A prominent investment and financial firm, Shufro Rose & Co. LLC announced its decision to significantly reduce its stake in Manitex International, Inc. (NASDAQ:MNTX) during the fourth quarter of 2022. According to the latest Form 13F filing with the Securities and Exchange Commission (SEC), Shufro Rose & Co. LLC sold as much as 75.8% of its previous holdings, translating to a sales figure of 125,000 shares.
The New York-based firm had previously owned a total of 40,002 shares of Manitex International before the strategic move to sell off a significant portion of its investments in the industrial products company. As a result of this sale-off exercise, Shufro Rose & Co. LLC now owns approximately 0.20% of Manitex International’s worth amounting to $160,000.
This recent action by Shufro Rose & Co. LLC does not come as a surprise as it aligns with observed market trends where companies are showing increasing caution and adopting more conservative approaches towards investing in stocks due to prevailing economic uncertainties and market volatilities.
Manitex International is renowned for delivering reliable lifting solutions across various industry sectors such as energy exploration, infrastructure support, and construction equipment supply chain management operations worldwide.
With this development from Shufro Rose & Co. LLC firmly established in the SEC filing records for Q4 2022 – which covers October through December – stakeholders will keep an eye on potential ripple effects that may arise from such decisions moving forward into Q1 2023.
As businesses continue to navigate the unprecedented challenges associated with global pandemics and shifting market forces – prudent investment strategies amidst such uncertainties are fast becoming essential in preserving long-term value for shareholders’ wealth for both local and international players across diverse sectors alike.
Investors Make Moves on Manitex International: Key Takeaways for Potential Shareholders
In recent news, several large investors have made modifications to their holdings of Manitex International. Royce & Associates LP has raised its position in the company by 2.5%, now owning over 1.4 million shares valued at $8.5 million. Wedbush Securities Inc. also grew its stake in the company by 18.4%, now owning over 172,000 shares valued at $986,000.
Additionally, Eqis Capital Management Inc. acquired a new position in Manitex International and WealthTrust Axiom LLC grew its stake by 0.8% in the third quarter of last year. Essex Investment Management Co., LLC also grew its stake by 2.9%.
The industrial products company specializes in engineered lifting solutions and operates through five different operating units: Manitex, Badger, PM Group, Valla, and C&M. Their products include cranes and machinery.
StockNews.com recently started covering Manitex International and issued a “hold” rating on the stock as of Thursday, March 16th.
With nearly half of the stock being owned by institutional investors, it’s clear that Manitex International is an attractive option for those looking to grow their portfolio with a reputable and established company.
However, before considering investing in Manitex International or any other stocks, it’s important to conduct thorough research and consult with a financial advisor to make informed decisions based on individual circumstances and goals.