Spartan Motors Inc (NASDAQ:SPAR) Sees Significant Increase in Short Interest

Spartan Motors Inc (NASDAQ:SPAR) was the target of a large increase in short interest in December. As of December 31st, there was short interest totalling 490,100 shares, an increase of 9.0% from the December 15th total of 449,500 shares. Based on an average trading volume of 280,700 shares, the days-to-cover ratio is currently 1.7 days. Currently, 1.6% of the company’s stock are short sold.

In other Spartan Motors news, CEO Daryl M. Adams sold 12,500 shares of Spartan Motors stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $17.57, for a total transaction of $219,625.00. Following the sale, the chief executive officer now directly owns 589,675 shares of the company’s stock, valued at approximately $10,360,589.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 37,500 shares of company stock worth $675,000. Insiders own 3.78% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System lifted its position in Spartan Motors by 1.7% in the 3rd quarter. California State Teachers Retirement System now owns 53,470 shares of the company’s stock valued at $734,000 after acquiring an additional 906 shares in the last quarter. Barclays PLC lifted its position in Spartan Motors by 4.2% in the 3rd quarter. Barclays PLC now owns 23,062 shares of the company’s stock valued at $317,000 after acquiring an additional 939 shares in the last quarter. Rhumbline Advisers lifted its position in Spartan Motors by 2.0% in the 3rd quarter. Rhumbline Advisers now owns 49,080 shares of the company’s stock valued at $673,000 after acquiring an additional 977 shares in the last quarter. Kirr Marbach & Co. LLC IN lifted its position in Spartan Motors by 0.5% in the 3rd quarter. Kirr Marbach & Co. LLC IN now owns 304,857 shares of the company’s stock valued at $4,183,000 after acquiring an additional 1,663 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY raised its stake in Spartan Motors by 18.6% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 11,843 shares of the company’s stock valued at $162,000 after buying an additional 1,857 shares during the last quarter. 72.11% of the stock is currently owned by institutional investors and hedge funds.

SPAR stock opened at $17.51 on Wednesday. The stock has a market capitalization of $608.09 million, a PE ratio of 36.48 and a beta of 1.45. Spartan Motors has a 12-month low of $7.82 and a 12-month high of $19.31. The company has a current ratio of 1.72, a quick ratio of 1.19 and a debt-to-equity ratio of 0.71. The stock’s 50 day simple moving average is $17.83 and its 200 day simple moving average is $14.60.

Spartan Motors (NASDAQ:SPAR) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.08. The business had revenue of $288.95 million for the quarter, compared to analysts’ expectations of $231.49 million. Spartan Motors had a return on equity of 11.81% and a net margin of 1.70%. The firm’s quarterly revenue was up 27.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.17 EPS. On average, research analysts predict that Spartan Motors will post 0.89 earnings per share for the current year.

The firm also recently disclosed a Semi-Annual dividend, which was paid on Monday, December 16th. Investors of record on Thursday, November 14th were given a $0.05 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. Spartan Motors’s dividend payout ratio (DPR) is presently 20.83%.

A number of analysts have recently commented on the company. ValuEngine cut Spartan Motors from a “sell” rating to a “strong sell” rating in a research report on Friday, January 3rd. Zacks Investment Research cut Spartan Motors from a “buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Sidoti boosted their price target on Spartan Motors from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. BidaskClub cut Spartan Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Finally, TheStreet raised Spartan Motors from a “c+” rating to a “b-” rating in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. Spartan Motors currently has an average rating of “Hold” and an average target price of $20.33.

About Spartan Motors

Spartan Motors, Inc, through its subsidiaries, engineers, manufactures, assembles, and sells specialty and heavy-duty 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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