Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Stake Increased by Crestline Management LP

Crestline Management LP lifted its stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 176.5% during the fourth quarter, Holdings Channel reports. The firm owned 181,564 shares of the transportation company’s stock after buying an additional 115,907 shares during the period. Crestline Management LP’s holdings in Knight-Swift Transportation were worth $9,630,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of KNX. Cetera Investment Advisers raised its holdings in shares of Knight-Swift Transportation by 3.4% during the fourth quarter. Cetera Investment Advisers now owns 13,921 shares of the transportation company’s stock valued at $738,000 after buying an additional 460 shares during the last quarter. Bridgefront Capital LLC bought a new stake in shares of Knight-Swift Transportation during the 4th quarter worth about $229,000. Capstone Investment Advisors LLC bought a new stake in Knight-Swift Transportation during the fourth quarter worth approximately $10,384,000. Baird Financial Group Inc. increased its position in shares of Knight-Swift Transportation by 5.8% during the 4th quarter. Baird Financial Group Inc. now owns 102,985 shares of the transportation company’s stock valued at $5,462,000 after purchasing an additional 5,628 shares during the period. Finally, Bayesian Capital Management LP raised its position in Knight-Swift Transportation by 133.2% during the fourth quarter. Bayesian Capital Management LP now owns 19,431 shares of the transportation company’s stock valued at $1,031,000 after buying an additional 11,100 shares during the period. Institutional investors and hedge funds own 88.77% of the company’s stock.

Knight-Swift Transportation Price Performance

KNX opened at $41.24 on Tuesday. The company has a fifty day moving average price of $43.00 and a two-hundred day moving average price of $50.82. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 0.85. The firm has a market capitalization of $6.68 billion, a PE ratio of 56.49 and a beta of 1.18. Knight-Swift Transportation Holdings Inc. has a 52 week low of $36.69 and a 52 week high of $61.51.

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

Knight-Swift Transportation Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Monday, June 9th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date is Monday, June 9th. Knight-Swift Transportation’s dividend payout ratio (DPR) is presently 76.60%.

Analyst Ratings Changes

A number of analysts have recently issued reports on KNX shares. The Goldman Sachs Group reduced their price target on shares of Knight-Swift Transportation from $55.00 to $45.00 and set a “neutral” rating for the company in a research report on Thursday, April 10th. Bank of America lowered Knight-Swift Transportation from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $66.00 to $46.00 in a report on Tuesday, April 1st. Barclays reduced their target price on Knight-Swift Transportation from $62.00 to $58.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. Susquehanna lowered their target price on shares of Knight-Swift Transportation from $54.00 to $45.00 and set a “positive” rating on the stock in a research note on Thursday, April 24th. Finally, TD Cowen cut their price objective on Knight-Swift Transportation from $55.00 to $49.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Knight-Swift Transportation has a consensus rating of “Moderate Buy” and a consensus target price of $50.60.

Insider Buying and Selling

In related news, Director Douglas L. Col acquired 5,000 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was bought at an average price of $45.37 per share, with a total value of $226,850.00. Following the acquisition, the director now owns 5,000 shares in the company, valued at $226,850. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.00% of the stock is owned by corporate insiders.

About Knight-Swift Transportation

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.