Bank of New York Mellon Corp reduced its position in Spartan Motors Inc (NASDAQ:SPAR) by 2.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 178,671 shares of the company’s stock after selling 4,439 shares during the quarter. Bank of New York Mellon Corp owned about 0.51% of Spartan Motors worth $2,697,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in SPAR. Lord Abbett & CO. LLC bought a new position in Spartan Motors in the 1st quarter valued at about $6,031,000. Summit Creek Advisors LLC increased its holdings in Spartan Motors by 88.9% in the 2nd quarter. Summit Creek Advisors LLC now owns 600,677 shares of the company’s stock valued at $9,070,000 after buying an additional 282,723 shares during the period. Allianz Asset Management GmbH increased its holdings in Spartan Motors by 35.0% in the 1st quarter. Allianz Asset Management GmbH now owns 289,328 shares of the company’s stock valued at $4,976,000 after buying an additional 75,085 shares during the period. Bank of Montreal Can increased its holdings in Spartan Motors by 508.9% in the 2nd quarter. Bank of Montreal Can now owns 82,328 shares of the company’s stock valued at $1,243,000 after buying an additional 68,808 shares during the period. Finally, Wesbanco Bank Inc. bought a new position in Spartan Motors in the 1st quarter valued at about $1,109,000. 67.67% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have commented on SPAR shares. BidaskClub lowered shares of Spartan Motors from a “sell” rating to a “strong sell” rating in a report on Thursday, July 26th. ValuEngine lowered shares of Spartan Motors from a “buy” rating to a “hold” rating in a report on Friday, August 10th. Finally, Zacks Investment Research lowered shares of Spartan Motors from a “buy” rating to a “hold” rating in a report on Thursday, October 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $19.67.
Spartan Motors (NASDAQ:SPAR) last announced its quarterly earnings results on Thursday, August 2nd. The company reported $0.12 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.12. The company had revenue of $183.98 million for the quarter, compared to analyst estimates of $190.85 million. Spartan Motors had a net margin of 3.28% and a return on equity of 10.84%. The firm’s revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.07 EPS. Equities research analysts forecast that Spartan Motors Inc will post 0.64 earnings per share for the current fiscal year.
In related news, insider Stephen K. Guillaume sold 4,144 shares of Spartan Motors stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $15.23, for a total transaction of $63,113.12. Following the sale, the insider now directly owns 63,429 shares of the company’s stock, valued at approximately $966,023.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.22% of the company’s stock.
Spartan Motors Company Profile
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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