Marten Transport, Ltd. (NASDAQ:MRTN) Short Interest Down 19.5% in May

Marten Transport, Ltd. (NASDAQ:MRTN) was the recipient of a significant decrease in short interest in the month of May. As of May 31st, there was short interest totalling 690,100 shares, a decrease of 19.5% from the May 15th total of 857,400 shares. Based on an average daily volume of 517,500 shares, the days-to-cover ratio is currently 1.3 days. Approximately 1.2% of the company’s shares are sold short.

Marten Transport Price Performance

Shares of NASDAQ:MRTN traded down $0.23 during trading on Friday, hitting $17.34. 625,591 shares of the company were exchanged, compared to its average volume of 315,520. The stock has a market capitalization of $1.41 billion, a P/E ratio of 24.42 and a beta of 0.76. Marten Transport has a 12-month low of $15.33 and a 12-month high of $23.38. The firm’s 50 day moving average price is $17.43 and its 200-day moving average price is $18.69.

Marten Transport (NASDAQ:MRTN) last announced its earnings results on Thursday, April 18th. The transportation company reported $0.12 EPS for the quarter, meeting analysts’ consensus estimates of $0.12. The business had revenue of $249.67 million for the quarter, compared to analysts’ expectations of $262.77 million. Marten Transport had a net margin of 5.31% and a return on equity of 7.65%. The company’s quarterly revenue was down 16.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.28 EPS. As a group, equities research analysts anticipate that Marten Transport will post 0.66 EPS for the current year.

Marten Transport Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $0.06 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.38%. Marten Transport’s payout ratio is 33.80%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MRTN. Raymond James began coverage on shares of Marten Transport in a research note on Wednesday, May 15th. They set an “outperform” rating and a $20.00 target price for the company. Stephens decreased their price target on shares of Marten Transport from $23.00 to $21.00 and set an “overweight” rating for the company in a research note on Friday, April 19th. One analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Marten Transport has an average rating of “Moderate Buy” and a consensus price target of $22.00.

Insider Activity at Marten Transport

In related news, President Douglas Paul Petit sold 4,500 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $18.22, for a total value of $81,990.00. Following the completion of the sale, the president now owns 31,600 shares of the company’s stock, valued at $575,752. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 22.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Marten Transport

A number of institutional investors have recently modified their holdings of the business. Texas Permanent School Fund Corp increased its stake in Marten Transport by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 50,526 shares of the transportation company’s stock valued at $934,000 after buying an additional 657 shares during the period. Illinois Municipal Retirement Fund grew its stake in shares of Marten Transport by 2.0% during the 1st quarter. Illinois Municipal Retirement Fund now owns 33,282 shares of the transportation company’s stock worth $615,000 after purchasing an additional 665 shares during the period. ProShare Advisors LLC grew its stake in shares of Marten Transport by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 11,706 shares of the transportation company’s stock worth $216,000 after purchasing an additional 807 shares during the period. Swiss National Bank grew its stake in shares of Marten Transport by 1.1% during the 3rd quarter. Swiss National Bank now owns 133,875 shares of the transportation company’s stock worth $2,639,000 after purchasing an additional 1,400 shares during the period. Finally, Natixis Advisors L.P. grew its stake in shares of Marten Transport by 10.7% during the 3rd quarter. Natixis Advisors L.P. now owns 16,727 shares of the transportation company’s stock worth $330,000 after purchasing an additional 1,616 shares during the period. 69.12% of the stock is owned by institutional investors and hedge funds.

Marten Transport Company Profile

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.