GAMMA Investing LLC Raises Position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

GAMMA Investing LLC grew its holdings in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 36.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,127 shares of the transportation company’s stock after purchasing an additional 302 shares during the quarter. GAMMA Investing LLC’s holdings in Knight-Swift Transportation were worth $61,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Rise Advisors LLC acquired a new position in shares of Knight-Swift Transportation in the 1st quarter valued at $25,000. Versant Capital Management Inc increased its position in shares of Knight-Swift Transportation by 3,461.9% in the 2nd quarter. Versant Capital Management Inc now owns 748 shares of the transportation company’s stock valued at $37,000 after acquiring an additional 727 shares during the period. Brown Brothers Harriman & Co. increased its position in shares of Knight-Swift Transportation by 28.6% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 900 shares of the transportation company’s stock valued at $45,000 after acquiring an additional 200 shares during the period. Blue Trust Inc. increased its position in shares of Knight-Swift Transportation by 168.3% in the 2nd quarter. Blue Trust Inc. now owns 923 shares of the transportation company’s stock valued at $51,000 after acquiring an additional 579 shares during the period. Finally, Massmutual Trust Co. FSB ADV increased its position in shares of Knight-Swift Transportation by 50.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,020 shares of the transportation company’s stock valued at $51,000 after acquiring an additional 343 shares during the period. Hedge funds and other institutional investors own 88.77% of the company’s stock.

Insiders Place Their Bets

In other Knight-Swift Transportation news, EVP Michael K. Liu sold 5,696 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $53.49, for a total value of $304,679.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Knight-Swift Transportation news, EVP Michael K. Liu sold 5,696 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $53.49, for a total value of $304,679.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert E. Synowicki, Jr. sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $53.32, for a total transaction of $133,300.00. Following the sale, the director now owns 21,833 shares of the company’s stock, valued at $1,164,135.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 85,196 shares of company stock valued at $4,367,869 in the last ninety days. 3.00% of the stock is currently owned by corporate insiders.

Knight-Swift Transportation Trading Up 3.7 %

Shares of Knight-Swift Transportation stock opened at $53.41 on Thursday. The firm has a market capitalization of $8.63 billion, a PE ratio of 79.72, a P/E/G ratio of 1.41 and a beta of 0.92. Knight-Swift Transportation Holdings Inc. has a twelve month low of $45.55 and a twelve month high of $60.99. The firm’s 50-day moving average price is $52.21 and its 200 day moving average price is $50.42. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.24.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings results on Wednesday, July 24th. The transportation company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). The company had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Knight-Swift Transportation had a net margin of 0.88% and a return on equity of 1.98%. The company’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.49 earnings per share. On average, sell-side analysts predict that Knight-Swift Transportation Holdings Inc. will post 1.08 EPS for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, September 6th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend was Friday, September 6th. Knight-Swift Transportation’s dividend payout ratio is presently 95.52%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on KNX. StockNews.com raised Knight-Swift Transportation to a “sell” rating in a research report on Thursday, July 25th. Wolfe Research downgraded Knight-Swift Transportation from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 11th. Susquehanna increased their price target on Knight-Swift Transportation from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. TD Cowen increased their price target on Knight-Swift Transportation from $47.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Citigroup started coverage on Knight-Swift Transportation in a research report on Wednesday, October 9th. They set a “neutral” rating and a $55.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $55.88.

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.