MN raised its stake in Spartan Motors, Inc. (NASDAQ:SPAR) by 202.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 66,435 shares of the company’s stock after buying an additional 44,453 shares during the period. Wells Fargo & Company MN owned approximately 0.19% of Spartan Motors worth $531,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of SPAR. New Jersey Better Educational Savings Trust purchased a new position in Spartan Motors during the first quarter valued at approximately $400,000. Mesirow Financial Investment Management Equity Management bought a new stake in shares of Spartan Motors during the first quarter valued at about $374,000. First Manhattan Co. boosted its stake in shares of Spartan Motors by 10.5% in the first quarter. First Manhattan Co. now owns 123,015 shares of the company’s stock valued at $1,178,000 after buying an additional 11,700 shares during the last quarter. Nationwide Fund Advisors boosted its stake in shares of Spartan Motors by 132.1% in the first quarter. Nationwide Fund Advisors now owns 214,572 shares of the company’s stock valued at $1,717,000 after buying an additional 122,117 shares during the last quarter. Finally, Highbridge Capital Management LLC bought a new stake in shares of Spartan Motors during the fourth quarter valued at about $246,000. Institutional investors own 65.25% of the company’s stock.
Shares of Spartan Motors, Inc. (NASDAQ SPAR) remained flat at $9.20 during midday trading on Friday. The company had a trading volume of 116,952 shares. Spartan Motors, Inc. has a 52-week low of $6.30 and a 52-week high of $10.50. The stock has a market capitalization of $323.16 million, a P/E ratio of 85.98 and a beta of 1.11. The firm’s 50 day moving average is $8.75 and its 200 day moving average is $8.22.
Spartan Motors (NASDAQ:SPAR) last announced its earnings results on Thursday, August 3rd. The company reported $0.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.01. Spartan Motors had a net margin of 0.59% and a return on equity of 5.57%. The company had revenue of $169.70 million during the quarter, compared to the consensus estimate of $167.83 million. During the same period in the previous year, the firm posted $0.19 earnings per share. The company’s revenue was up 4.4% on a year-over-year basis. On average, equities analysts anticipate that Spartan Motors, Inc. will post $0.50 earnings per share for the current year.
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A number of analysts have weighed in on SPAR shares. Zacks Investment Research cut Spartan Motors from a “hold” rating to a “sell” rating in a research note on Wednesday, May 3rd. TheStreet upgraded Spartan Motors from a “c” rating to a “b-” rating in a research report on Monday, May 15th. Roth Capital set a $12.00 target price on Spartan Motors and gave the stock a “buy” rating in a research report on Tuesday, August 1st. Finally, BidaskClub cut Spartan Motors from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 27th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $10.67.
In other Spartan Motors news, Director Richard R. Current purchased 5,141 shares of the company’s stock in a transaction that occurred on Wednesday, May 10th. The stock was acquired at an average cost of $9.00 per share, with a total value of $46,269.00. Following the completion of the purchase, the director now directly owns 90,000 shares in the company, valued at approximately $810,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Frederick J. Sohm purchased 5,000 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The shares were acquired at an average cost of $8.94 per share, with a total value of $44,700.00. Following the completion of the purchase, the chief financial officer now owns 157,327 shares of the company’s stock, valued at $1,406,503.38. The disclosure for this purchase can be found here. Insiders own 3.72% of the company’s stock.
Spartan Motors Company 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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