Kalos Management Lowers stake in Sparton Corporation (SPA)

Sparton Corporation (SPA) : Kalos Management reduced its stake in Sparton Corporation by 1.25% during the most recent quarter end. The investment management company now holds a total of 33,478 shares of Sparton Corporation which is valued at $707,055 after selling 424 shares in Sparton Corporation , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Sparton Corporation makes up approximately 0.53% of Kalos Management’s portfolio.

Other Hedge Funds, Including , California State Teachers Retirement System reduced its stake in SPA by selling 1,381 shares or 6.56% in the most recent quarter. The Hedge Fund company now holds 19,658 shares of SPA which is valued at $415,177.North Star Investment Management Corp. reduced its stake in SPA by selling 55,843 shares or 72.22% in the most recent quarter. The Hedge Fund company now holds 21,478 shares of SPA which is valued at $482,396. Sparton Corporation makes up approx 0.09% of North Star Investment Management Corp.’s portfolio.Cutler Group Lp boosted its stake in SPA in the latest quarter, The investment management firm added 8,601 additional shares and now holds a total of 10,144 shares of Sparton Corporation which is valued at $227,834. Sparton Corporation makes up approx 0.02% of Cutler Group Lp’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in SPA in the latest quarter, The investment management firm added 57 additional shares and now holds a total of 372 shares of Sparton Corporation which is valued at $8,552.

Sparton Corporation opened for trading at $21.12 and hit $21.43 on the upside on Thursday, eventually ending the session at $21.24, with a gain of 0.57% or 0.12 points. The heightened volatility saw the trading volume jump to 27,106 shares. Company has a market cap of $209 M.

On the company’s financial health, Sparton Corporation reported $0.34 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on May 3, 2016. Analyst had a consensus of $0.33. The company had revenue of $102.20 million for the quarter, compared to analysts expectations of $105.16 million. The company’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS.

Many Wall Street Analysts have commented on Sparton Corporation. Sparton Corporation was Downgraded by Sidoti to ” Neutral” on May 4, 2016.

Sparton Corporation through its subsidiaries provides design development and manufacturing services for complex electromechanical devices as well as sophisticated engineered products. The Company operates in two segments: Manufacturing & Design Services (MDS) and Engineered Components & Products (ECP). Its MDS segment consists of contract design manufacturing and aftermarket repair and refurbishment of sophisticated printed circuit card assemblies sub-assemblies full product assemblies and cable/wire harnesses. Its ECP segment consists of design development and production of products for both domestic and foreign defense as well as commercial needs. Its products and services include offerings for original equipment manufacturers (OEMs) and emerging technology (ET) customers that utilize microprocessor-based systems which include transducers sensors and electromechanical components as well as development and design engineering services relating to these product sales.

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