WEST PALM BEACH, Fla.—SPAR Business Services Inc., affiliated with Robert G. Brown, has reported the sale of 28 shares of SPAR Group, Inc. (NASDAQ:SGRP) common stock. The transaction, which took place on January 6, 2025, was executed at a price of $1.95 per share, amounting to a total of $54. SPAR Group, with a market capitalization of $42 million, has demonstrated strong performance with a nearly 98% return over the past year. According to InvestingPro analysis, the company trades at an attractive P/E ratio of 3.6x.
Following this transaction, SPAR Business Services retains ownership of 1,035,510 shares of SPAR Group. The filing indicates that the shares are directly owned by the reporting entity. This move is part of regular activities reported by the company, which is affiliated with Robert G. Brown, though he is not listed as a director or officer of the company. InvestingPro analysis suggests the stock is currently undervalued, with additional insights available in the comprehensive Pro Research Report, one of 1,400+ detailed company analyses available to subscribers.
In other recent news, SPAR Group, a global merchandising and marketing services provider, has confirmed its merger with Highwire Capital, following stockholder approval. The all-cash acquisition, unanimously approved by SPAR Group's Board of Directors, promises to enhance the company's business performance and client service offerings. However, Apollo Technology Capital Corp., a shareholder in SPAR, expressed concerns about Highwire's ability to secure financing and potential risks to SPAR if the deal falls through.
Highwire Capital, known for integrating advanced technologies into traditional business models, is committed to completing the transaction. The firm has extended its commitment letter with lenders until January 15, 2025, to meet remaining lender requirements. The merger is part of SPAR Group's strategic initiatives to expand its reach and capabilities in providing comprehensive merchandising, marketing, and distribution solutions.
In response to Apollo Capital's concerns, SPAR Group is urged to provide complete and fair disclosure about Highwire's proposed financing and SPAR's closing balance sheet cash expectations. These recent developments mark a significant turning point for SPAR Group as it navigates its future growth initiatives.
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