SPAR Group, Inc. (NASDAQ:SGRP) Sees Large Growth in Short Interest

SPAR Group, Inc. (NASDAQ:SGRP) was the recipient of a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 40,600 shares, a growth of 38.1% from the October 31st total of 29,400 shares. Approximately 0.3% of the shares of the company are sold short. Based on an average daily trading volume, of 200,200 shares, the days-to-cover ratio is presently 0.2 days.

SPAR Group Stock Performance

SGRP stock remained flat at $2.23 on Friday. 9,159 shares of the company traded hands, compared to its average volume of 208,421. The stock has a market capitalization of $52.29 million, a PE ratio of 4.37 and a beta of 0.71. The firm’s 50-day simple moving average is $2.37 and its 200 day simple moving average is $2.21. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.06. SPAR Group has a 1 year low of $0.70 and a 1 year high of $3.12.

Insider Buying and Selling

In other news, major shareholder Robert G/ Brown sold 21,221 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $2.45, for a total value of $51,991.45. Following the completion of the sale, the insider now directly owns 2,476,378 shares of the company’s stock, valued at approximately $6,067,126.10. This represents a 0.85 % decrease in their ownership of the stock. The transaction 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 worth $827,417 in the last quarter. 59.66% of the stock is owned by insiders.

Institutional Investors Weigh In On SPAR Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. XTX Topco Ltd acquired a new position in SPAR Group in the 2nd quarter valued at about $25,000. Acadian Asset Management LLC purchased a new position in shares of SPAR Group in the 2nd quarter valued at approximately $27,000. IAM Advisory LLC acquired a new position in shares of SPAR Group in the second quarter valued at approximately $32,000. Dimensional Fund Advisors LP purchased a new stake in shares of SPAR Group during the second quarter worth approximately $68,000. Finally, Corsair Capital Management L.P. lifted its holdings in shares of SPAR Group by 3,205,200.0% during the third quarter. Corsair Capital Management L.P. now owns 64,106 shares of the business services provider’s stock worth $157,000 after purchasing an additional 64,104 shares during the period. 9.57% of the stock is owned by hedge funds and other institutional investors.

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.