SPAR Group Inc (NASDAQ:SGRP) Sees Large Drop in Short Interest

SPAR Group Inc (NASDAQ:SGRP) was the recipient of a significant decrease in short interest in January. As of January 31st, there was short interest totalling 17,900 shares, a decrease of 25.1% from the January 15th total of 23,900 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average trading volume of 69,400 shares, the days-to-cover ratio is presently 0.3 days.

In other news, insider Kori Belzer sold 30,400 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $1.20, for a total transaction of $36,480.00. Following the transaction, the insider now owns 60,906 shares in the company, valued at $73,087.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO James R. Segreto sold 34,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $1.30, for a total transaction of $44,200.00. Following the transaction, the chief financial officer now owns 44,001 shares in the company, valued at approximately $57,201.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 109,484 shares of company stock worth $136,472. Corporate insiders own 62.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC purchased a new stake in SPAR Group in the fourth quarter valued at approximately $25,000. Smith Chas P & Associates PA Cpas purchased a new stake in SPAR Group in the third quarter valued at approximately $50,000. Finally, Renaissance Technologies LLC boosted its position in SPAR Group by 125.7% in the fourth quarter. Renaissance Technologies LLC now owns 94,800 shares of the business services provider’s stock valued at $123,000 after buying an additional 52,800 shares during the last quarter. Hedge funds and other institutional investors own 6.12% of the company’s stock.

Separately, ValuEngine downgraded shares of SPAR Group from a “sell” rating to a “strong sell” rating in a report on Thursday, November 14th.

Shares of SGRP traded down $0.02 during mid-day trading on Friday, hitting $1.24. 3,822 shares of the company traded hands, compared to its average volume of 56,200. SPAR Group has a 1-year low of $0.55 and a 1-year high of $1.38. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $25.95 million, a PE ratio of 11.68 and a beta of 0.39. The business has a 50 day moving average of $1.20 and a 200 day moving average of $1.10.

SPAR Group (NASDAQ:SGRP) last issued its earnings results on Wednesday, November 13th. The business services provider reported $0.04 EPS for the quarter. The firm had revenue of $66.44 million for the quarter. SPAR Group had a return on equity of 13.05% and a net margin of 1.01%.

About SPAR Group

SPAR Group, Inc, together with its subsidiaries, provides merchandising and marketing services worldwide. The company offers syndicated services, such as product reordering and replenishment; ensuring its products for distribution; adding new products; implementing store planogram schematics; setting product category shelves; ensuring that product shelf tags are in place; checking for salability of the clients' products; placing new product and promotional items in prominent positions; and kiosk replenishment and maintenance services for retailers, manufacturers, and distributors.

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