The Shyft Group, Inc. (NASDAQ:SHYF) Short Interest Update

The Shyft Group, Inc. (NASDAQ:SHYF) was the recipient of a significant decrease in short interest in the month of December. As of December 31st, there was short interest totalling 532,200 shares, a decrease of 52.9% from the December 15th total of 1,130,000 shares. Approximately 1.7% of the company’s stock are short sold. Based on an average daily trading volume, of 261,000 shares, the short-interest ratio is presently 2.0 days.

The Shyft Group Stock Performance

Shares of NASDAQ SHYF traded down $0.03 during mid-day trading on Thursday, hitting $12.33. 227,917 shares of the company were exchanged, compared to its average volume of 251,552. The firm has a market cap of $425.26 million, a price-to-earnings ratio of -102.75 and a beta of 1.66. The stock has a 50 day simple moving average of $12.72 and a 200-day simple moving average of $12.74. The company has a quick ratio of 1.16, a current ratio of 1.82 and a debt-to-equity ratio of 0.44. The Shyft Group has a 1-year low of $9.81 and a 1-year high of $17.56.

The Shyft Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 15th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.62%. The ex-dividend date was Friday, November 15th. The Shyft Group’s payout ratio is -166.67%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Royce & Associates LP boosted its stake in shares of The Shyft Group by 2.7% during the 3rd quarter. Royce & Associates LP now owns 953,018 shares of the company’s stock worth $11,960,000 after acquiring an additional 24,770 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of The Shyft Group by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 773,150 shares of the company’s stock worth $9,705,000 after buying an additional 9,588 shares during the last quarter. State Street Corp boosted its position in shares of The Shyft Group by 0.8% in the 3rd quarter. State Street Corp now owns 706,780 shares of the company’s stock worth $8,870,000 after buying an additional 5,682 shares in the last quarter. Federated Hermes Inc. grew its stake in The Shyft Group by 15.6% in the 2nd quarter. Federated Hermes Inc. now owns 666,679 shares of the company’s stock valued at $7,907,000 after acquiring an additional 89,951 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in The Shyft Group by 16.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 564,242 shares of the company’s stock valued at $7,081,000 after acquiring an additional 78,550 shares in the last quarter. Hedge funds and other institutional investors own 85.84% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SHYF shares. Roth Mkm restated a “buy” rating and issued a $16.00 price objective on shares of The Shyft Group in a report on Tuesday, December 17th. DA Davidson upgraded The Shyft Group from a “neutral” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Wednesday.

The Shyft Group Company Profile

The Shyft Group, Inc engages in the manufacture and assembly of specialty vehicles for the commercial 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 offers 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.