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No insider purchase over the last 90 days. The latest, by Hennen Steven Michael, was filed 30 Dec 2025.
SPAR Group, Inc.: what insiders have been doing
SPAR Group, Inc. belongs to the Industry sector. Filings by its managers are published through SEC (Form 4). In the past year (20 October 2025 to 20 October 2026), 13 filings came from 7 insiders.
Purchases and sales both appear in the filings: 2 purchases (2 insiders, €187k) and 2 sales (2 insiders, €7,343). The amount is not disclosed for 1 filing. Unlike grants, an open-market purchase is paid for by the insider, at the market price. Those buying include 1 finance chief and 1 chief executive. Linnane William filed the largest purchase, €150k, on 4 November 2025.
The most recent open-market purchase was published on 30 December 2025, 295 days ago. Between a trade and the moment it shows up on SEC (Form 4), the median delay is 3 days. US insiders must file a Form 4 within two business days of a trade.
With 13 filings in twelve months, the company is quieter than the median of 22 filings across the 5,455 companies we follow on the same exchange. The full history, which starts in 2016, counts 5 purchases against 54 sales. For the fiscal year to 31 December 2025, the annual 10-K puts revenue at 136.1 m USD and net income at -24.6 m USD.
Elsewhere in the same sector, our signals recently picked up insider purchases at Tennant Co and Butler National Corp. These figures are compiled from regulatory filings published by SEC (Form 4). They describe what insiders did and are not a recommendation.
Insider Decl.
106
Thresholds
n/a
Buy Volume
€192,901
5 ops. · all time
Sell Volume
€3M
54 ops. · all time
Who traded when
BuySaleRobert G/ Brown2 buys6 sales
SPAR Business Services Inc4 sales
Steven Michael Hennen1 buy
William H. Bartels1 sale
William Linnane1 buy
Since the insiders bought
- -17.7%Entry US$0.79 · Close 16 Oct 2026 US$0.65
- -26.6%Entry US$1.09 · Close at T+90 US$0.80
- -48.2%Entry US$1.14 · Close at T+365 US$0.59
Entry is the close on the day after publication, the first price a reader could act on. Prices in the listing currency. Past moves are not a forecast.
This score ranks the purchase within its own market. A position size is suggested only on the venues of the backtested strategy universe; elsewhere, signals stay on watch. Not investment advice.
Fundamental score
Ranked 26,124 of 26,283 companies
5.8
score / 100
Value1
Quality11
FCF yld-116%
Earn yld-133%
EV/EBITDA·
ROE-179%
Gross mgn16%
Net mgn-18%
Debt/EBITDA·
Pillars2/3
Transparent value + quality ranking, distinct from the insider signal.
Financial data
as of FY 2025FY ended December 2025 · cache
US$0.65
Analyst consensus
Income statement
RevenueUS$136.1M
Gross profitUS$21.7M16% margin
EBITDA-US$16M-12% margin
Net income-US$24.6M-19.3% margin
Valuation
P/Book5.6x
Beta0.19
Balance sheet & cash
Market capUS$18.5M
Total debtUS$27.3M
Free Cash Flow-US$21.4M
Debt / Equity1090%
Profitability & ownership
ROE-179.4%
ROA-10.4%
% insiders53.7%
% institutions5.8%
Last declaration on 1 October 2026
Declarations106 total
110,000 sharesCommon StockSEC:0001437749-26-031785:0
110,000 sharesCommon StockSEC:0001437749-26-031787:0
110,000 sharesCommon StockSEC:0001437749-26-031786:0
200,000 sharesCommon StockSEC:0001437749-26-030969:0
135,000 sharesCommon Stock, $.01 par valueSEC:0001090394-26-000005:0
4,709,837 sharesCommon StockSEC:0001090391-26-000004:0
4,000 sharesCommon Stock, $.01 par valueSEC:0001090394-26-000004:0
10,000 shares@ US$0.851.0% of flowCommon Stock, $.01 par valueSEC:0001090394-26-000003:0
100 sharesCommon Stock, $.01 par valueSEC:0001090394-26-000002:0
100 sharesCommon Stock, $.01 par valueSEC:0001090394-26-000001:0
55,000 shares@ US$0.78100.0% of flowCommon Stock, $.01 par valueSEC:0001437749-25-038978:0
Canonical exit: 19 Mar 2026 (T+90)
8,973 shares@ US$1.156.3% of flowCommon Stock, $.01 par valueSEC:0001437749-25-032994:0
173,000 shares@ US$1.02100.0% of flowCommon Stock, $.01 par valueSEC:0001437749-25-032997:0
Canonical exit: 1 Jan 2026 (T+90)
454,355 sharesCommon Stock, $.01 par valueSEC:0001090394-25-000010:0
