Cannell Capital LLC lifted its position in Manitex International Inc (NASDAQ:MNTX) by 36.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 101,758 shares of the industrial products company’s stock after buying an additional 27,228 shares during the period. Cannell Capital LLC’s holdings in Manitex International were worth $1,270,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of MNTX. Acadian Asset Management LLC bought a new position in shares of Manitex International in the second quarter worth approximately $116,000. Element Capital Management LLC bought a new position in shares of Manitex International in the first quarter worth approximately $142,000. Rhumbline Advisers bought a new position in shares of Manitex International in the second quarter worth approximately $152,000. Private Advisor Group LLC bought a new position in shares of Manitex International in the second quarter worth approximately $166,000. Finally, Argent Capital Management LLC bought a new position in shares of Manitex International in the second quarter worth approximately $274,000. Hedge funds and other institutional investors own 56.36% of the company’s stock.
Several brokerages have recently issued reports on MNTX. TheStreet upgraded shares of Manitex International from a “d” rating to a “c” rating in a research note on Wednesday, August 15th. Zacks Investment Research upgraded shares of Manitex International from a “sell” rating to a “hold” rating in a research report on Thursday, August 9th. Finally, ValuEngine upgraded shares of Manitex International from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 26th.
In related news, Director Robert S. Gigliotti sold 4,400 shares of the stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $11.71, for a total transaction of $51,524.00. Following the transaction, the director now owns 83,750 shares in the company, valued at $980,712.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 6.78% of the stock is owned by corporate insiders.
Shares of Manitex International stock opened at $11.06 on Thursday. The company has a market cap of $207.44 million, a P/E ratio of 37.79 and a beta of 1.30. Manitex International Inc has a twelve month low of $7.28 and a twelve month high of $13.26. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.96 and a current ratio of 1.79.
Manitex International (NASDAQ:MNTX) last issued its quarterly earnings data on Tuesday, August 7th. The industrial products company reported $0.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.01). The company had revenue of $63.90 million for the quarter, compared to the consensus estimate of $62.05 million. Manitex International had a negative net margin of 1.98% and a positive return on equity of 6.07%. research analysts anticipate that Manitex International Inc will post 0.44 earnings per share for the current fiscal year.
Manitex International Profile
Manitex International, Inc provides engineered lifting solutions. The company designs, manufactures, and distributes products that are used in various industries. It offers boom trucks and crane products primarily for use in industrial projects, energy exploration, and infrastructure development, including roads, bridges, and commercial construction.
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