Schonfeld Strategic Advisors LLC Purchases 133,497 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Schonfeld Strategic Advisors LLC grew its position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 65.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 337,598 shares of the transportation company’s stock after acquiring an additional 133,497 shares during the quarter. Schonfeld Strategic Advisors LLC’s holdings in Knight-Swift Transportation were worth $17,906,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Franklin Resources Inc. purchased a new stake in Knight-Swift Transportation during the third quarter valued at $70,185,000. American Trust bought a new position in shares of Knight-Swift Transportation in the 3rd quarter valued at about $204,000. Principal Financial Group Inc. grew its position in Knight-Swift Transportation by 21.5% in the third quarter. Principal Financial Group Inc. now owns 653,238 shares of the transportation company’s stock worth $35,242,000 after acquiring an additional 115,447 shares in the last quarter. GAMMA Investing LLC increased its stake in Knight-Swift Transportation by 18.5% during the fourth quarter. GAMMA Investing LLC now owns 1,335 shares of the transportation company’s stock worth $71,000 after acquiring an additional 208 shares during the last quarter. Finally, Everence Capital Management Inc. purchased a new stake in Knight-Swift Transportation during the fourth quarter valued at approximately $221,000. 88.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KNX has been the subject of a number of recent research reports. Bank of America cut Knight-Swift Transportation from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $66.00 to $46.00 in a report on Tuesday, April 1st. Wells Fargo & Company cut their price objective on shares of Knight-Swift Transportation from $55.00 to $46.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. Citigroup upgraded shares of Knight-Swift Transportation from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $53.00 to $48.00 in a report on Tuesday, April 8th. Evercore ISI decreased their price objective on shares of Knight-Swift Transportation from $49.00 to $44.00 and set an “in-line” rating for the company in a research note on Thursday, April 24th. Finally, Raymond James cut their target price on Knight-Swift Transportation from $66.00 to $55.00 and set a “strong-buy” rating on the stock in a research note on Friday, April 11th. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $50.60.

Insider Buying and Selling at Knight-Swift Transportation

In related news, Director Douglas L. Col acquired 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average price of $45.37 per share, with a total value of $226,850.00. Following the completion of the transaction, the director now directly owns 5,000 shares in the company, valued at $226,850. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.00% of the company’s stock.

Knight-Swift Transportation Stock Performance

Shares of Knight-Swift Transportation stock opened at $39.25 on Wednesday. Knight-Swift Transportation Holdings Inc. has a 12 month low of $36.69 and a 12 month high of $61.51. The stock’s fifty day moving average price is $43.84 and its 200-day moving average price is $51.15. The firm has a market cap of $6.36 billion, a P/E ratio of 53.77 and a beta of 1.16. The company has a current ratio of 0.85, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.25 by $0.03. Knight-Swift Transportation had a net margin of 1.59% and a return on equity of 2.43%. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the previous year, the business posted $0.12 EPS. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, equities research analysts expect that Knight-Swift Transportation Holdings Inc. will post 2.13 earnings per share for the current fiscal year.

Knight-Swift Transportation Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.72 dividend on an annualized basis and a yield of 1.83%. This is a positive change from Knight-Swift Transportation’s previous quarterly dividend of $0.16. Knight-Swift Transportation’s dividend payout ratio is currently 76.60%.

Knight-Swift Transportation Company Profile

Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides freight transportation services in the United States and Mexico. The company operates through four segments: Truckload, Less-than-truckload (LTL), Logistics, and Intermodal. The Truckload segment provides transportation services, which include irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.