SPAR Group (NASDAQ:SGRP) Shares Cross Below 200 Day Moving Average - Here's Why

Shares of SPAR Group, Inc. (NASDAQ:SGRP - Get Free Report) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.19 and traded as low as $2.10. SPAR Group shares last traded at $2.22, with a volume of 230,070 shares traded.

SPAR Group Price Performance

The company has a market capitalization of $52.76 million, a PE ratio of 4.35 and a beta of 0.71. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.77 and a quick ratio of 1.77. The company's 50 day simple moving average is $2.40 and its 200 day simple moving average is $2.19.

Insider Activity at SPAR Group

In other news, major shareholder Robert G/ Brown sold 21,221 shares of the business's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $2.45, for a total value of $51,991.45. Following the completion of the sale, the insider now owns 2,476,378 shares of the company's stock, valued at approximately $6,067,126.10. The trade was a 0.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have sold 342,540 shares of company stock worth $827,417. 59.66% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SPAR Group

Institutional investors have recently modified their holdings of the business. Geode Capital Management LLC lifted its position in shares of SPAR Group by 35.0% in the 3rd quarter. Geode Capital Management LLC now owns 136,691 shares of the business services provider's stock valued at $335,000 after acquiring an additional 35,450 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of 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 buying an additional 82,029 shares during the period. Murchinson Ltd. bought a new stake in SPAR Group in the 3rd quarter valued at $196,000. Corsair Capital Management L.P. boosted its holdings in SPAR Group by 3,205,200.0% in the 3rd quarter. Corsair Capital Management L.P. now owns 64,106 shares of the business services provider's stock valued at $157,000 after purchasing an additional 64,104 shares during the period. Finally, Dimensional Fund Advisors LP bought a new position in shares of SPAR Group during the 2nd quarter worth about $68,000. Institutional investors own 9.57% of the company's stock.

SPAR Group Company Profile

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.