Geode Capital Management LLC increased its position in shares of Spartan Motors Inc (NASDAQ:SPAR) by 13.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 283,420 shares of the company’s stock after buying an additional 34,527 shares during the period. Geode Capital Management LLC owned 0.82% of Spartan Motors worth $2,267,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Airain ltd bought a new position in shares of Spartan Motors during the first quarter worth $114,000. Marshall Wace North America L.P. bought a new position in shares of Spartan Motors during the first quarter worth $145,000. Algert Global LLC increased its position in shares of Spartan Motors by 19.2% in the first quarter. Algert Global LLC now owns 75,226 shares of the company’s stock worth $602,000 after buying an additional 12,110 shares during the last quarter. Segall Bryant & Hamill LLC bought a new position in shares of Spartan Motors during the first quarter worth $1,301,000. Finally, First Manhattan Co. increased its position in shares of Spartan Motors by 10.5% in the first quarter. First Manhattan Co. now owns 123,015 shares of the company’s stock worth $1,178,000 after buying an additional 11,700 shares during the last quarter. 64.72% of the stock is currently owned by institutional investors and hedge funds.

Shares of Spartan Motors Inc (NASDAQ SPAR) traded up 1.71% on Friday, hitting $8.90. The company had a trading volume of 110,524 shares. The firm has a 50 day moving average of $8.90 and a 200-day moving average of $8.28. Spartan Motors Inc has a 12-month low of $6.30 and a 12-month high of $10.50. The firm has a market capitalization of $312.33 million, a P/E ratio of 83.18 and a beta of 1.11.

Spartan Motors (NASDAQ:SPAR) last posted its earnings results on Thursday, August 3rd. The company reported $0.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.01. Spartan Motors had a net margin of 0.66% and a return on equity of 2.95%. The firm had revenue of $169.70 million for the quarter, compared to analysts’ expectations of $167.83 million. During the same quarter last year, the firm earned $0.19 EPS. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, equities analysts predict that Spartan Motors Inc will post $0.50 EPS for the current year.

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A number of research analysts recently weighed in on SPAR shares. Zacks Investment Research downgraded Spartan Motors from a “hold” rating to a “sell” rating in a research note on Wednesday, May 3rd. TheStreet raised Spartan Motors from a “c” rating to a “b-” rating in a research note on Monday, May 15th. Roth Capital set a $12.00 price objective on Spartan Motors and gave the company a “buy” rating in a research note on Tuesday, August 1st. Finally, BidaskClub downgraded Spartan Motors from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 27th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $10.58.

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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Institutional Ownership by Quarter for Spartan Motors (NASDAQ:SPAR)

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