Marten Transport, Ltd (MRTN) Position Reduced by First Mercantile Trust Co.
First Mercantile Trust Co. decreased its position in shares of Marten Transport, Ltd (NASDAQ:MRTN) by 12.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,020 shares of the transportation company’s stock after selling 2,715 shares during the period. First Mercantile Trust Co.’s holdings in Marten Transport were worth $386,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Sei Investments Co. raised its holdings in Marten Transport by 109.8% during the third quarter. Sei Investments Co. now owns 6,198 shares of the transportation company’s stock worth $127,000 after purchasing an additional 3,244 shares in the last quarter. First Republic Investment Management Inc. bought a new stake in Marten Transport during the third quarter worth approximately $229,000. Stevens Capital Management LP bought a new stake in Marten Transport during the third quarter worth approximately $231,000. First Allied Advisory Services Inc. bought a new stake in Marten Transport during the third quarter worth approximately $237,000. Finally, 1st Global Advisors Inc. raised its holdings in Marten Transport by 68.6% during the second quarter. 1st Global Advisors Inc. now owns 16,922 shares of the transportation company’s stock worth $278,000 after purchasing an additional 6,886 shares in the last quarter. 68.60% of the stock is currently owned by hedge funds and other institutional investors.
Marten Transport, Ltd (NASDAQ:MRTN) opened at $21.55 on Monday. The stock has a market cap of $1,175.20, a P/E ratio of 34.76 and a beta of 1.38. Marten Transport, Ltd has a 12-month low of $12.99 and a 12-month high of $29.60.
Several brokerages recently commented on MRTN. Zacks Investment Research cut Marten Transport from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. BidaskClub raised Marten Transport from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Seaport Global Securities raised Marten Transport from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Friday, January 26th. Finally, Stephens reissued a “buy” rating and set a $25.00 target price on shares of Marten Transport in a report on Wednesday, January 10th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $23.50.
In other Marten Transport news, Director Larry B. Hagness sold 12,000 shares of Marten Transport stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $23.39, for a total value of $280,680.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 23.00% of the company’s stock.
About Marten Transport
Marten Transport, Ltd. is a temperature-sensitive truckload carrier. The Company focuses on transporting and distributing food and other consumer-packaged goods that require a temperature-controlled or insulated environment. The Company operates through four segments: Truckload, Dedicated, Intermodal and Brokerage.
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