SPAR Group (NASDAQ:SGRP) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s Why

SPAR Group, Inc. (NASDAQ:SGRP) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.19 and traded as low as $2.10. SPAR Group shares last traded at $2.22, with a volume of 230,070 shares.

SPAR Group Stock Down 1.8 %

The firm has a market capitalization of $51.82 million, a P/E ratio of 4.33 and a beta of 0.71. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.06. The company has a 50 day simple moving average of $2.39 and a two-hundred day simple moving average of $2.19.

Insider Buying and Selling

In related news, major shareholder Robert G/ Brown sold 21,221 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $2.45, for a total value of $51,991.45. Following the completion of the transaction, the insider now owns 2,476,378 shares of the company’s stock, valued at approximately $6,067,126.10. This trade represents a 0.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have sold 342,540 shares of company stock worth $827,417. Corporate insiders own 59.66% of the company’s stock.

Institutional Trading of SPAR Group

Several hedge funds and other institutional investors have recently bought and sold shares of SGRP. Acadian Asset Management LLC bought a new stake in shares of SPAR Group during the second quarter worth $27,000. Renaissance Technologies LLC boosted its position in SPAR Group by 199.6% in the 2nd quarter. Renaissance Technologies LLC now owns 123,129 shares of the business services provider’s stock valued at $297,000 after buying an additional 82,029 shares during the period. IAM Advisory LLC bought a new position in SPAR Group in the 2nd quarter worth about $32,000. Dimensional Fund Advisors LP purchased a new position in shares of SPAR Group during the second quarter worth approximately $68,000. Finally, Geode Capital Management LLC raised its stake in shares of SPAR Group by 35.0% during the third quarter. Geode Capital Management LLC now owns 136,691 shares of the business services provider’s stock valued at $335,000 after acquiring an additional 35,450 shares in the last quarter. Hedge funds and other institutional investors own 9.57% of the company’s stock.

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.