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Robert G. Brown, a significant shareholder of SPAR Group , Inc. (NASDAQ:SGRP), recently sold 6,000 shares of the company’s common stock. The transaction, completed on May 12, 2025, was executed at a price of $1.05 per share, totaling $6,300. Following this sale, Brown holds 2,447,134 shares directly. The sale comes as SGRP trades near its 52-week low, with shares down about 57% over the past six months. According to InvestingPro analysis, the stock appears undervalued at current levels.
In addition to his direct holdings, Brown indirectly owns shares through other entities. He holds 3,000,000 shares via Innovative Global Technologies LLC, where he serves as a manager, and 992,549 shares through SPAR Business Services, Inc., where he is the controlling officer and a significant stockholder.
These transactions and holdings highlight Brown’s continued involvement and significant stake in SPAR Group, Inc., even after the recent sale.
In other recent news, SPAR Group, Inc. has announced a delay in filing its Annual Report on Form 10-K for the fiscal year ending December 31, 2024. The delay is attributed to the ongoing audit process and the company’s transition to a new Enterprise Resource Planning system, as well as its merger with Highwire Capital. SPAR Group has received a notification from Nasdaq regarding its non-compliance due to the delayed filing, and the company must submit a compliance plan within 60 days to address this issue. Highwire Capital has reaffirmed its commitment to acquiring SPAR Group in an all-cash transaction, which was approved by SPAR Group’s stockholders. The merger agreement, initially dated August 30, 2024, has seen a third extension for merger financing, moving the Commitment Termination Date to March 17, 2025. Highwire Capital plans to enhance its portfolio by leveraging SPAR Group’s services. The acquisition process continues to progress, with both parties working to meet customary closing conditions. Investors are advised to consider the risks and uncertainties associated with these developments.
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