Dimensional Fund Advisors LP increased its position in Spartan Motors, Inc. (NASDAQ:SPAR) by 2.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,890,436 shares of the company’s stock after buying an additional 78,188 shares during the period. Dimensional Fund Advisors LP owned approximately 8.41% of Spartan Motors worth $23,123,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. ClariVest Asset Management LLC bought a new stake in shares of Spartan Motors during the first quarter worth approximately $101,000. Airain ltd bought a new stake in shares of Spartan Motors during the first quarter worth approximately $114,000. TFS Capital LLC acquired a new position in shares of Spartan Motors during the first quarter valued at about $123,000. Eqis Capital Management Inc. raised its position in shares of Spartan Motors by 46.7% in the first quarter. Eqis Capital Management Inc. now owns 15,358 shares of the company’s stock valued at $123,000 after buying an additional 4,888 shares during the period. Finally, MARSHALL WACE ASIA Ltd acquired a new position in shares of Spartan Motors during the first quarter valued at about $145,000. 64.72% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Spartan Motors, Inc. (NASDAQ:SPAR) traded up 1.73% during mid-day trading on Friday, reaching $8.80. 117,752 shares of the company’s stock traded hands. The company has a 50 day moving average of $8.90 and a 200 day moving average of $8.26. Spartan Motors, Inc. has a 12 month low of $6.30 and a 12 month high of $10.50. The company has a market cap of $308.82 million, a price-to-earnings ratio of 82.24 and a beta of 1.11.
Several brokerages have recently issued reports on SPAR. Zacks Investment Research lowered shares of Spartan Motors from a “buy” rating to a “hold” rating in a research note on Tuesday, May 9th. TheStreet raised shares of Spartan Motors from a “c” rating to a “b-” rating in a research note on Monday, May 15th. BidaskClub lowered shares of Spartan Motors from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 27th. Finally, Roth Capital set a $12.00 price objective on shares of Spartan Motors and gave the stock a “buy” rating in a research note on Tuesday, August 1st. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $10.67.
Spartan Motors Company Profile
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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