SPAR Group (NASDAQ:SGRP) Stock Price Crosses Below 200 Day Moving Average – What’s Next?

SPAR Group, Inc. (NASDAQ:SGRP)’s stock price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.12 and traded as low as $1.80. SPAR Group shares last traded at $1.83, with a volume of 116,845 shares traded.

SPAR Group Stock Performance

The stock’s fifty day simple moving average is $2.01 and its two-hundred day simple moving average is $2.12. The company has a market cap of $45.49 million, a price-to-earnings ratio of 3.80 and a beta of 0.69. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.77 and a current ratio of 1.77.

Insider Activity at SPAR Group

In related news, major shareholder Robert G/ Brown sold 21,221 shares of the stock in a transaction dated Monday, October 28th. The stock was 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 represents a 0.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 45,060 shares of company stock worth $99,682. 59.66% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SPAR Group

A number of hedge funds have recently bought and sold shares of SGRP. Dimensional Fund Advisors LP bought a new stake in SPAR Group in the second quarter valued at $68,000. Renaissance Technologies LLC increased its holdings in shares of SPAR Group by 199.6% in the 2nd quarter. Renaissance Technologies LLC now owns 123,129 shares of the business services provider’s stock worth $297,000 after acquiring an additional 82,029 shares during the period. XTX Topco Ltd bought a new stake in SPAR Group in the 2nd quarter valued at about $25,000. Corsair Capital Management L.P. lifted its position in SPAR Group by 3,205,200.0% in the 3rd quarter. Corsair Capital Management L.P. now owns 64,106 shares of the business services provider’s stock valued at $157,000 after purchasing an additional 64,104 shares during the last quarter. Finally, Murchinson Ltd. bought a new position in SPAR Group in the 3rd quarter worth about $196,000. 9.57% of the stock is currently owned by institutional investors and hedge funds.

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.