Marten Transport, Ltd (NASDAQ:MRTN) Short Interest Up 45.1% in June

Marten Transport, Ltd (NASDAQ:MRTN) saw a significant growth in short interest in the month of June. As of June 30th, there was short interest totalling 988,600 shares, a growth of 45.1% from the May 30th total of 681,200 shares. Based on an average daily volume of 177,900 shares, the days-to-cover ratio is currently 5.6 days. Approximately 2.6% of the company’s shares are short sold.

MRTN has been the topic of several research analyst reports. Zacks Investment Research reiterated a “hold” rating on shares of Western New England Bancorp in a report on Saturday, June 29th. BidaskClub upgraded Zai Lab from a “buy” rating to a “strong-buy” rating in a report on Friday, June 28th. Stephens set a $112.00 price objective on Genesee & Wyoming and gave the company a “hold” rating in a report on Monday, July 1st. Finally, Stifel Nicolaus set a $80.00 price objective on CSX and gave the company a “hold” rating in a report on Wednesday, April 17th. Five equities research analysts have rated the stock with a hold rating, The stock has a consensus rating of “Hold” and a consensus price target of $20.33.

In other Marten Transport news, Director Thomas J. Winkel sold 6,250 shares of Marten Transport stock in a transaction on Monday, April 29th. The stock was sold at an average price of $20.41, for a total value of $127,562.50. Following the sale, the director now owns 28,241 shares in the company, valued at $576,398.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 23.00% of the stock is owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC acquired a new position in Marten Transport during the 4th quarter worth $207,000. Public Employees Retirement System of Ohio grew its stake in Marten Transport by 16.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 58,523 shares of the transportation company’s stock worth $947,000 after purchasing an additional 8,096 shares in the last quarter. United Services Automobile Association grew its stake in Marten Transport by 20.5% during the 4th quarter. United Services Automobile Association now owns 19,116 shares of the transportation company’s stock worth $309,000 after purchasing an additional 3,257 shares in the last quarter. Oregon Public Employees Retirement Fund acquired a new position in Marten Transport during the 4th quarter worth $238,000. Finally, Texas Permanent School Fund grew its stake in Marten Transport by 3.6% during the 4th quarter. Texas Permanent School Fund now owns 25,304 shares of the transportation company’s stock worth $410,000 after purchasing an additional 886 shares in the last quarter. 69.65% of the stock is owned by hedge funds and other institutional investors.

Shares of MRTN stock traded up $0.05 on Thursday, hitting $17.77. The stock had a trading volume of 93,800 shares, compared to its average volume of 211,081. The firm has a market capitalization of $994.45 million, a price-to-earnings ratio of 17.77 and a beta of 1.51. Marten Transport has a 1 year low of $15.39 and a 1 year high of $24.10. The firm has a 50 day moving average of $18.00.

Marten Transport (NASDAQ:MRTN) last released its earnings results on Tuesday, April 16th. The transportation company reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.01. Marten Transport had a return on equity of 10.23% and a net margin of 7.28%. The firm had revenue of $199.00 million during the quarter, compared to analysts’ expectations of $196.60 million. During the same period in the previous year, the firm posted $0.19 EPS. Marten Transport’s revenue for the quarter was up 6.4% on a year-over-year basis. As a group, analysts expect that Marten Transport will post 1.12 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.12 annualized dividend and a yield of 0.68%. Marten Transport’s payout ratio is 12.00%.

Marten Transport Company Profile

Marten Transport, Ltd. operates as a temperature-sensitive truckload carrier for shippers in the United States, Canada, and Mexico. It operates through four segments: Truckload, Dedicated, Intermodal, and Brokerage. The Truckload segment transports food and other consumer packaged goods that require a temperature-controlled or insulated environment.

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