Engineers Gate Manager LP Sells 104,259 Shares of The Shyft Group, Inc. (NASDAQ:SHYF)

Engineers Gate Manager LP decreased its position in shares of The Shyft Group, Inc. (NASDAQ:SHYF – Get Rating) by 85.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,405 shares of the company’s stock after selling 104,259 shares during the period. Engineers Gate Manager LP’s holdings in The Shyft Group were worth $356,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in SHYF. Steward Partners Investment Advisory LLC increased its position in The Shyft Group by 49.1% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,745 shares of the company’s stock worth $32,000 after buying an additional 575 shares during the period. Point72 Hong Kong Ltd lifted its position in shares of The Shyft Group by 33.2% during the 2nd quarter. Point72 Hong Kong Ltd now owns 2,339 shares of the company’s stock worth $43,000 after buying an additional 583 shares during the last quarter. UBS Group AG lifted its position in shares of The Shyft Group by 57.5% during the 3rd quarter. UBS Group AG now owns 3,050 shares of the company’s stock worth $63,000 after buying an additional 1,114 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of The Shyft Group by 261.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 4,691 shares of the company’s stock worth $96,000 after buying an additional 3,394 shares during the last quarter. Finally, Great West Life Assurance Co. Can lifted its position in shares of The Shyft Group by 296.1% during the 3rd quarter. Great West Life Assurance Co. Can now owns 6,168 shares of the company’s stock worth $126,000 after buying an additional 4,611 shares during the last quarter. Institutional investors own 80.17% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Raymond James dropped their price objective on The Shyft Group from $40.00 to $30.00 and set a “strong-buy” rating for the company in a research report on Friday, February 24th. DA Davidson lowered their target price on The Shyft Group from $38.00 to $32.00 and set a “buy” rating for the company in a report on Friday, February 24th. TheStreet raised The Shyft Group from a “c+” rating to a “b-” rating in a report on Thursday, January 26th. Finally, BTIG Research began coverage on The Shyft Group in a report on Thursday, January 19th. They issued a “buy” rating and a $40.00 target price for the company.

The Shyft Group Trading Down 3.4 %

NASDAQ:SHYF opened at $23.69 on Tuesday. The company has a current ratio of 1.72, a quick ratio of 1.22 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $834.36 million, a price-to-earnings ratio of 23.00 and a beta of 1.97. The firm has a fifty day simple moving average of $29.64 and a two-hundred day simple moving average of $25.44. The Shyft Group, Inc. has a 12 month low of $17.66 and a 12 month high of $41.63.

The Shyft Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 17th. Shareholders of record on Friday, February 17th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date is Thursday, February 16th. The Shyft Group’s payout ratio is 19.42%.

Insiders Place Their Bets

In other The Shyft Group news, insider Stephen K. Guillaume sold 4,000 shares of the firm’s stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $26.58, for a total value of $106,320.00. Following the transaction, the insider now directly owns 67,792 shares of the company’s stock, valued at $1,801,911.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other The Shyft Group news, insider Stephen K. Guillaume sold 4,000 shares of the firm’s stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $26.58, for a total value of $106,320.00. Following the transaction, the insider now directly owns 67,792 shares of the company’s stock, valued at $1,801,911.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephen K. Guillaume sold 2,000 shares of the firm’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $26.83, for a total transaction of $53,660.00. Following the completion of the transaction, the insider now directly owns 73,792 shares in the company, valued at $1,979,839.36. The disclosure for this sale can be found here. Corporate insiders own 2.26% of the company’s stock.

The Shyft Group Company Profile

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The Shyft Group, Inc engages in vehicle manufacturing and assembly for the commercial and retail vehicle industries as well as for the emergency response and recreational vehicle markets. It operates through the Fleet Vehicles and Services, and Specialty Vehicles segments. The Fleet Vehicles and Services segment manufactures commercial vehicles used in the e-commerce/last mile/parcel delivery, beverage and grocery delivery, mobile retail, and trades and construction industries.