SPAR Group, Inc. (NASDAQ:SGRP) Sees Significant Increase in Short Interest

SPAR Group, Inc. (NASDAQ:SGRP) was the target of a significant increase in short interest in October. As of October 15th, there was short interest totalling 57,000 shares, an increase of 56.2% from the September 30th total of 36,500 shares. Based on an average trading volume of 190,600 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.5% of the shares of the stock are short sold.

SPAR Group Trading Down 0.4 %

SPAR Group stock traded down $0.01 during midday trading on Tuesday, hitting $2.43. 49,997 shares of the stock were exchanged, compared to its average volume of 220,355. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.06. The stock’s 50-day simple moving average is $2.26 and its 200 day simple moving average is $2.12. SPAR Group has a fifty-two week low of $0.70 and a fifty-two week high of $3.12. The stock has a market capitalization of $56.91 million, a price-to-earnings ratio of 4.58 and a beta of 0.71.

SPAR Group (NASDAQ:SGRP) last issued its quarterly earnings data on Wednesday, August 14th. The business services provider reported $0.15 earnings per share for the quarter. SPAR Group had a return on equity of 12.27% and a net margin of 4.90%. The company had revenue of $57.29 million during the quarter, compared to analyst estimates of $44.00 million. During the same period in the prior year, the business posted $0.03 earnings per share. On average, equities analysts anticipate that SPAR Group will post 0.09 EPS for the current year.

Insider Activity

In other SPAR Group news, major shareholder Robert G/ Brown sold 94,900 shares of SPAR Group stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $2.43, for a total transaction of $230,607.00. Following the sale, the insider now owns 2,736,799 shares of the company’s stock, valued at $6,650,421.57. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 321,319 shares of company stock worth $775,426 over the last quarter. 59.66% of the stock is currently owned by corporate insiders.

Institutional Trading of SPAR Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd acquired a new stake in SPAR Group during the 2nd quarter worth approximately $25,000. Acadian Asset Management LLC acquired a new stake in shares of SPAR Group in the second quarter valued at $27,000. IAM Advisory LLC purchased a new position in SPAR Group in the second quarter valued at $32,000. Dimensional Fund Advisors LP acquired a new position in SPAR Group during the 2nd quarter worth $68,000. Finally, Renaissance Technologies LLC increased its holdings in SPAR Group by 199.6% during the 2nd quarter. Renaissance Technologies LLC now owns 123,129 shares of the business services provider’s stock worth $297,000 after purchasing an additional 82,029 shares during the period. Hedge funds and other institutional investors own 9.57% of the company’s stock.

About SPAR Group

SPAR Group, Inc, together with its subsidiaries, provides merchandising and brand marketing services in the Americas, the Asia-Pacific, Europe, Middle East, and Africa. The company offers merchandising and marketing services, such as resets and cut-ins; price and inventory audits; stock replenishment and rotation services; out of stock management; promotional event setup; and display management, as well as category management and set up services comprising category and product resets; planogram maintenance; display and shelf services; and point of purchase installation and management.