Shell Asset Management Co. reduced its position in shares of The Shyft Group, Inc. (NASDAQ:SHYF – Get Rating) by 12.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,600 shares of the company’s stock after selling 1,407 shares during the period. Shell Asset Management Co.’s holdings in The Shyft Group were worth $347,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC bought a new position in The Shyft Group during the 4th quarter valued at about $36,000. Oak Harbor Wealth Partners LLC bought a new position in The Shyft Group during the 4th quarter valued at about $246,000. Teacher Retirement System of Texas bought a new position in The Shyft Group during the 4th quarter valued at about $304,000. Bailard Inc. bought a new position in The Shyft Group during the 1st quarter valued at about $243,000. Finally, ProShare Advisors LLC acquired a new stake in The Shyft Group in the 4th quarter valued at about $371,000. 81.18% of the stock is owned by institutional investors.
The Shyft Group Stock Down 0.7 %
Shares of NASDAQ:SHYF opened at $25.91 on Friday. The Shyft Group, Inc. has a one year low of $17.66 and a one year high of $54.50. The company has a 50 day moving average of $21.40 and a 200-day moving average of $30.23. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.74 and a quick ratio of 1.08. The stock has a market cap of $908.66 million, a price-to-earnings ratio of 21.96 and a beta of 1.86.
Analyst Ratings Changes
Several research firms have weighed in on SHYF. TheStreet cut shares of The Shyft Group from a “b-” rating to a “c+” rating in a research report on Tuesday, May 17th. DA Davidson upgraded shares of The Shyft Group from a “neutral” rating to a “buy” rating and raised their price objective for the company from $32.00 to $38.00 in a research report on Wednesday, July 13th. Finally, Raymond James lowered their price objective on shares of The Shyft Group from $57.00 to $50.00 and set a “strong-buy” rating for the company in a research report on Tuesday, April 26th.
About The Shyft Group
The Shyft Group, Inc manufactures and assembles specialty vehicles for the commercial vehicle and recreational vehicle industries in the United States and internationally. It operates in two segments, Fleet Vehicles and Services, and Specialty Vehicles. The Fleet Vehicles and Services segment manufactures and sells commercial vehicles used in the e-commerce/last mile/parcel delivery, beverage and grocery delivery, laundry and linen, mobile retail, and trades and construction industries.
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