Essex Investment Management Co. LLC increased its stake in Manitex International, Inc. (NASDAQ:MNTX) by 37.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 237,669 shares of the industrial products company’s stock after buying an additional 64,445 shares during the period. Essex Investment Management Co. LLC owned approximately 1.44% of Manitex International worth $1,659,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC acquired a new position in Manitex International during the second quarter valued at about $105,000. KCG Holdings Inc. acquired a new position in Manitex International during the first quarter valued at about $114,000. Segantii Capital Management Ltd acquired a new position in Manitex International during the first quarter valued at about $126,000. EAM Investors LLC purchased a new stake in Manitex International during the first quarter valued at $393,000. Finally, Shaker Investments LLC OH raised its stake in Manitex International by 82.4% in the first quarter. Shaker Investments LLC OH now owns 98,300 shares of the industrial products company’s stock valued at $659,000 after buying an additional 44,400 shares during the period. Institutional investors and hedge funds own 67.58% of the company’s stock.
Shares of Manitex International, Inc. (NASDAQ MNTX) opened at 8.33 on Friday. The company’s 50 day moving average price is $7.46 and its 200-day moving average price is $7.38. Manitex International, Inc. has a 1-year low of $4.98 and a 1-year high of $9.89. The firm’s market cap is $137.91 million.
Manitex International (NASDAQ:MNTX) last issued its earnings results on Thursday, August 3rd. The industrial products company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.08. Manitex International had a positive return on equity of 2.50% and a negative net margin of 15.69%. The firm had revenue of $51.60 million for the quarter, compared to the consensus estimate of $44.35 million. During the same quarter in the previous year, the company posted $0.02 earnings per share. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. Equities analysts expect that Manitex International, Inc. will post $0.19 EPS for the current fiscal year.
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Several analysts have weighed in on MNTX shares. Zacks Investment Research lowered Manitex International from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 10th. ValuEngine lowered Manitex International from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Finally, Roth Capital set a $10.00 target price on Manitex International and gave the company a “buy” rating in a report on Thursday, June 8th.
Manitex International Company Profile
Manitex International, Inc is a provider of engineered specialty lifting and loading products. The Company operates in three business segments: the Lifting Equipment segment, the A.S.V., LLC (ASV) segment and the Equipment Distribution segment. Through its Lifting Equipment segment, the Company designs, manufactures and distributes a diverse group of products that serve various functions and are used in a range of industries.
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