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

SPAR Group, Inc. (NASDAQ:SGRP)’s stock 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 changing hands.

SPAR Group Stock Down 1.0 %

The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.77 and a current ratio of 1.77. The company has a market cap of $45.73 million, a PE ratio of 3.82 and a beta of 0.69. The firm has a fifty day simple moving average of $2.14 and a 200 day simple moving average of $2.15.

Insiders Place Their Bets

In related news, major shareholder Robert G/ Brown sold 162,454 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $2.40, for a total value of $389,889.60. Following the completion of the sale, the insider now owns 2,568,446 shares in the company, valued at approximately $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 the SEC website. Insiders sold a total of 342,540 shares of company stock valued at $827,417 over the last 90 days. 59.66% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new position in SPAR Group in the second quarter valued at about $27,000. Dimensional Fund Advisors LP acquired a new position in SPAR Group in the 2nd quarter worth about $68,000. Renaissance Technologies LLC boosted its holdings in SPAR Group by 199.6% in the second quarter. Renaissance Technologies LLC now owns 123,129 shares of the business services provider’s stock valued at $297,000 after acquiring an additional 82,029 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of SPAR Group in the 2nd quarter valued at $25,000. Finally, Corsair Capital Management L.P. boosted its holdings in SPAR Group by 3,205,200.0% in the third quarter. Corsair Capital Management L.P. now owns 64,106 shares of the business services provider’s stock worth $157,000 after acquiring an additional 64,104 shares in the last quarter. 9.57% of the stock is currently owned by institutional investors and hedge funds.

About SPAR Group

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.