The Shyft Group, Inc. (NASDAQ:SHYF) Shares Acquired by Garnet Equity Capital Holdings Inc.

Garnet Equity Capital Holdings Inc. lifted its position in shares of The Shyft Group, Inc. (NASDAQ:SHYF) by 30.4% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 42,080 shares of the company’s stock after acquiring an additional 9,800 shares during the period. The Shyft Group makes up approximately 0.5% of Garnet Equity Capital Holdings Inc.’s investment portfolio, making the stock its 19th largest position. Garnet Equity Capital Holdings Inc.’s holdings in The Shyft Group were worth $957,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in SHYF. HRT Financial LP acquired a new position in shares of The Shyft Group during the 1st quarter valued at about $207,000. UBS Group AG increased its stake in shares of The Shyft Group by 212.8% during the 1st quarter. UBS Group AG now owns 20,198 shares of the company’s stock valued at $460,000 after acquiring an additional 13,741 shares during the last quarter. Dark Forest Capital Management LP increased its stake in shares of The Shyft Group by 135.5% during the 1st quarter. Dark Forest Capital Management LP now owns 14,415 shares of the company’s stock valued at $328,000 after acquiring an additional 8,295 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of The Shyft Group by 5.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 385,675 shares of the company’s stock valued at $8,774,000 after acquiring an additional 21,270 shares during the last quarter. Finally, HighTower Advisors LLC increased its stake in shares of The Shyft Group by 9.8% during the 1st quarter. HighTower Advisors LLC now owns 407,914 shares of the company’s stock valued at $9,255,000 after acquiring an additional 36,326 shares during the last quarter. Institutional investors and hedge funds own 84.64% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on SHYF. Craig Hallum downgraded shares of The Shyft Group from a “buy” rating to a “hold” rating and dropped their price objective for the company from $35.00 to $16.00 in a research note on Thursday, July 27th. Raymond James decreased their target price on The Shyft Group from $26.00 to $18.00 in a report on Friday, July 28th. Finally, DA Davidson cut The Shyft Group from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $32.00 to $16.00 in a report on Friday, July 28th. Two analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, The Shyft Group currently has an average rating of “Moderate Buy” and an average price target of $22.50.

The Shyft Group Trading Up 4.1 %

Shares of NASDAQ:SHYF traded up $0.64 during trading on Friday, reaching $16.32. 284,894 shares of the stock were exchanged, compared to its average volume of 301,986. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.13 and a current ratio of 1.86. The Shyft Group, Inc. has a 12-month low of $12.91 and a 12-month high of $34.10. The firm has a market cap of $570.55 million, a price-to-earnings ratio of 13.95 and a beta of 1.91. The firm’s 50-day moving average price is $18.07 and its 200 day moving average price is $22.13.

The Shyft Group (NASDAQ:SHYF) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.04. The firm had revenue of $225.10 million during the quarter, compared to analysts’ expectations of $253.95 million. The Shyft Group had a return on equity of 17.72% and a net margin of 3.93%. On average, sell-side analysts anticipate that The Shyft Group, Inc. will post 0.43 earnings per share for the current fiscal year.

The Shyft Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Thursday, August 17th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Wednesday, August 16th. The Shyft Group’s dividend payout ratio is presently 17.09%.

Insiders Place Their Bets

In related news, Director Michael Dinkins purchased 3,150 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was purchased at an average price of $15.64 per share, for a total transaction of $49,266.00. Following the acquisition, the director now directly owns 16,549 shares in the company, valued at $258,826.36. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other The Shyft Group news, Director Michael Dinkins bought 3,150 shares of The Shyft Group stock in a transaction dated Thursday, August 3rd. The stock was bought at an average cost of $15.64 per share, for a total transaction of $49,266.00. Following the purchase, the director now owns 16,549 shares in the company, valued at approximately $258,826.36. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Pamela L. Kermisch bought 3,239 shares of The Shyft Group stock in a transaction dated Friday, July 28th. The shares were acquired at an average price of $15.44 per share, with a total value of $50,010.16. Following the completion of the purchase, the director now owns 8,698 shares in the company, valued at approximately $134,297.12. The disclosure for this purchase can be found here. Insiders purchased a total of 9,885 shares of company stock worth $149,304 in the last 90 days. 2.65% of the stock is owned by company insiders.

The Shyft Group Company Profile

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.