Manitex International, Inc. (NASDAQ:MNTX) Sees Large Drop in Short Interest

Manitex International, Inc. (NASDAQ:MNTXGet Free Report) was the recipient of a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 189,700 shares, a decrease of 18.4% from the February 29th total of 232,500 shares. Based on an average trading volume of 71,500 shares, the days-to-cover ratio is presently 2.7 days. Approximately 1.4% of the shares of the company are short sold.

Institutional Investors Weigh In On Manitex International

Hedge funds have recently modified their holdings of the company. Cannell Capital LLC increased its stake in shares of Manitex International by 0.6% in the 2nd quarter. Cannell Capital LLC now owns 437,912 shares of the industrial products company’s stock valued at $2,382,000 after purchasing an additional 2,429 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Manitex International in the fourth quarter valued at approximately $27,000. BlackRock Inc. raised its stake in shares of Manitex International by 6.5% during the 1st quarter. BlackRock Inc. now owns 56,203 shares of the industrial products company’s stock worth $293,000 after buying an additional 3,437 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Manitex International by 0.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 897,523 shares of the industrial products company’s stock valued at $4,191,000 after buying an additional 4,307 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in Manitex International by 4.8% in the 1st quarter. Renaissance Technologies LLC now owns 99,540 shares of the industrial products company’s stock valued at $519,000 after acquiring an additional 4,600 shares during the period. 46.01% of the stock is owned by hedge funds and other institutional investors.

Manitex International Trading Down 7.2 %

Shares of NASDAQ:MNTX opened at $6.86 on Friday. The company has a current ratio of 1.57, a quick ratio of 0.68 and a debt-to-equity ratio of 0.86. Manitex International has a 12-month low of $3.72 and a 12-month high of $9.16. The business has a 50 day moving average of $7.07 and a two-hundred day moving average of $6.48. The company has a market capitalization of $139.05 million, a PE ratio of 19.06 and a beta of 0.79.

Manitex International (NASDAQ:MNTXGet Free Report) last posted its earnings results on Thursday, February 29th. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.19. The firm had revenue of $78.65 million during the quarter, compared to analysts’ expectations of $74.83 million. Manitex International had a net margin of 2.52% and a return on equity of 16.98%. As a group, analysts forecast that Manitex International will post 0.39 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, upgraded shares of Manitex International from a “hold” rating to a “buy” rating in a research report on Saturday, March 9th.

Get Our Latest Stock Report on Manitex International

Manitex International Company Profile

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Manitex International, Inc provides engineered lifting solutions in the United States, Italy, Canada, Chile, France, and internationally. The company designs, manufactures, and distributes products that are used in various industries. It also offers boom trucks, truck cranes, and sign cranes products primarily for use in industrial projects, energy exploration, and infrastructure development comprising roads, bridges, and commercial construction; and truck-mounted aerial platforms.

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