Cubist Systematic Strategies LLC Trims Stock Holdings in The Shyft Group, Inc. (NASDAQ:SHYF)

Cubist Systematic Strategies LLC decreased its stake in The Shyft Group, Inc. (NASDAQ:SHYF) by 82.5% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 14,953 shares of the company’s stock after selling 70,709 shares during the period. Cubist Systematic Strategies LLC’s holdings in The Shyft Group were worth $177,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. nVerses Capital LLC purchased a new stake in The Shyft Group in the second quarter worth about $26,000. Motco bought a new position in shares of The Shyft Group in the first quarter worth about $39,000. CWM LLC boosted its stake in shares of The Shyft Group by 260.9% in the second quarter. CWM LLC now owns 4,731 shares of the company’s stock worth $56,000 after acquiring an additional 3,420 shares during the period. Point72 Asset Management L.P. bought a new position in shares of The Shyft Group in the second quarter worth about $59,000. Finally, Point72 DIFC Ltd bought a new position in shares of The Shyft Group in the second quarter worth about $60,000. Hedge funds and other institutional investors own 85.84% of the company’s stock.

Analyst Upgrades and Downgrades

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

The Shyft Group Price Performance

Shares of The Shyft Group stock opened at $12.23 on Tuesday. The stock has a 50 day moving average of $12.91 and a 200 day moving average of $12.42. The Shyft Group, Inc. has a 12 month low of $9.81 and a 12 month high of $17.56. The firm has a market cap of $420.39 million, a PE ratio of -1,223.00 and a beta of 1.65. The company has a current ratio of 1.86, a quick ratio of 1.19 and a debt-to-equity ratio of 0.26.

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

The Shyft Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Friday, August 16th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Friday, August 16th. The Shyft Group’s payout ratio is -2,000.00%.

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.