California State Teachers Retirement System purchased a new stake in shares of Spartan Motors Inc. (NASDAQ:SPAR) during the second quarter, Holdings Channel reports. The fund purchased 69,737 shares of the company’s stock, valued at approximately $437,000. California State Teachers Retirement System owned approximately 0.20% of Spartan Motors as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. Royce & Associates LP boosted its position in shares of Spartan Motors by 6.3% in the first quarter. Royce & Associates LP now owns 1,841,479 shares of the company’s stock valued at $7,274,000 after buying an additional 108,417 shares in the last quarter. Spark Investment Management LLC boosted its position in shares of Spartan Motors by 42.7% in the first quarter. Spark Investment Management LLC now owns 63,200 shares of the company’s stock valued at $249,000 after buying an additional 18,900 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Spartan Motors by 80.2% in the first quarter. Renaissance Technologies LLC now owns 184,200 shares of the company’s stock valued at $728,000 after buying an additional 82,000 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Spartan Motors during the second quarter valued at about $1,457,000. Finally, Smith Asset Management Group LP bought a new position in shares of Spartan Motors during the second quarter valued at about $122,000. Institutional investors own 65.77% of the company’s stock.
Spartan Motors Inc. (NASDAQ:SPAR) traded up 0.64% during midday trading on Wednesday, reaching $9.48. 30,193 shares of the company traded hands. The stock’s market capitalization is $326.41 million. Spartan Motors Inc. has a one year low of $2.61 and a one year high of $10.50. The company has a 50 day moving average price of $9.51 and a 200-day moving average price of $7.15.
Spartan Motors (NASDAQ:SPAR) last released its earnings results on Thursday, August 4th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.11. The firm earned $162.50 million during the quarter, compared to analyst estimates of $152.65 million. Spartan Motors had a negative net margin of 1.80% and a positive return on equity of 1.49%. The business’s revenue was up 12.2% on a year-over-year basis. During the same quarter last year, the business earned $0.03 EPS. Analysts forecast that Spartan Motors Inc. will post $0.32 EPS for the current fiscal year.
Several equities research analysts recently commented on SPAR shares. Craig Hallum started coverage on shares of Spartan Motors in a research note on Tuesday, July 26th. They set a “buy” rating on the stock. Zacks Investment Research lowered shares of Spartan Motors from a “buy” rating to a “hold” rating in a research note on Saturday, July 30th.
In other news, Director Kenneth Kaczmarek sold 3,909 shares of the firm’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $9.08, for a total value of $35,493.72. Following the completion of the sale, the director now owns 76,883 shares in the company, valued at approximately $698,097.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.59% of the stock is currently owned by insiders.
About Spartan Motors
Spartan Motors, Inc is an engineer and manufacturer in the heavy-duty, custom vehicles marketplace. The Company operates through three segments: Emergency Response Vehicles, Delivery and Service Vehicles, and Specialty Chassis and Vehicles. The Company’s Emergency Response Vehicles segment engineers and manufactures emergency response chassis, emergency response bodies and aerial equipment.
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