Marten Transport (NASDAQ:MRTN) Shares Gap Up Following Insider Buying Activity

Marten Transport, Ltd. (NASDAQ:MRTN - Get Free Report) gapped up before the market opened on Wednesday following insider buying activity. The stock had previously closed at $12.87, but opened at $13.32. Marten Transport shares last traded at $12.66, with a volume of 67,653 shares.

Specifically, Director Jerry M. Bauer acquired 20,000 shares of the firm's stock in a transaction that occurred on Monday, April 28th. The stock was purchased at an average cost of $12.88 per share, for a total transaction of $257,600.00. Following the completion of the acquisition, the director now directly owns 176,444 shares of the company's stock, valued at $2,272,598.72. The trade was a 12.78 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Analysts Set New Price Targets

Separately, Stephens increased their target price on shares of Marten Transport from $18.00 to $19.00 and gave the stock an "overweight" rating in a report on Tuesday, January 28th.

Marten Transport Price Performance

The company has a market cap of $1.07 billion, a PE ratio of 38.47 and a beta of 1.04. The business has a fifty day simple moving average of $13.58 and a two-hundred day simple moving average of $15.24.

Marten Transport (NASDAQ:MRTN - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.05 EPS for the quarter, hitting the consensus estimate of $0.05. Marten Transport had a return on equity of 3.52% and a net margin of 2.79%. The firm had revenue of $223.15 million during the quarter, compared to analyst estimates of $228.79 million. On average, equities research analysts predict that Marten Transport, Ltd. will post 0.41 EPS for the current year.

Marten Transport Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend was Friday, March 14th. Marten Transport's dividend payout ratio is currently 88.89%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MRTN. Nuance Investments LLC boosted its stake in Marten Transport by 21.7% in the fourth quarter. Nuance Investments LLC now owns 3,196,811 shares of the transportation company's stock valued at $49,902,000 after acquiring an additional 569,700 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Marten Transport by 3,788.8% during the 4th quarter. US Bancorp DE now owns 263,425 shares of the transportation company's stock valued at $4,112,000 after purchasing an additional 256,651 shares during the last quarter. Millennium Management LLC boosted its position in shares of Marten Transport by 644.3% in the 4th quarter. Millennium Management LLC now owns 224,664 shares of the transportation company's stock worth $3,507,000 after purchasing an additional 194,481 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Marten Transport by 27.7% during the 4th quarter. JPMorgan Chase & Co. now owns 875,304 shares of the transportation company's stock worth $13,663,000 after buying an additional 189,996 shares during the last quarter. Finally, Hodges Capital Management Inc. increased its position in Marten Transport by 158.0% during the 4th quarter. Hodges Capital Management Inc. now owns 303,200 shares of the transportation company's stock valued at $4,732,000 after buying an additional 185,700 shares in the last quarter. Hedge funds and other institutional investors own 69.12% of the company's stock.

About Marten Transport

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.