Balyasny Asset Management L.P. Sells 77,859 Shares of Marten Transport, Ltd. (NASDAQ:MRTN)

Balyasny Asset Management L.P. trimmed its stake in shares of Marten Transport, Ltd. (NASDAQ:MRTN - Free Report) by 71.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,527 shares of the transportation company's stock after selling 77,859 shares during the quarter. Balyasny Asset Management L.P.'s holdings in Marten Transport were worth $477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Bank of America Corp DE grew its position in Marten Transport by 4.4% during the 4th quarter. Bank of America Corp DE now owns 244,808 shares of the transportation company's stock worth $3,821,000 after acquiring an additional 10,306 shares during the last quarter. Northern Trust Corp grew its position in Marten Transport by 4.5% during the 4th quarter. Northern Trust Corp now owns 933,776 shares of the transportation company's stock worth $14,576,000 after acquiring an additional 40,237 shares during the last quarter. Johnson Financial Group Inc. bought a new position in Marten Transport during the 4th quarter worth approximately $48,000. Nebula Research & Development LLC grew its position in Marten Transport by 47.9% during the 4th quarter. Nebula Research & Development LLC now owns 42,417 shares of the transportation company's stock worth $662,000 after acquiring an additional 13,744 shares during the last quarter. Finally, Penn Capital Management Company LLC grew its position in Marten Transport by 21.2% during the 4th quarter. Penn Capital Management Company LLC now owns 280,250 shares of the transportation company's stock worth $4,375,000 after acquiring an additional 48,944 shares during the last quarter. 69.12% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Stephens raised their price target on Marten Transport from $18.00 to $19.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 28th. StockNews.com upgraded Marten Transport from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th.

Marten Transport Stock Performance

Shares of NASDAQ:MRTN traded down $0.20 during midday trading on Wednesday, reaching $13.21. 36,490 shares of the company's stock traded hands, compared to its average volume of 409,230. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 38.94 and a beta of 1.04. Marten Transport, Ltd. has a one year low of $12.52 and a one year high of $19.26. The stock has a 50 day moving average of $13.37 and a 200 day moving average of $15.04.

Marten Transport (NASDAQ:MRTN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The transportation company reported $0.05 EPS for the quarter, meeting analysts' consensus estimates of $0.05. The company had revenue of $223.15 million during the quarter, compared to analysts' expectations of $228.79 million. Marten Transport had a return on equity of 3.52% and a net margin of 2.79%. Sell-side analysts predict that Marten Transport, Ltd. will post 0.41 EPS for the current fiscal year.

Marten Transport Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend is Friday, June 13th. Marten Transport's dividend payout ratio (DPR) is presently 88.89%.

Insider Activity at Marten Transport

In other news, Director Jerry M. Bauer purchased 20,000 shares of the company's stock in a transaction on Monday, April 28th. The stock was acquired at an average cost of $12.88 per share, for a total transaction of $257,600.00. Following the completion of the transaction, the director now directly owns 176,444 shares in the company, valued at $2,272,598.72. This trade represents a 12.78% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 22.90% of the stock is owned by company insiders.

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.