Sei Investments Co. Increases Stake in Marten Transport, Ltd. $MRTN

Key Points

• Sei Investments increased its Marten Transport stake by 79.1% in the first quarter, bringing its holdings to 220,314 shares valued at approximately $2.9 million. Institutional investors collectively own 69.12% of MRTN.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $16, although Stephens lowered its target from $18 to $16 and assigned an “equal weight” rating.
• Marten Transport recently missed quarterly expectations, reporting $0.07 in earnings per share versus the $0.08 estimate and revenue of $223.54 million versus $227.10 million; revenue declined 2.8% year over year.

Sei Investments Co. raised its stake in Marten Transport, Ltd. (NASDAQ:MRTN - Free Report) by 79.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 220,314 shares of the transportation company's stock after purchasing an additional 97,270 shares during the quarter. Sei Investments Co. owned 0.27% of Marten Transport worth $2,893,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in MRTN. State of Wyoming purchased a new stake in Marten Transport during the 1st quarter valued at $68,000. First Trust Advisors LP increased its position in shares of Marten Transport by 1.0% in the first quarter. First Trust Advisors LP now owns 304,165 shares of the transportation company's stock valued at $3,994,000 after acquiring an additional 2,884 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Marten Transport by 27.5% in the first quarter. PNC Financial Services Group Inc. now owns 11,572 shares of the transportation company's stock valued at $152,000 after acquiring an additional 2,499 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Marten Transport by 0.8% during the first quarter. Dimensional Fund Advisors LP now owns 4,893,498 shares of the transportation company's stock valued at $64,250,000 after acquiring an additional 37,761 shares during the last quarter. Finally, Heartland Advisors Inc. raised its stake in shares of Marten Transport by 16.7% during the first quarter. Heartland Advisors Inc. now owns 350,000 shares of the transportation company's stock valued at $4,596,000 after acquiring an additional 50,000 shares during the last quarter. Hedge funds and other institutional investors own 69.12% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MRTN. Stephens cut their target price on Marten Transport from $18.00 to $16.00 and set an "equal weight" rating on the stock in a research note on Friday, July 24th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Marten Transport in a report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $16.00.

Marten Transport Stock Up 0.6%

Shares of MRTN stock opened at $14.95 on Friday. The business's fifty day moving average is $16.92 and its 200 day moving average is $14.94. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of 87.94 and a beta of 0.95. Marten Transport, Ltd. has a twelve month low of $9.35 and a twelve month high of $18.48.

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

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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