Victory Capital Management Inc. Decreases Stake in Marten Transport, Ltd. (NASDAQ:MRTN)

Victory Capital Management Inc. reduced its holdings in shares of Marten Transport, Ltd. (NASDAQ:MRTN) by 0.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,048,367 shares of the transportation company’s stock after selling 31,623 shares during the quarter. Victory Capital Management Inc. owned 4.97% of Marten Transport worth $71,656,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of MRTN. Canada Pension Plan Investment Board bought a new position in shares of Marten Transport during the second quarter valued at $28,000. CWM LLC lifted its holdings 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 purchasing an additional 1,561 shares in 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 valued at $117,000 after purchasing an additional 1,289 shares in the last quarter. 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 valued at $216,000 after purchasing an additional 807 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. bought a new position in shares of Marten Transport during the third quarter valued at $263,000. 69.12% of the stock is owned by institutional investors.

Insider Buying and Selling at Marten Transport

In related news, Director Jerry M. Bauer acquired 10,000 shares of the stock in a transaction dated Wednesday, October 30th. The stock was acquired at an average cost of $15.81 per share, with a total value of $158,100.00. Following the purchase, the director now directly owns 156,444 shares of the company’s stock, valued at approximately $2,473,379.64. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 22.90% of the stock is currently owned by company insiders.

Marten Transport Stock Performance

MRTN stock opened at $17.67 on Thursday. Marten Transport, Ltd. has a fifty-two week low of $15.33 and a fifty-two week high of $21.38. The business’s 50-day moving average is $16.87 and its two-hundred day moving average is $17.39. The company has a market cap of $1.44 billion, a price-to-earnings ratio of 42.07 and a beta of 0.79.

Marten Transport (NASDAQ:MRTN) last issued its quarterly earnings results on Thursday, October 17th. The transportation company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). Marten Transport had a return on equity of 4.41% and a net margin of 3.36%. The company had revenue of $237.37 million during the quarter, compared to analysts’ expectations of $244.00 million. Equities analysts predict that Marten Transport, Ltd. will post 0.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports 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 downgraded Marten Transport from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd.

Marten Transport Company 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.