SPAR Group (NASDAQ:SGRP) Share Price Crosses Below Two Hundred Day Moving Average – What’s Next?

Shares of SPAR Group, Inc. (NASDAQ:SGRP) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.19 and traded as low as $2.10. SPAR Group shares last traded at $2.22, with a volume of 230,070 shares trading hands.

SPAR Group Stock Performance

The stock has a market capitalization of $52.06 million, a price-to-earnings ratio of 4.19 and a beta of 0.71. The firm has a fifty day moving average of $2.40 and a 200 day moving average of $2.19. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.77 and a quick ratio of 1.77.

Insiders Place Their Bets

In related news, major shareholder Robert G/ Brown sold 94,900 shares of the stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $2.43, for a total value of $230,607.00. Following the completion of the sale, the insider now owns 2,736,799 shares of the company’s stock, valued at approximately $6,650,421.57. This trade represents a 3.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders have sold 342,540 shares of company stock worth $827,417. 59.66% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SPAR Group

A number of institutional investors have recently modified their holdings of the company. Geode Capital Management LLC grew its stake in shares of SPAR Group by 35.0% in the third quarter. Geode Capital Management LLC now owns 136,691 shares of the business services provider’s stock valued at $335,000 after buying an additional 35,450 shares in the last quarter. Murchinson Ltd. purchased a new position in SPAR Group in the third quarter valued at $196,000. Corsair Capital Management L.P. boosted its holdings in SPAR Group by 3,205,200.0% in the third quarter. Corsair Capital Management L.P. now owns 64,106 shares of the business services provider’s stock valued at $157,000 after purchasing an additional 64,104 shares during the period. XTX Topco Ltd purchased a new position in SPAR Group in the second quarter valued at $25,000. Finally, Renaissance Technologies LLC boosted its holdings in SPAR Group by 199.6% in the second quarter. Renaissance Technologies LLC now owns 123,129 shares of the business services provider’s stock valued at $297,000 after purchasing an additional 82,029 shares during the period. 9.57% of the stock is owned by institutional investors and hedge funds.

About SPAR Group

SPAR Group, Inc, together with its subsidiaries, provides merchandising and brand marketing services in the Americas, the Asia-Pacific, Europe, Middle East, and Africa. The company offers merchandising and marketing services, such as resets and cut-ins; price and inventory audits; stock replenishment and rotation services; out of stock management; promotional event setup; and display management, as well as category management and set up services comprising category and product resets; planogram maintenance; display and shelf services; and point of purchase installation and management.