SPAR Group Inc (NASDAQ:SGRP) Sees Large Growth in Short Interest

SPAR Group Inc (NASDAQ:SGRP) was the recipient of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 48,200 shares, an increase of 54.5% from the September 30th total of 31,200 shares. Approximately 0.5% of the company’s shares are sold short. Based on an average daily volume of 76,500 shares, the days-to-cover ratio is presently 0.6 days.

In other SPAR Group news, major shareholder Robert G/ Brown sold 70,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $1.01, for a total transaction of $70,700.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Kori Belzer sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $1.17, for a total transaction of $29,250.00. Following the transaction, the chief operating officer now owns 150,671 shares of the company’s stock, valued at approximately $176,285.07. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 155,486 shares of company stock valued at $171,584. Company insiders own 63.90% of the company’s stock.

An institutional investor recently bought a new position in SPAR Group stock. Smith Chas P & Associates PA Cpas acquired a new stake in SPAR Group Inc (NASDAQ:SGRP) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 48,443 shares of the business services provider’s stock, valued at approximately $50,000. Smith Chas P & Associates PA Cpas owned approximately 0.23% of SPAR Group as of its most recent SEC filing. Institutional investors and hedge funds own 5.89% of the company’s stock.

SPAR Group stock traded down $0.01 during mid-day trading on Friday, hitting $1.15. 95,300 shares of the stock were exchanged, compared to its average volume of 55,178. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.19. SPAR Group has a 12 month low of $0.45 and a 12 month high of $1.24. The firm’s fifty day simple moving average is $1.07 and its two-hundred day simple moving average is $0.88. The stock has a market capitalization of $22.33 million, a price-to-earnings ratio of 6.70 and a beta of 0.32.

SPAR Group (NASDAQ:SGRP) last released its quarterly earnings data on Wednesday, August 14th. The business services provider reported $0.07 earnings per share for the quarter. The company had revenue of $68.22 million during the quarter. SPAR Group had a net margin of 0.93% and a return on equity of 12.56%.

Several research analysts have issued reports on SGRP shares. ValuEngine lowered shares of SPAR Group from a “sell” rating to a “strong sell” rating in a report on Thursday. TheStreet upgraded shares of SPAR Group from a “d” rating to a “c” rating in a report on Friday, September 6th.

SPAR Group Company Profile

SPAR Group, Inc, together with its subsidiaries, provides merchandising and marketing services worldwide. The company offers syndicated services, such as product reordering and replenishment; ensuring its products for distribution; adding new products; implementing store planogram schematics; setting product category shelves; ensuring that product shelf tags are in place; checking for salability of the clients' products; placing new product and promotional items in prominent positions; and kiosk replenishment and maintenance services for retailers, manufacturers, and distributors.

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