The Shyft Group, Inc. (NASDAQ:SHYF) Short Interest Update

The Shyft Group, Inc. (NASDAQ:SHYF) saw a large decrease in short interest in December. As of December 31st, there was short interest totalling 532,200 shares, a decrease of 52.9% from the December 15th total of 1,130,000 shares. Approximately 1.7% of the company’s shares are short sold. Based on an average daily volume of 261,000 shares, the short-interest ratio is currently 2.0 days.

Institutional Investors Weigh In On The Shyft Group

Hedge funds have recently bought and sold shares of the business. Essex Investment Management Co. LLC acquired a new position in The Shyft Group during the 3rd quarter worth $2,292,000. Federated Hermes Inc. raised its position in shares of The Shyft Group by 15.6% during the 2nd quarter. Federated Hermes Inc. now owns 666,679 shares of the company’s stock valued at $7,907,000 after acquiring an additional 89,951 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in The Shyft Group by 16.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 564,242 shares of the company’s stock worth $7,081,000 after purchasing an additional 78,550 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in The Shyft Group by 49.9% in the third quarter. JPMorgan Chase & Co. now owns 176,601 shares of the company’s stock worth $2,216,000 after purchasing an additional 58,816 shares during the period. Finally, Marshall Wace LLP bought a new stake in The Shyft Group during the second quarter valued at $523,000. Institutional investors and hedge funds own 85.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SHYF. DA Davidson upgraded shares of The Shyft Group from a “neutral” rating to a “buy” rating and set a $15.00 target price on the stock in a research report on Wednesday. Roth Mkm reissued a “buy” rating and set a $16.00 target price on shares of The Shyft Group in a research report on Tuesday, December 17th.

The Shyft Group Stock Down 0.2 %

Shares of SHYF traded down $0.03 during mid-day trading on Thursday, reaching $12.33. 227,917 shares of the stock traded hands, compared to its average volume of 251,552. The firm has a market cap of $425.26 million, a price-to-earnings ratio of -102.75 and a beta of 1.66. The stock has a fifty day simple moving average of $12.72 and a 200 day simple moving average of $12.74. The company has a quick ratio of 1.16, a current ratio of 1.82 and a debt-to-equity ratio of 0.44. The Shyft Group has a 12-month low of $9.81 and a 12-month high of $17.56.

The Shyft Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 15th were given a $0.05 dividend. The ex-dividend date was Friday, November 15th. This represents a $0.20 dividend on an annualized basis and a yield of 1.62%. The Shyft Group’s payout ratio is currently -166.67%.

About The Shyft Group

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.