Cubist Systematic Strategies LLC decreased its holdings in The Shyft Group, Inc. (NASDAQ:SHYF – Get Rating) by 61.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,585 shares of the company's stock after selling 59,143 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.10% of The Shyft Group worth $747,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC raised its position in The Shyft Group by 49.1% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,745 shares of the company's stock valued at $32,000 after purchasing an additional 575 shares during the last quarter. Point72 Hong Kong Ltd raised its position in The Shyft Group by 548.0% in the 1st quarter. Point72 Hong Kong Ltd now owns 1,756 shares of the company's stock valued at $63,000 after purchasing an additional 1,485 shares during the last quarter. UBS Group AG raised its position in The Shyft Group by 57.5% in the 3rd quarter. UBS Group AG now owns 3,050 shares of the company's stock valued at $63,000 after purchasing an additional 1,114 shares during the last quarter. Tower Research Capital LLC TRC raised its position in The Shyft Group by 261.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 4,691 shares of the company's stock valued at $96,000 after purchasing an additional 3,394 shares during the last quarter. Finally, Great West Life Assurance Co. Can raised its position in The Shyft Group by 296.1% in the 3rd quarter. Great West Life Assurance Co. Can now owns 6,168 shares of the company's stock valued at $126,000 after purchasing an additional 4,611 shares during the last quarter. Hedge funds and other institutional investors own 80.17% of the company's stock.
Get The Shyft Group alerts:Wall Street Analyst Weigh In
Several analysts recently commented on the stock. TheStreet upgraded shares of The Shyft Group from a "c+" rating to a "b-" rating in a research report on Thursday, January 26th. Raymond James cut their price objective on shares of The Shyft Group from $40.00 to $30.00 and set a "strong-buy" rating for the company in a research report on Friday, February 24th. BTIG Research started coverage on shares of The Shyft Group in a research report on Thursday, January 19th. They set a "buy" rating and a $40.00 price objective for the company. Finally, DA Davidson cut their price objective on shares of The Shyft Group from $38.00 to $32.00 and set a "buy" rating for the company in a research report on Friday, February 24th.
Insider Transactions at The Shyft Group
In related news, insider Stephen K. Guillaume sold 4,000 shares of the stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $26.58, for a total value of $106,320.00. Following the sale, the insider now directly owns 67,792 shares of the company's stock, valued at approximately $1,801,911.36. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Stephen K. Guillaume sold 4,000 shares of the stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $26.58, for a total value of $106,320.00. Following the sale, the insider now directly owns 67,792 shares of the company's stock, valued at approximately $1,801,911.36. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Stephen K. Guillaume sold 2,000 shares of the stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $26.83, for a total transaction of $53,660.00. Following the completion of the sale, the insider now directly owns 73,792 shares in the company, valued at $1,979,839.36. The disclosure for this sale can be found here. Corporate insiders own 2.26% of the company's stock.
The Shyft Group Stock Performance
NASDAQ:SHYF opened at $24.53 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.72 and a debt-to-equity ratio of 0.21. The Shyft Group, Inc. has a fifty-two week low of $17.66 and a fifty-two week high of $41.63. The stock has a market cap of $863.95 million, a PE ratio of 23.82 and a beta of 1.97. The firm's fifty day simple moving average is $29.66 and its 200-day simple moving average is $25.46.
The Shyft Group Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, March 17th. Stockholders of record on Friday, February 17th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, February 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.82%. The Shyft Group's dividend payout ratio (DPR) is presently 19.42%.
The Shyft Group Profile
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The Shyft Group, Inc engages in vehicle manufacturing and assembly for the commercial and retail vehicle industries as well as for the emergency response and recreational vehicle markets. It operates through the Fleet Vehicles and Services, and Specialty Vehicles segments. The Fleet Vehicles and Services segment manufactures commercial vehicles used in the e-commerce/last mile/parcel delivery, beverage and grocery delivery, mobile retail, and trades and construction industries.
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