Royce & Associates LP recently announced the acquisition of new stake in Manitex International Inc. (NASDAQ:MNTX). The institutional investor has increased its shareholding in the Industrials company by 2.51% to 1.48 million shares with purchase of 36280.0 shares. This fresh investment now brings its stake to 7.38% valued currently at $5.93 million. In addition, WealthTrust Axiom LLC raised its holdings by 7808.0 to 0.98 million shares. And Columbia Management Investment Ad has lifted its position by 3.89% or 36470.0 shares – to 0.97 million shares.
With over 0.14 million Manitex International Inc. (MNTX) shares trading Monday and a closing price of $4.18 on the day, the dollar volume was approximately $0.59 million. The shares have shown a negative half year performance of -33.55% and its price on 01/23/23 gained nearly 4.24%. Currently, there are 20.09M common shares owned by the public and among those 13.85M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for MNTX have a consensus price objective of $8.00. The analysts have set the share’s price value over the next 12 months at a high of $8.00 and a low of $8.00. The average price target is 47.75% above its recent price level and an upside to the estimated low will see the stock gain 47.75% over that period. But an upside of 47.75% will see the stock hit the forecast high price target while median target price for the stock is $8.00.
Insiders at the company have transacted a total of 21 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 15 of these insider trades were purchases, accounting for 694,500 shares. Insider sales of the common stock occurred on 6 occasions, with total insider shares sold totaling 8,243 shares.
The top 3 mutual fund holders in Manitex International Inc. are Royce Small-Cap Opportunity Fund, Columbia Small Cap Value Fund I, and Legg Mason Global Funds Plc – Roy. Royce Small-Cap Opportunity Fund owns 0.97 million shares of the company’s stock, all valued at over $3.87 million. The company bought an additional 37100.0 shares recently to bring their total holdings to about 4.81% of the shares outstanding. Legg Mason Global Funds Plc – Roy sold 4028.0 shares to bring its total holdings to over 0.47 million shares at a value of $1.89 million. Legg Mason Global Funds Plc – Roy now owns shares totaling to 2.35% of the shares outstanding.
Shares of Manitex International Inc. (NASDAQ: MNTX) opened at $4.03, up $0.02 from a prior closing price of $4.01. However, the script later moved the day high at 4.2100, up 4.24%. The company’s stock has a 5-day price change of 7.73% and -7.32% over the past three months. MNTX shares are trading 4.50% year to date (YTD), with the 12-month market performance down to -30.45% lower. It has a 12-month low price of $3.48 and touched a high of $8.19 over the same period. MNTX has an average intraday trading volume of 42.81K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 7.84%, -4.12%, and -27.14% respectively.
Institutional ownership of Manitex International Inc. (NASDAQ: MNTX) shares accounts for 51.70% of the company’s 20.09M shares outstanding. Mutual fund holders own 29.98%, while other institutional holders and individual stakeholders account for 52.99% and 19.02% respectively.
It has a market capitalization of $84.64M and a beta (3y monthly) value of 0.66. The earnings-per-share (ttm) stands at -$0.67. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.53% over the week and 7.35% over the month.
Analysts forecast that Manitex International Inc. (MNTX) will achieve an EPS of -$0.07 for the current quarter, $0.01 for the next quarter and $0.16 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.07 while analysts give the company a high EPS estimate of -$0.07. Comparatively, EPS for the current quarter was -$0.01 a year ago. Earnings per share for the fiscal year are expected to increase by 64.30%, and 5.88% over the next financial year. EPS should shrink at an annualized rate of 30.00% over the next five years, compared to 30.30% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Manitex International Inc. (MNTX) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
H.C. Wainwright was of a view on March 09, 2015 that the stock is Buy, while Singular Research gave the stock Buy rating on September 16, 2014, issuing a price target of $20- $16. Global Hunter Securities on their part issued Accumulate rating on August 27, 2014.