Canvas Wealth Advisors LLC Sells 60,942 Shares of Marten Transport, Ltd. $MRTN

Canvas Wealth Advisors LLC lessened its position in shares of Marten Transport, Ltd. (NASDAQ:MRTN) by 82.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,673 shares of the transportation company’s stock after selling 60,942 shares during the quarter. Canvas Wealth Advisors LLC’s holdings in Marten Transport were worth $220,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in Marten Transport by 28.6% in the second quarter. GAMMA Investing LLC now owns 13,388 shares of the transportation company’s stock valued at $232,000 after acquiring an additional 2,979 shares in the last quarter. Bank of America Corp DE increased its position in shares of Marten Transport by 49.1% during the first quarter. Bank of America Corp DE now owns 557,096 shares of the transportation company’s stock worth $7,315,000 after purchasing an additional 183,349 shares in the last quarter. Amundi acquired a new position in shares of Marten Transport during the first quarter worth $342,000. Quantinno Capital Management LP lifted its holdings in shares of Marten Transport by 40.7% during the 1st quarter. Quantinno Capital Management LP now owns 61,545 shares of the transportation company’s stock valued at $808,000 after purchasing an additional 17,801 shares during the last quarter. Finally, London Co. of Virginia lifted its holdings in shares of Marten Transport by 5.8% during the 1st quarter. London Co. of Virginia now owns 889,273 shares of the transportation company’s stock valued at $11,676,000 after purchasing an additional 48,697 shares during the last quarter. Hedge funds and other institutional investors own 69.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Stephens lowered their price objective on Marten Transport from $18.00 to $16.00 and set an “equal weight” rating for the company in a research report on Friday, July 24th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Marten Transport in a research note on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Marten Transport has a consensus rating of “Moderate Buy” and an average price target of $16.00.

Marten Transport Trading Up 3.1%

NASDAQ:MRTN opened at $14.96 on Thursday. The company has a market cap of $1.22 billion, a PE ratio of 88.00 and a beta of 0.95. Marten Transport, Ltd. has a twelve month low of $9.35 and a twelve month high of $18.48. The company’s 50 day moving average is $16.75 and its two-hundred day moving average is $15.00.

Marten Transport (NASDAQ:MRTN) last issued its quarterly earnings results on Thursday, July 23rd. The transportation company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). The company had revenue of $223.54 million for the quarter, compared to analyst estimates of $227.10 million. Marten Transport had a net margin of 1.47% and a return on equity of 1.65%. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 EPS. As a group, analysts expect that Marten Transport, Ltd. will post 0.27 EPS for the current fiscal year.

Marten Transport Company Profile

Marten Transport, Inc is a North American transportation services provider offering temperature-controlled and dry van truckload services. Founded in 1946 and headquartered in Mondovi, Wisconsin, the company specializes in full truckload, dedicated contract carriage, intermodal and port drayage solutions. Its core focus on refrigerated and produce freight has made it a key partner for food manufacturers, retailers and other shippers requiring strict temperature management.

The company maintains a modern fleet of tractors and trailers equipped with advanced telematics, electronic logging devices and continuous temperature monitoring.