Spartan Motors Inc (SPAR) Position Reduced by Ariel Investments LLC
Ariel Investments LLC trimmed its holdings in shares of Spartan Motors Inc (NASDAQ:SPAR) by 89.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 33,404 shares of the company’s stock after selling 274,744 shares during the period. Ariel Investments LLC’s holdings in Spartan Motors were worth $504,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of SPAR. 12th Street Asset Management Company LLC purchased a new position in shares of Spartan Motors in the 1st quarter worth about $6,949,000. Lord Abbett & CO. LLC purchased a new position in shares of Spartan Motors in the 1st quarter worth about $6,031,000. Summit Creek Advisors LLC boosted its holdings in shares of Spartan Motors by 88.9% in the 2nd quarter. Summit Creek Advisors LLC now owns 600,677 shares of the company’s stock worth $9,070,000 after purchasing an additional 282,723 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Spartan Motors by 50.3% in the 2nd quarter. Fuller & Thaler Asset Management Inc. now owns 631,730 shares of the company’s stock worth $9,539,000 after purchasing an additional 211,526 shares in the last quarter. Finally, GW&K Investment Management LLC boosted its holdings in shares of Spartan Motors by 56.5% in the 1st quarter. GW&K Investment Management LLC now owns 470,460 shares of the company’s stock worth $8,092,000 after purchasing an additional 169,839 shares in the last quarter. Institutional investors and hedge funds own 67.82% of the company’s stock.
A number of equities analysts have recently issued reports on the company. ValuEngine cut Spartan Motors from a “buy” rating to a “hold” rating in a report on Friday, August 10th. BidaskClub lowered Spartan Motors from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 26th. Finally, Zacks Investment Research lowered Spartan Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, May 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $19.67.
Spartan Motors (NASDAQ:SPAR) last released its earnings results on Thursday, August 2nd. The company reported $0.12 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.12. Spartan Motors had a return on equity of 10.84% and a net margin of 3.28%. The company had revenue of $183.98 million during the quarter, compared to analyst estimates of $190.85 million. During the same quarter in the previous year, the company posted $0.07 EPS. Spartan Motors’s revenue for the quarter was up 8.4% on a year-over-year basis. equities research analysts forecast that Spartan Motors Inc will post 0.64 earnings per share for the current year.
In other Spartan Motors news, insider Thomas C. Schultz sold 18,380 shares of the company’s stock in a transaction that occurred on Monday, June 11th. The stock was sold at an average price of $16.17, for a total transaction of $297,204.60. Following the completion of the transaction, the insider now owns 153,388 shares of the company’s stock, valued at approximately $2,480,283.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Frederick J. Sohm sold 16,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 12th. The shares were sold at an average price of $15.97, for a total value of $255,520.00. Following the transaction, the chief financial officer now directly owns 151,755 shares of the company’s stock, valued at approximately $2,423,527.35. The disclosure for this sale can be found here. In the last three months, insiders sold 49,799 shares of company stock valued at $804,367. 4.22% of the stock is currently owned by corporate insiders.
About Spartan Motors
Spartan Motors, Inc, through its subsidiaries, engineers, manufactures, and sells heavy-duty and purpose-built specialty vehicles in the United States, Canada, South America, and Asia. It operates through three segments: Fleet Vehicles and Services, Emergency Response Vehicles, and Specialty Chassis and Vehicles.
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