SPAR Group (NASDAQ:SGRP) Share Price Passes Below 200-Day Moving Average – What’s Next?

SPAR Group, Inc. (NASDAQ:SGRP)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.18 and traded as low as $1.91. SPAR Group shares last traded at $1.93, with a volume of 59,178 shares.

SPAR Group Price Performance

The firm has a market capitalization of $45.26 million, a P/E ratio of 3.78 and a beta of 0.67. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.77 and a quick ratio of 1.77. The stock’s fifty day simple moving average is $2.23 and its 200 day simple moving average is $2.18.

Insider Buying and Selling at SPAR Group

In other SPAR Group news, major shareholder Robert G/ Brown sold 94,900 shares of the stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $2.43, for a total value of $230,607.00. Following the completion of the sale, the insider now directly owns 2,736,799 shares in the company, valued at approximately $6,650,421.57. This trade represents a 3.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 342,540 shares of company stock worth $827,417 over the last three months. Corporate insiders own 59.66% of the company’s stock.

Hedge Funds Weigh In On SPAR Group

Several hedge funds and other institutional investors have recently modified their holdings of SGRP. XTX Topco Ltd acquired a new position in SPAR Group during the 2nd quarter valued at approximately $25,000. Acadian Asset Management LLC purchased a new stake in shares of SPAR Group during the second quarter valued at $27,000. Dimensional Fund Advisors LP acquired a new position in shares of SPAR Group in the 2nd quarter valued at $68,000. Oddo BHF Asset Management Sas purchased a new position in SPAR Group in the 3rd quarter worth $81,000. Finally, Corsair Capital Management L.P. lifted its position in SPAR Group by 3,205,200.0% during the 3rd 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 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.