Insider Selling: Marten Transport VP Unloads 1,211 Shares of Stock (MRTN)
Marten Transport (NASDAQ:MRTN) VP John H. Turner sold 1,211 shares of the company’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $25.00, for a total value of $30,275.00. Following the completion of the sale, the vice president now directly owns 18,940 shares of the company’s stock, valued at approximately $473,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Marten Transport (NASDAQ:MRTN) opened at 23.99 on Wednesday. Marten Transport has a 52 week low of $14.87 and a 52 week high of $25.71. The stock’s 50-day moving average is $23.43 and its 200-day moving average is $20.87. The company has a market cap of $800.2 million and a price-to-earnings ratio of 28.56.
Marten Transport (NASDAQ:MRTN) last released its earnings data on Tuesday, April 15th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by $0.03. The company had revenue of $159.40 million for the quarter, compared to the consensus estimate of $162.06 million. During the same quarter in the previous year, the company posted $0.32 earnings per share. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. Analysts expect that Marten Transport will post $1.06 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, June 30th. Shareholders of record on Monday, June 16th will be given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend is Thursday, June 12th.
A number of research firms have recently commented on MRTN. Analysts at KeyCorp reiterated a “buy” rating on shares of Marten Transport in a research note on Friday, May 23rd. They now have a $26.00 price target on the stock, up previously from $23.00. Separately, analysts at Stephens upgraded shares of Marten Transport from an “equal weight” rating to an “overweight” rating in a research note on Monday, April 21st. Finally, analysts at Wunderlich raised their price target on shares of Marten Transport from $23.00 to $25.00 in a research note on Wednesday, April 16th. They now have a “buy” rating on the stock. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $22.55.
Marten Transport, Ltd. is a temperature-sensitive truckload carrier. The Company specializes in transporting and distributing food and other consumer packaged goods that require a temperature-controlled or insulated environment.
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