SPAR Group, Inc. (NASDAQ:SGRP) Sees Large Growth in Short Interest

SPAR Group, Inc. (NASDAQ:SGRP - Get Free Report) was the recipient of a large growth in short interest during the month of October. As of October 15th, there was short interest totalling 57,000 shares, a growth of 56.2% from the September 30th total of 36,500 shares. Based on an average trading volume of 190,600 shares, the short-interest ratio is presently 0.3 days. Currently, 0.5% of the company's shares are short sold.

Insider Buying and Selling

In other news, major shareholder Robert G/ Brown sold 162,454 shares of SPAR Group stock in a transaction on Friday, October 18th. The stock was sold at an average price of $2.40, for a total transaction of $389,889.60. Following the completion of the sale, the insider now directly owns 2,568,446 shares in the company, valued at approximately $6,164,270.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders sold 321,319 shares of company stock valued at $775,426. Insiders own 59.66% of the company's stock.

Institutional Trading of SPAR Group

Large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC lifted its stake 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 valued at $297,000 after acquiring an additional 82,029 shares during the period. Dimensional Fund Advisors LP acquired a new position in SPAR Group during the second quarter valued at $68,000. IAM Advisory LLC acquired a new position in SPAR Group during the second quarter valued at $32,000. Acadian Asset Management LLC purchased a new stake in SPAR Group in the second quarter valued at $27,000. Finally, XTX Topco Ltd acquired a new stake in SPAR Group during the 2nd quarter worth about $25,000. Hedge funds and other institutional investors own 9.57% of the company's stock.

SPAR Group Stock Up 2.1 %

SGRP stock traded up $0.05 during trading on Friday, hitting $2.46. 269,450 shares of the company's stock traded hands, compared to its average volume of 221,655. The firm has a market capitalization of $57.61 million, a P/E ratio of 4.64 and a beta of 0.71. SPAR Group has a 1 year low of $0.70 and a 1 year high of $3.12. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.06. The business has a fifty day simple moving average of $2.23 and a two-hundred day simple moving average of $2.11.

SPAR Group (NASDAQ:SGRP - Get Free Report) last announced its quarterly earnings results on Wednesday, August 14th. The business services provider reported $0.15 earnings per share (EPS) for the quarter. The business had revenue of $57.29 million for the quarter, compared to the consensus estimate of $44.00 million. SPAR Group had a return on equity of 12.27% and a net margin of 4.90%. During the same period last year, the business posted $0.03 EPS. Sell-side analysts anticipate that SPAR Group will post 0.09 EPS for the current year.

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.