Alps Advisors Inc. Cuts Position in Marten Transport, Ltd (MRTN)

Alps Advisors Inc. reduced its stake in Marten Transport, Ltd (NASDAQ:MRTN) by 19.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 22,375 shares of the transportation company’s stock after selling 5,392 shares during the quarter. Alps Advisors Inc.’s holdings in Marten Transport were worth $471,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of MRTN. Piedmont Investment Advisors LLC bought a new stake in Marten Transport in the 2nd quarter valued at $212,000. Atria Investments LLC bought a new stake in Marten Transport in the 2nd quarter valued at $220,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Marten Transport in the 2nd quarter valued at $228,000. Sawgrass Asset Management LLC lifted its position in Marten Transport by 31.8% in the 2nd quarter. Sawgrass Asset Management LLC now owns 12,920 shares of the transportation company’s stock valued at $303,000 after acquiring an additional 3,120 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in Marten Transport in the 2nd quarter valued at $304,000. 71.25% of the stock is currently owned by institutional investors and hedge funds.

Shares of MRTN stock opened at $19.79 on Friday. Marten Transport, Ltd has a 1 year low of $18.07 and a 1 year high of $29.60. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 31.92 and a beta of 1.40.

Marten Transport (NASDAQ:MRTN) last issued its quarterly earnings results on Tuesday, October 16th. The transportation company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.02. Marten Transport had a net margin of 13.62% and a return on equity of 8.81%. The firm had revenue of $199.60 million for the quarter, compared to analyst estimates of $203.10 million. During the same period in the previous year, the business earned $0.14 EPS. The company’s revenue was up 16.9% compared to the same quarter last year. Equities research analysts anticipate that Marten Transport, Ltd will post 0.99 earnings per share for the current fiscal year.

Several research firms recently commented on MRTN. BidaskClub raised shares of Marten Transport from a “sell” rating to a “hold” rating in a research report on Friday, September 14th. Stifel Nicolaus raised shares of Marten Transport from a “sell” rating to a “hold” rating and set a $21.00 price objective on the stock in a research report on Wednesday, August 29th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Marten Transport from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research report on Friday, October 19th. Stephens set a $22.00 price objective on shares of Marten Transport and gave the company a “hold” rating in a research report on Wednesday, October 17th. Finally, ValuEngine cut shares of Marten Transport from a “buy” rating to a “hold” rating in a research report on Saturday, September 22nd. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $23.75.

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About Marten Transport

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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Institutional Ownership by Quarter for Marten Transport (NASDAQ:MRTN)

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