Marshall Wace LLP Invests $523,000 in The Shyft Group, Inc. (NASDAQ:SHYF)

Marshall Wace LLP acquired a new stake in The Shyft Group, Inc. (NASDAQ:SHYF) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 44,074 shares of the company’s stock, valued at approximately $523,000. Marshall Wace LLP owned approximately 0.13% of The Shyft Group at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. nVerses Capital LLC purchased a new position in The Shyft Group in the second quarter valued at about $26,000. Motco purchased a new position in The Shyft Group in the first quarter valued at about $39,000. CWM LLC grew 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 purchasing an additional 3,420 shares during the last quarter. National Bank of Canada FI grew its stake in The Shyft Group by 6,784.7% in the second quarter. National Bank of Canada FI now owns 5,852 shares of the company’s stock valued at $65,000 after purchasing an additional 5,767 shares during the last quarter. Finally, Quest Partners LLC grew 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 purchasing an additional 1,768 shares during the last quarter. 85.84% of the stock is currently owned by institutional investors.

The Shyft Group Price Performance

SHYF stock opened at $11.67 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.86 and a quick ratio of 1.19. The firm has a market capitalization of $401.14 million, a P/E ratio of -1,167.00 and a beta of 1.65. The business’s 50-day moving average is $13.18 and its two-hundred day moving average is $12.42. The Shyft Group, Inc. has a 1 year low of $9.81 and a 1 year high of $17.56.

The Shyft Group (NASDAQ:SHYF) last issued its earnings results on Thursday, July 25th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.09. The Shyft Group had a positive return on equity of 1.22% and a negative net margin of 0.30%. The business had revenue of $192.80 million for the quarter, compared to analyst estimates of $201.49 million. During the same quarter last year, the company earned $0.22 EPS. The business’s quarterly revenue was down 14.3% on a year-over-year basis. Analysts anticipate that The Shyft Group, Inc. will post 0.29 earnings per share for the current fiscal year.

The Shyft Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Friday, August 16th were paid a $0.05 dividend. The ex-dividend date was Friday, August 16th. This represents a $0.20 annualized dividend and a dividend yield of 1.71%. The Shyft Group’s dividend payout ratio (DPR) is currently -2,000.00%.

Analyst Ratings Changes

Separately, DA Davidson raised The Shyft Group from a “neutral” rating to a “buy” rating and boosted their price target for the company from $12.00 to $18.00 in a report on Monday, July 29th.

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.