Polar Asset Management Partners Inc. Invests $4.44 Million in Marten Transport, Ltd. $MRTN

Key Points

• Polar Asset Management Partners initiated a $4.44 million position in Marten Transport, acquiring 255,800 shares, or approximately 0.31% of the company. Institutional investors and hedge funds collectively own 69.12% of MRTN.
• Marten Transport reported quarterly earnings of $0.07 per share, below the $0.08 consensus estimate, while revenue fell 2.8% year over year to $223.54 million. The stock opened at $14.49, below its 50-day moving average of $16.22.
• The company declared a quarterly dividend of $0.06 per share, equivalent to a 1.7% annualized yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $16.00, though Stephens lowered its target from $18.00 to $16.00.

Polar Asset Management Partners Inc. bought a new position in shares of Marten Transport, Ltd. (NASDAQ:MRTN - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 255,800 shares of the transportation company's stock, valued at approximately $4,438,000. Polar Asset Management Partners Inc. owned approximately 0.31% of Marten Transport as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Royal Bank of Canada increased its position in shares of Marten Transport by 12.0% in the first quarter. Royal Bank of Canada now owns 17,028 shares of the transportation company's stock worth $234,000 after acquiring an additional 1,826 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Marten Transport by 18.7% in the 1st quarter. AQR Capital Management LLC now owns 61,335 shares of the transportation company's stock valued at $842,000 after acquiring an additional 9,654 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Marten Transport by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,496 shares of the transportation company's stock valued at $473,000 after acquiring an additional 1,447 shares in the last quarter. Caxton Associates LLP purchased a new stake in Marten Transport during the 1st quarter worth $158,000. Finally, Quantbot Technologies LP purchased a new stake in Marten Transport during the 2nd quarter worth $96,000. 69.12% of the stock is owned by institutional investors and hedge funds.

Marten Transport Stock Down 1.2%

MRTN opened at $14.49 on Wednesday. The firm's 50 day moving average is $16.22 and its 200-day moving average is $15.14. Marten Transport, Ltd. has a 52-week low of $9.35 and a 52-week high of $18.48. The firm has a market capitalization of $1.18 billion, a P/E ratio of 85.24 and a beta of 0.95.

Marten Transport (NASDAQ:MRTN - Get Free Report) last announced its earnings results on Thursday, July 23rd. The transportation company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.01). The firm had revenue of $223.54 million during the quarter, compared to analysts' expectations of $227.10 million. Marten Transport had a net margin of 1.47% and a return on equity of 1.65%. Marten Transport's revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.09 earnings per share. Equities analysts expect that Marten Transport, Ltd. will post 0.27 earnings per share for the current fiscal year.

Marten Transport Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Wednesday, September 16th. Marten Transport's dividend payout ratio is presently 141.18%.

Analysts Set New Price Targets

Several research analysts have commented on MRTN shares. Weiss Ratings reissued a "hold (c-)" rating on shares of Marten Transport in a research report on Tuesday, June 30th. Stephens decreased their target price on Marten Transport from $18.00 to $16.00 and set an "equal weight" rating for the company in a research report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $16.00.

About Marten Transport

Marten Transport, Inc is a North American transportation services provider offering temperature-controlled and dry van truckload services. Founded in 1946 and headquartered in Mondovi, Wisconsin, the company specializes in full truckload, dedicated contract carriage, intermodal and port drayage solutions. Its core focus on refrigerated and produce freight has made it a key partner for food manufacturers, retailers and other shippers requiring strict temperature management.

The company maintains a modern fleet of tractors and trailers equipped with advanced telematics, electronic logging devices and continuous temperature monitoring.

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