96,154 shares0Common Stock, $.01 par valueSEC:0001437749-25-028638:0
600,000 shares0Common Stock, $.01 par valueSEC:0001437749-25-021259:0
40,051 shares0Common Stock, $.01 par valueSEC:0001437749-25-017397:0
6,000 shares@ US$1.051.1% of flowCommon Stock, $.01 par valueSEC:0001090394-25-000007:0
1,000 shares@ US$1.090.2% of flowCommon Stock, $.01 par valueSEC:0001090394-25-000006:0
Canonical exit: 20 Jul 2025 (T+90)
5,000 shares@ US$1.100.9% of flowCommon Stock, $.01 par valueSEC:0001090394-25-000005:0
Canonical exit: 14 Jul 2025 (T+90)
1,000 shares@ US$1.971.2% of flowCommon Stock, $.01 par valueSEC:0001944320-25-000004:0
5,997 shares@ US$1.982.2% of flowCommon Stock, $.01 par valueSEC:0001090394-25-000004:0
2,141 shares@ US$1.980.8% of flowCommon Stock, $.01 par valueSEC:0001090394-25-000003:0
244 shares@ US$1.980.1% of flowCommon Stock, $.01 par valueSEC:0001090394-25-000002:0
1,901 shares@ US$1.862.1% of flowCommon Stock, $.01 par valueSEC:0001944320-25-000003:0
25 of 106 declarations
About SPAR Group, Inc.
SPAR Group, Inc. (ticker SGRP) is a U.S.-listed company trading on the NASDAQ market in the United States (United States). It operates as a specialized field-services provider focused on merchandising, marketing, and distribution solutions for retailers, consumer packaged goods brands, and distributors. In practical terms, SPAR is not a traditional retailer or wholesaler; it is a B2B execution platform that helps clients improve shelf availability, in-store presentation, promotional compliance, remodel execution, and selected distribution-related workflows. For investors, the company’s economics depend heavily on service mix, labor execution, client relationships, and the ability to scale recurring work profitably.
The company traces its origins to 1967, when it was founded as a promotion analysis business serving major consumer brands. In 1987, SPAR expanded into in-store merchandising and marketing services, marking the start of its evolution into a full retail-solutions provider. That heritage still matters: SPAR combines long-standing retail know-how with an increasingly technology-enabled operating model. Over time, the company built a global footprint, but recent management strategy has been much more focused. In 2024 and 2025, SPAR exited a number of international and joint-venture arrangements and concentrated on the U.S. and Canada, simplifying the business and sharpening its strategic priorities. The corporate headquarters was relocated to Charlotte, North Carolina, in November 2025.
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From a competitive standpoint, SPAR operates in a fragmented and highly competitive services market alongside merchandising agencies, store-activation firms, field-execution specialists, and retail-tech-enabled service providers. Its differentiation lies in a mix of field coverage, operational discipline, client intimacy, and data-enabled execution. The company emphasizes recurring merchandising work, remodel and retail-transformation services, and distribution support, while increasingly positioning itself around higher-margin, tech-enabled offerings. Management has also highlighted partnerships and AI-enabled tools as part of its roadmap to improve productivity and operating leverage.
Recent developments have been material. In fiscal 2025, SPAR undertook a broad operational reset: it completed the exit from global joint ventures, implemented an enterprise-wide ERP system, reduced organizational layers, cut costs, and refreshed senior leadership. The company reported full-year 2025 sales of $136 million and then, in first-quarter 2026 results, said it had returned to positive EBITDA and improved gross margin versus the prior year. Management continues to frame the business around margin recovery, cost discipline, and growth in core merchandising services. For investors monitoring SEC Form 4 insider transactions, these corporate changes and leadership actions provide useful context for understanding insider behavior and capital-allocation signals.
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