Manitex International, Inc. (NASDAQ:MNTX) Sees Large Increase in Short Interest

Manitex International, Inc. (NASDAQ:MNTXGet Rating) was the target of a significant growth in short interest in the month of July. As of July 15th, there was short interest totalling 8,500 shares, a growth of 16.4% from the June 30th total of 7,300 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average trading volume of 9,500 shares, the days-to-cover ratio is presently 0.9 days.

Insider Activity

In other news, CEO Michael Coffey acquired 6,500 shares of the firm’s stock in a transaction dated Monday, May 9th. The stock was acquired at an average cost of $7.64 per share, with a total value of $49,660.00. Following the completion of the acquisition, the chief executive officer now owns 596,500 shares of the company’s stock, valued at $4,557,260. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 6.68% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Royce & Associates LP raised its position in Manitex International by 6.4% in the second quarter. Royce & Associates LP now owns 1,446,544 shares of the industrial products company’s stock worth $9,388,000 after acquiring an additional 87,471 shares in the last quarter. Wedbush Securities Inc. raised its position in Manitex International by 1.6% in the second quarter. Wedbush Securities Inc. now owns 145,254 shares of the industrial products company’s stock worth $943,000 after acquiring an additional 2,300 shares in the last quarter. Cannell Capital LLC raised its position in Manitex International by 1.1% in the first quarter. Cannell Capital LLC now owns 365,362 shares of the industrial products company’s stock worth $2,660,000 after acquiring an additional 3,800 shares in the last quarter. Eqis Capital Management Inc. purchased a new position in Manitex International in the first quarter worth $86,000. Finally, State Street Corp raised its position in Manitex International by 13.2% in the first quarter. State Street Corp now owns 42,082 shares of the industrial products company’s stock worth $306,000 after acquiring an additional 4,901 shares in the last quarter. Hedge funds and other institutional investors own 46.89% of the company’s stock.

Manitex International Price Performance

Shares of NASDAQ MNTX opened at $5.76 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.49 and a quick ratio of 0.67. The stock has a fifty day moving average price of $6.56 and a 200 day moving average price of $7.11. Manitex International has a 1-year low of $5.58 and a 1-year high of $8.54. The company has a market cap of $115.36 million, a PE ratio of -32.00 and a beta of 0.75.

Manitex International (NASDAQ:MNTXGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The industrial products company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.11. Manitex International had a positive return on equity of 1.93% and a negative net margin of 1.59%. The firm had revenue of $60.42 million during the quarter, compared to the consensus estimate of $55.80 million. During the same period last year, the company earned ($0.01) earnings per share. Sell-side analysts forecast that Manitex International will post 0.33 EPS for the current year.

About Manitex International

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Manitex International, Inc provides engineered lifting solutions in the United States, Italy, Canada, France, Chile, and internationally. It designs, manufactures, and distributes products that are used in various industries. The company also offers boom trucks, truck cranes, aerial platforms, and sign cranes products primarily for use in industrial projects, energy exploration, and infrastructure development comprising roads, bridges, and commercial construction.

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