Sparta Commercial Services, Inc. (SRCO) Soars After Strong Earnings

One of the biggest winners this week was Sparta Commercial Services, a technology company focused on providing consumer and municipal financing to the powersports, recreation, and automobile industries. Shares of Sparta Commercial Services climbed more than 21% during the week after investors had a chance to digest the impressive earnings filed on December 23rd.

The report was bolstered by several positive news announcements during the past few months which have given investors increasing confidence that the company is moving in the right direction. In August, Sparta Commercial Services announced the launch of Truckchex, an online source for history reports on commercial and heavy duty trucks. This launch is the third of its kind and follows the launch of both Cyclechex and RVChecks. Purchasers of these history reports will get a full breakdown of a vehicle’s title history, reported damage, odometer readings, and more. These launches will make purchasing vehicles easier and safer.

Specialty Reports, a subsidiary of Sparta Commercial Services, is inspiring customers through a strategic partnership with More Than Rewards, LLC. SRI’s Specialty Mobile Apps division will offer its dealer’s customers access to the More Than Rewards loyalty program technology via their smart phones. Consumers will have instant access for viewing rewards accounts. This will allow consumers to receive rewards for products they are interested in purchasing.

These announcements are proving beneficial as Sparta Commercial Services aims to increase its already strong customer base in its municipal lease program. Three municipalities have recently joined the program, which include the cities of Raleigh, Clayton, and Westfield. As the municipal lease program continues to attract new business, investors should begin to see the growth in the company’s bottomline.

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