The Shyft Group, Inc. (NASDAQ:SHYF) Stock Holdings Decreased by Orchard Capital Management LLC

Orchard Capital Management LLC reduced its stake in shares of The Shyft Group, Inc. (NASDAQ:SHYF) by 1.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 548,643 shares of the company’s stock after selling 7,349 shares during the quarter. The Shyft Group comprises approximately 2.0% of Orchard Capital Management LLC’s portfolio, making the stock its 27th largest holding. Orchard Capital Management LLC’s holdings in The Shyft Group were worth $6,507,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of The Shyft Group by 4.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 30,465 shares of the company’s stock worth $379,000 after purchasing an additional 1,231 shares during the period. Quest Partners LLC lifted its stake in The Shyft Group by 21.2% in the second quarter. Quest Partners LLC now owns 10,098 shares of the company’s stock valued at $120,000 after acquiring an additional 1,768 shares during the last quarter. nVerses Capital LLC acquired a new stake in The Shyft Group in the second quarter valued at approximately $26,000. Motco acquired a new stake in The Shyft Group in the first quarter valued at approximately $39,000. Finally, CWM LLC lifted its stake in The Shyft Group by 260.9% in the second quarter. CWM LLC now owns 4,731 shares of the company’s stock valued at $56,000 after acquiring an additional 3,420 shares during the last quarter. 85.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, DA Davidson upgraded shares of The Shyft Group from a “neutral” rating to a “buy” rating and lifted their target price for the company from $12.00 to $18.00 in a research note on Monday, July 29th.

The Shyft Group Price Performance

NASDAQ SHYF opened at $13.14 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.86 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $452.80 million, a PE ratio of -1,314.00 and a beta of 1.65. The company has a 50 day moving average price of $13.28 and a two-hundred day moving average price of $12.27. The Shyft Group, Inc. has a 12-month low of $9.81 and a 12-month high of $17.56.

The Shyft Group (NASDAQ:SHYF) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.09. The Shyft Group had a negative net margin of 0.30% and a positive return on equity of 1.22%. The company had revenue of $192.80 million for the quarter, compared to analyst estimates of $201.49 million. During the same quarter last year, the firm posted $0.22 earnings per share. The company’s quarterly revenue was down 14.3% compared to the same quarter last year. As a group, equities analysts predict that The Shyft Group, Inc. will post 0.29 earnings per share for the current fiscal year.

The Shyft Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 16th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend was Friday, August 16th. The Shyft Group’s dividend payout ratio is -2,000.00%.

About The Shyft Group

The Shyft Group, Inc engages in the manufacture and assembly of specialty vehicles for the commercial and recreational vehicle industries in the United States and internationally. It operates in two segments, Fleet Vehicles and Services, and Specialty Vehicles. The Fleet Vehicles and Services segment offers commercial vehicles used in the e-commerce/last mile/parcel delivery, beverage and grocery delivery, laundry and linen, mobile retail, and trades and construction industries.