Traders Purchase Large Volume of Put Options on Marten Transport (NASDAQ:MRTN)

Marten Transport, Ltd. (NASDAQ:MRTNGet Rating) was the target of unusually large options trading on Tuesday. Investors purchased 3,949 put options on the stock. This is an increase of approximately 3,034% compared to the typical daily volume of 126 put options.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MRTN. Stephens lifted their price target on Marten Transport to $23.00 in a research report on Friday, July 22nd. Vertical Research cut Marten Transport from a “buy” rating to a “hold” rating and raised their target price for the stock from $24.00 to $25.00 in a research report on Wednesday, August 17th.

Marten Transport Trading Down 1.2 %

MRTN stock opened at $19.75 on Wednesday. Marten Transport has a 1-year low of $14.87 and a 1-year high of $23.43. The firm has a market cap of $1.60 billion, a P/E ratio of 15.43 and a beta of 0.95. The business’s 50 day moving average is $20.50 and its 200-day moving average is $18.56.

Marten Transport (NASDAQ:MRTNGet Rating) last released its quarterly earnings data on Monday, July 18th. The transportation company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.07. The company had revenue of $329.57 million for the quarter, compared to analyst estimates of $291.70 million. Marten Transport had a return on equity of 16.24% and a net margin of 9.27%. The company’s revenue was up 41.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.26 EPS. Sell-side analysts forecast that Marten Transport will post 1.41 EPS for the current year.

Marten Transport Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Thursday, September 15th. Marten Transport’s dividend payout ratio is 18.75%.

Insider Buying and Selling

In other Marten Transport news, Director Larry B. Hagness sold 10,313 shares of Marten Transport stock in a transaction on Monday, August 15th. The stock was sold at an average price of $22.93, for a total transaction of $236,477.09. Following the sale, the director now owns 195,475 shares of the company’s stock, valued at approximately $4,482,241.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 22.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Legal & General Group Plc boosted its stake in shares of Marten Transport by 0.4% during the 2nd quarter. Legal & General Group Plc now owns 146,896 shares of the transportation company’s stock worth $2,470,000 after buying an additional 589 shares during the last quarter. Martingale Asset Management L P increased its stake in Marten Transport by 0.9% in the first quarter. Martingale Asset Management L P now owns 65,325 shares of the transportation company’s stock valued at $1,162,000 after acquiring an additional 600 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Marten Transport by 1.0% in the second quarter. Envestnet Asset Management Inc. now owns 64,760 shares of the transportation company’s stock valued at $1,089,000 after acquiring an additional 621 shares during the last quarter. Teacher Retirement System of Texas increased its stake in Marten Transport by 5.3% in the first quarter. Teacher Retirement System of Texas now owns 12,766 shares of the transportation company’s stock valued at $227,000 after acquiring an additional 648 shares during the last quarter. Finally, Van Hulzen Asset Management LLC boosted its position in Marten Transport by 1.7% in the second quarter. Van Hulzen Asset Management LLC now owns 39,964 shares of the transportation company’s stock valued at $672,000 after buying an additional 664 shares in the last quarter. Institutional investors and hedge funds own 69.75% of the company’s stock.

About Marten Transport

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Marten Transport, Ltd. operates as a temperature-sensitive truckload carrier for shippers in the United States, Canada, and Mexico. It 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.

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