Russell Investments Group Ltd. Sells 174,947 Shares of Marten Transport, Ltd. $MRTN

Russell Investments Group Ltd. decreased its stake in Marten Transport, Ltd. (NASDAQ:MRTN) by 15.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 922,443 shares of the transportation company’s stock after selling 174,947 shares during the period. Russell Investments Group Ltd. owned 1.13% of Marten Transport worth $16,004,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. AlphaQuest LLC lifted its stake in shares of Marten Transport by 0.6% in the fourth quarter. AlphaQuest LLC now owns 121,536 shares of the transportation company’s stock worth $1,383,000 after acquiring an additional 755 shares during the period. Alliancebernstein L.P. increased its position in Marten Transport by 1.7% during the 3rd quarter. Alliancebernstein L.P. now owns 76,690 shares of the transportation company’s stock valued at $818,000 after purchasing an additional 1,271 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Marten Transport by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,496 shares of the transportation company’s stock valued at $473,000 after purchasing an additional 1,447 shares during the period. Sei Investments Co. raised its holdings in Marten Transport by 3.4% during the 3rd quarter. Sei Investments Co. now owns 48,628 shares of the transportation company’s stock worth $518,000 after purchasing an additional 1,595 shares during the last quarter. Finally, Royal Bank of Canada raised its holdings in Marten Transport by 12.0% during the 1st quarter. Royal Bank of Canada now owns 17,028 shares of the transportation company’s stock worth $234,000 after purchasing an additional 1,826 shares during the last quarter. 69.12% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Marten Transport Price Performance

Shares of NASDAQ:MRTN opened at $15.21 on Friday. Marten Transport, Ltd. has a 1 year low of $9.35 and a 1 year high of $18.48. The business’s 50-day moving average is $16.65 and its 200-day moving average is $15.02. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of 89.47 and a beta of 0.95.

Marten Transport (NASDAQ:MRTN) last released its earnings results on Thursday, July 23rd. The transportation company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.01). The business had revenue of $223.54 million for the quarter, compared to analyst estimates of $227.10 million. Marten Transport had a return on equity of 1.65% and a net margin of 1.47%.The company’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.09 EPS. Analysts anticipate that Marten Transport, Ltd. will post 0.27 EPS for the current year.

About Marten Transport

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.