Gabelli Funds LLC Sells 4,000 Shares of The Shyft Group, Inc. (NASDAQ:SHYF)

Gabelli Funds LLC trimmed its position in The Shyft Group, Inc. (NASDAQ:SHYF) by 5.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 64,500 shares of the company’s stock after selling 4,000 shares during the period. Gabelli Funds LLC’s holdings in The Shyft Group were worth $765,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of SHYF. Price T Rowe Associates Inc. MD raised its stake in The Shyft Group by 4.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 30,465 shares of the company’s stock valued at $379,000 after buying an additional 1,231 shares during the last quarter. Quest Partners LLC increased its holdings in shares of The Shyft Group by 21.2% during the second quarter. Quest Partners LLC now owns 10,098 shares of the company’s stock valued at $120,000 after acquiring an additional 1,768 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of The Shyft Group during the second quarter valued at about $26,000. Motco purchased a new position in shares of The Shyft Group in the 1st quarter valued at approximately $39,000. Finally, CWM LLC boosted its stake in The Shyft Group by 260.9% in the 2nd quarter. CWM LLC now owns 4,731 shares of the company’s stock worth $56,000 after purchasing an additional 3,420 shares in the last quarter. 85.84% of the stock is owned by hedge funds and other institutional investors.

The Shyft Group Stock Up 0.2 %

SHYF stock opened at $12.39 on Friday. The company has a market capitalization of $426.96 million, a P/E ratio of -1,237.00 and a beta of 1.65. The Shyft Group, Inc. has a 12 month low of $9.81 and a 12 month high of $17.56. The firm’s fifty day simple moving average is $13.37 and its 200-day simple moving average is $12.35. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.86 and a quick ratio of 1.19.

The Shyft Group (NASDAQ:SHYF) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.07 by $0.09. The company had revenue of $192.80 million for the quarter, compared to analyst estimates of $201.49 million. The Shyft Group had a negative net margin of 0.30% and a positive return on equity of 1.22%. The firm’s revenue was down 14.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.22 earnings per share. As a group, equities research analysts forecast that The Shyft Group, Inc. will post 0.29 earnings per share for the current year.

The Shyft Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 16th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.61%. The ex-dividend date was Friday, August 16th. The Shyft Group’s dividend payout ratio is currently -2,000.00%.

Analysts Set New Price Targets

Separately, DA Davidson upgraded The Shyft Group from a “neutral” rating to a “buy” rating and boosted their price target for the company from $12.00 to $18.00 in a research note on Monday, July 29th.

The Shyft Group Company Profile

The Shyft Group, Inc engages in the manufacture and assembly of specialty vehicles for the commercial and recreational vehicle industries in the United States and internationally. It operates in two segments, Fleet Vehicles and Services, and Specialty Vehicles. The Fleet Vehicles and Services segment offers commercial vehicles used in the e-commerce/last mile/parcel delivery, beverage and grocery delivery, laundry and linen, mobile retail, and trades and construction industries.