Spar Group Inc. affiliated entity sells shares worth $17,317

WEST PALM BEACH, FL—SPAR Business Services Inc., an entity affiliated with Robert G. Brown, disclosed a recent sale of shares in SPAR Group, Inc. (NASDAQ:SGRP), a $40.6 million market cap company that has delivered an impressive 78% return over the past year. According to a Form 4 filing with the Securities and Exchange Commission, the company sold 9,361 shares of SPAR Group's common stock on January 16, 2025, at a price of $1.85 per share, totaling $17,317. InvestingPro analysis indicates the stock is currently undervalued, with analysts setting a $7 price target.

Following the transaction, SPAR Business Services Inc. holds 1,026,149 shares of SPAR Group. This transaction was reported as a direct ownership sale by the affiliated entity. The company's business address is located at 7711 N Military Trail, Suite 1000, West Palm Beach, Florida. Trading at just 3.5 times earnings with a strong financial health score, SGRP shows promising fundamentals. Discover more insights and 10+ additional ProTips with a subscription to InvestingPro.

In other recent news, SPAR Group, a global merchandising and marketing services provider, is moving forward with its merger with Highwire Capital. The all-cash acquisition, which received unanimous approval from SPAR Group's Board of Directors, is set to proceed following stockholder approval. Both Mike Matacunas, President and CEO of SPAR Group, and Rob Wilson, CEO of Highwire Capital, have expressed their commitment to completing the transaction. This development is part of SPAR Group's strategic initiatives to expand its capabilities.

The company's shareholders are set to receive $2.50 in cash per share as part of the merger deal, representing a 72% premium over its share price when the merger agreement was announced. However, Apollo Technology Capital Corp., a shareholder in SPAR, has voiced concerns about Highwire's ability to secure financing and potential risks to SPAR if the deal falls through.

The merger is anticipated to enhance SPAR Group's business performance and client service offerings. Highwire Capital, known for integrating advanced technologies into traditional business models, aims to drive efficiency and growth in its acquisitions. These recent developments mark a significant turning point for SPAR Group as it navigates its future growth initiatives.

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