SPAR Group (NASDAQ:SGRP) Shares Pass Below 200-Day Moving Average – Here’s What Happened

SPAR Group, Inc. (NASDAQ:SGRP)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.16 and traded as low as $1.91. SPAR Group shares last traded at $1.97, with a volume of 43,398 shares traded.

SPAR Group Stock Up 1.5 %

The stock has a market capitalization of $46.20 million, a P/E ratio of 3.86 and a beta of 0.67. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.06. The firm’s fifty day moving average is $2.15 and its 200-day moving average is $2.16.

Insider Transactions at SPAR Group

In other SPAR Group news, major shareholder Robert G/ Brown sold 162,454 shares of the stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $2.40, for a total transaction of $389,889.60. Following the sale, the insider now owns 2,568,446 shares of the company’s stock, valued at $6,164,270.40. This represents a 5.95 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 342,540 shares of company stock valued at $827,417 in the last three months. 59.66% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SPAR Group

A number of large investors have recently modified their holdings of SGRP. XTX Topco Ltd acquired a new position in SPAR Group during the 2nd quarter worth $25,000. Acadian Asset Management LLC bought a new position in SPAR Group in the second quarter valued at about $27,000. Dimensional Fund Advisors LP acquired a new stake in SPAR Group in the second quarter worth about $68,000. Oddo BHF Asset Management Sas bought a new stake in SPAR Group during the 3rd quarter worth about $81,000. Finally, Corsair Capital Management L.P. lifted its position in SPAR Group by 3,205,200.0% during the 3rd 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. 9.57% of the stock is currently owned by institutional investors and hedge funds.

SPAR Group Company Profile

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.