Marten Transport (NASDAQ:MRTN) Shares Gap Down to $16.76

Marten Transport, Ltd. (NASDAQ:MRTN)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $16.76, but opened at $16.39. Marten Transport shares last traded at $16.49, with a volume of 37,723 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Vertical Research raised shares of Marten Transport from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Wednesday, January 10th.

Marten Transport Stock Performance

The business’s 50 day moving average price is $18.44 and its 200-day moving average price is $19.01. The firm has a market capitalization of $1.30 billion, a PE ratio of 18.36 and a beta of 0.79.

Marten Transport (NASDAQ:MRTN) last announced its earnings results on Wednesday, April 17th. The transportation company reported $0.12 earnings per share for the quarter, hitting the consensus estimate of $0.12. Marten Transport had a net margin of 6.22% and a return on equity of 9.48%. The firm had revenue of $249.67 million for the quarter, compared to the consensus estimate of $262.77 million. During the same period in the prior year, the firm earned $0.28 EPS. The firm’s revenue for the quarter was down 16.2% on a year-over-year basis.

Marten Transport Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.50%. The ex-dividend date was Thursday, March 14th. Marten Transport’s payout ratio is currently 27.59%.

Institutional Investors Weigh In On Marten Transport

Large investors have recently added to or reduced their stakes in the business. Jump Financial LLC purchased a new stake in Marten Transport during the 3rd quarter worth approximately $505,000. GHP Investment Advisors Inc. grew its holdings in Marten Transport by 0.9% during the 3rd quarter. GHP Investment Advisors Inc. now owns 369,203 shares of the transportation company’s stock worth $7,133,000 after acquiring an additional 3,285 shares in the last quarter. Wellington Management Group LLP acquired a new position in Marten Transport during the 3rd quarter worth approximately $12,907,000. Scopus Asset Management L.P. acquired a new position in Marten Transport during the 3rd quarter worth approximately $1,141,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Marten Transport by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 753,287 shares of the transportation company’s stock worth $14,847,000 after acquiring an additional 26,864 shares in the last quarter. 69.12% of the stock is owned by hedge funds and other institutional investors.

About Marten Transport

Marten Transport, Ltd. operates as a temperature-sensitive truckload carrier for shippers in the United State, Mexico, and Canada. The company 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, as well as dry freight; and regional short-haul and medium-to-long-haul full-load transportation services.