Alliancebernstein L.P. Sells 232,670 Shares of The Shyft Group, Inc. (NASDAQ:SHYF)

Alliancebernstein L.P. reduced its stake in shares of The Shyft Group, Inc. (NASDAQ:SHYF) by 90.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,090 shares of the company’s stock after selling 232,670 shares during the quarter. Alliancebernstein L.P. owned 0.07% of The Shyft Group worth $283,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of SHYF. Murphy & Mullick Capital Management Corp bought a new stake in shares of The Shyft Group in the fourth quarter valued at about $41,000. Quantbot Technologies LP bought a new stake in shares of The Shyft Group during the fourth quarter valued at approximately $48,000. FMR LLC raised its stake in shares of The Shyft Group by 301.4% in the third quarter. FMR LLC now owns 7,726 shares of the company’s stock valued at $97,000 after purchasing an additional 5,801 shares in the last quarter. Raymond James Financial Inc. bought a new position in The Shyft Group in the fourth quarter worth $209,000. Finally, SG Americas Securities LLC boosted its stake in The Shyft Group by 24.3% during the fourth quarter. SG Americas Securities LLC now owns 18,274 shares of the company’s stock worth $215,000 after buying an additional 3,575 shares in the last quarter. 85.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, DA Davidson raised shares of The Shyft Group from a “neutral” rating to a “buy” rating and set a $15.00 price objective for the company in a report on Wednesday, January 15th.

The Shyft Group Price Performance

The Shyft Group stock opened at $7.13 on Tuesday. The business has a 50 day simple moving average of $9.21 and a 200 day simple moving average of $11.38. The Shyft Group, Inc. has a one year low of $6.90 and a one year high of $17.56. The company has a market capitalization of $249.07 million, a PE ratio of -79.21 and a beta of 1.83. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.82 and a quick ratio of 1.16.

The Shyft Group (NASDAQ:SHYF) last issued its earnings results on Thursday, February 20th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.09). The firm had revenue of $201.43 million during the quarter, compared to analyst estimates of $211.90 million. The Shyft Group had a negative net margin of 0.36% and a positive return on equity of 2.75%. On average, sell-side analysts forecast that The Shyft Group, Inc. will post 0.68 EPS for the current fiscal year.

The Shyft Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Thursday, February 27th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date was Thursday, February 27th. The Shyft Group’s dividend payout ratio (DPR) is currently -222.22%.

The Shyft Group 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.