Connors Investor Services Inc. Sells 91,061 Shares of The Shyft Group, Inc. (NASDAQ:SHYF)

Connors Investor Services Inc. trimmed its position in The Shyft Group, Inc. (NASDAQ:SHYF - Free Report) by 40.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 131,771 shares of the company's stock after selling 91,061 shares during the period. Connors Investor Services Inc. owned approximately 0.38% of The Shyft Group worth $1,547,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of SHYF. Murphy & Mullick Capital Management Corp acquired a new stake in The Shyft Group in the fourth quarter worth $41,000. Quantbot Technologies LP bought a new position in The Shyft Group during the fourth quarter worth about $48,000. Tower Research Capital LLC TRC grew its stake in The Shyft Group by 77.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,403 shares of the company's stock valued at $52,000 after acquiring an additional 1,919 shares during the period. Quarry LP increased its holdings in shares of The Shyft Group by 317.7% in the fourth quarter. Quarry LP now owns 6,081 shares of the company's stock worth $71,000 after acquiring an additional 4,625 shares in the last quarter. Finally, Zacks Investment Management acquired a new stake in shares of The Shyft Group during the fourth quarter worth about $138,000. Institutional investors own 85.84% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, DA Davidson upgraded shares of The Shyft Group from a "neutral" rating to a "buy" rating and set a $15.00 target price on the stock in a report on Wednesday, January 15th.

The Shyft Group Stock Down 0.3 %

Shares of The Shyft Group stock traded down $0.03 during trading on Monday, reaching $9.13. The stock had a trading volume of 108,734 shares, compared to its average volume of 290,143. The company has a current ratio of 1.82, a quick ratio of 1.16 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $319.60 million, a price-to-earnings ratio of -101.37 and a beta of 1.93. The Shyft Group, Inc. has a 52 week low of $6.82 and a 52 week high of $17.56. The stock has a fifty day moving average price of $8.60 and a two-hundred day moving average price of $11.15.

The Shyft Group (NASDAQ:SHYF - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.09). The Shyft Group had a positive return on equity of 2.75% and a negative net margin of 0.36%. The business had revenue of $201.43 million for the quarter, compared to the consensus estimate of $211.90 million. Sell-side analysts predict that The Shyft Group, Inc. will post 0.68 EPS for the current fiscal year.

The Shyft Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 16th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Friday, May 16th. The Shyft Group's dividend payout ratio (DPR) is 2,000.00%.

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.