Victory Capital Management Inc. Sells 31,623 Shares of Marten Transport, Ltd. (NASDAQ:MRTN)

Victory Capital Management Inc. lowered its position in shares of Marten Transport, Ltd. (NASDAQ:MRTN - Free Report) by 0.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,048,367 shares of the transportation company's stock after selling 31,623 shares during the period. Victory Capital Management Inc. owned about 4.97% of Marten Transport worth $71,656,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Canada Pension Plan Investment Board bought a new position in Marten Transport in the 2nd quarter valued at approximately $28,000. CWM LLC raised its stake in shares of Marten Transport by 88.8% during the second quarter. CWM LLC now owns 3,319 shares of the transportation company's stock valued at $61,000 after acquiring an additional 1,561 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Marten Transport by 24.3% during the third quarter. Nisa Investment Advisors LLC now owns 6,587 shares of the transportation company's stock worth $117,000 after purchasing an additional 1,289 shares during the period. ProShare Advisors LLC lifted its holdings in shares of Marten Transport by 7.4% during the first quarter. ProShare Advisors LLC now owns 11,706 shares of the transportation company's stock worth $216,000 after purchasing an additional 807 shares during the period. Finally, Hennion & Walsh Asset Management Inc. bought a new stake in shares of Marten Transport in the third quarter worth $263,000. Institutional investors and hedge funds own 69.12% of the company's stock.

Insiders Place Their Bets

In related news, Director Jerry M. Bauer acquired 10,000 shares of the company's stock in a transaction dated Wednesday, October 30th. The shares were purchased at an average price of $15.81 per share, for a total transaction of $158,100.00. Following the completion of the acquisition, the director now owns 156,444 shares of the company's stock, valued at approximately $2,473,379.64. This trade represents a 6.83 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 22.90% of the company's stock.

Marten Transport Trading Down 2.4 %

MRTN stock traded down $0.42 during midday trading on Thursday, hitting $17.25. The stock had a trading volume of 314,223 shares, compared to its average volume of 400,354. The firm has a market cap of $1.40 billion, a P/E ratio of 42.07 and a beta of 0.79. The business has a fifty day moving average price of $16.87 and a two-hundred day moving average price of $17.39. Marten Transport, Ltd. has a 1-year low of $15.33 and a 1-year high of $21.38.

Marten Transport (NASDAQ:MRTN - Get Free Report) last announced its quarterly earnings data on Thursday, October 17th. The transportation company reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.02). Marten Transport had a net margin of 3.36% and a return on equity of 4.41%. The business had revenue of $237.37 million during the quarter, compared to analyst estimates of $244.00 million. On average, equities analysts anticipate that Marten Transport, Ltd. will post 0.32 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on MRTN shares. Raymond James downgraded Marten Transport from an "outperform" rating to a "market perform" rating in a report on Monday, October 14th. StockNews.com lowered Marten Transport from a "hold" rating to a "sell" rating in a research note on Wednesday, October 2nd.

Marten Transport Profile

Marten Transport, Ltd. operates as a temperature-sensitive truckload carrier for shippers in the United State, Mexico, and Canada. The company operates through four segments: Truckload, Dedicated, Intermodal, and Brokerage. The Truckload segment transports food and other consumer packaged goods that require a temperature-controlled or insulated environment, as well as dry freight; and regional short-haul and medium-to-long-haul full-load transportation services.