Marten Transport (NASDAQ:MRTN) Rating Lowered to Sell at Wall Street Zen

Key Points

• Marten Transport's stock rating has been downgraded by Wall Street Zen from "hold" to "sell," indicating a shift in sentiment regarding the company's future performance.
• The company reported quarterly earnings of $0.09 per share, which matched analysts' expectations, but revenue fell short compared to estimates and was down 6.6% year-over-year.
• Institutional investors have been active, with significant stakes increases from firms such as Parallel Advisors and Tower Research Capital, indicating continued interest in the company despite the downgrade.

Marten Transport (NASDAQ:MRTN - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday.

Marten Transport Price Performance

NASDAQ MRTN traded up $0.15 during trading on Friday, hitting $11.76. The company's stock had a trading volume of 801,823 shares, compared to its average volume of 569,254. Marten Transport has a fifty-two week low of $11.43 and a fifty-two week high of $18.63. The company has a market cap of $958.68 million, a PE ratio of 45.23 and a beta of 0.99. The business's 50 day simple moving average is $12.54 and its 200-day simple moving average is $13.16.

Marten Transport (NASDAQ:MRTN - Get Free Report) last released its earnings results on Wednesday, July 16th. The transportation company reported $0.09 earnings per share for the quarter, hitting the consensus estimate of $0.09. The company had revenue of $229.92 million for the quarter, compared to the consensus estimate of $231.09 million. Marten Transport had a net margin of 2.27% and a return on equity of 2.72%. Marten Transport's revenue was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.10 EPS. Analysts expect that Marten Transport will post 0.41 EPS for the current fiscal year.

Institutional Investors Weigh In On Marten Transport

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hudson Bay Capital Management LP lifted its holdings in shares of Marten Transport by 69.7% in the 2nd quarter. Hudson Bay Capital Management LP now owns 100,118 shares of the transportation company's stock valued at $1,301,000 after buying an additional 41,118 shares during the period. Caxton Associates LLP lifted its holdings in Marten Transport by 239.9% in the second quarter. Caxton Associates LLP now owns 39,110 shares of the transportation company's stock valued at $508,000 after acquiring an additional 27,602 shares during the period. Public Sector Pension Investment Board boosted its position in Marten Transport by 7.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 196,937 shares of the transportation company's stock worth $2,558,000 after purchasing an additional 13,538 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Marten Transport by 378.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,610 shares of the transportation company's stock worth $73,000 after purchasing an additional 4,438 shares during the period. Finally, Oxford Asset Management LLP purchased a new position in shares of Marten Transport during the 2nd quarter valued at approximately $263,000. 69.12% of the stock is owned by institutional investors and hedge funds.

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.