State of Alaska Department of Revenue Lowers Stock Position in Heartland Express, Inc. (NASDAQ:HTLD)

State of Alaska Department of Revenue cut its holdings in shares of Heartland Express, Inc. (NASDAQ:HTLD) by 8.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,637 shares of the transportation company’s stock after selling 2,283 shares during the period. State of Alaska Department of Revenue’s holdings in Heartland Express were worth $302,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. First Eagle Investment Management LLC lifted its holdings in shares of Heartland Express by 14.6% during the first quarter. First Eagle Investment Management LLC now owns 666,675 shares of the transportation company’s stock worth $7,960,000 after purchasing an additional 84,739 shares during the period. Burgundy Asset Management Ltd. acquired a new position in shares of Heartland Express during the 2nd quarter worth $5,584,000. Millennium Management LLC raised its stake in shares of Heartland Express by 243.2% during the 2nd quarter. Millennium Management LLC now owns 241,755 shares of the transportation company’s stock worth $2,981,000 after buying an additional 171,319 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Heartland Express by 132.8% during the 1st quarter. Empowered Funds LLC now owns 225,713 shares of the transportation company’s stock worth $2,695,000 after buying an additional 128,758 shares during the last quarter. Finally, AQR Capital Management LLC acquired a new position in shares of Heartland Express during the 2nd quarter worth $2,702,000. 53.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Heartland Express

In other Heartland Express news, CEO Michael J. Gerdin bought 63,074 shares of the business’s stock in a transaction on Monday, November 4th. The shares were bought at an average cost of $10.95 per share, with a total value of $690,660.30. Following the transaction, the chief executive officer now directly owns 1,259,792 shares in the company, valued at approximately $13,794,722.40. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Heartland Express news, CEO Michael J. Gerdin bought 63,074 shares of the business’s stock in a transaction on Monday, November 4th. The shares were bought at an average cost of $10.95 per share, with a total value of $690,660.30. Following the transaction, the chief executive officer now directly owns 1,259,792 shares in the company, valued at approximately $13,794,722.40. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael J. Gerdin bought 5,210 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was acquired at an average cost of $11.49 per share, for a total transaction of $59,862.90. Following the completion of the transaction, the chief executive officer now owns 1,265,002 shares in the company, valued at $14,534,872.98. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 118,284 shares of company stock valued at $1,334,023 in the last three months. Corporate insiders own 39.60% of the company’s stock.

Heartland Express Stock Performance

Heartland Express stock opened at $11.99 on Friday. The stock’s 50 day moving average price is $11.73 and its 200 day moving average price is $11.80. The firm has a market capitalization of $941.22 million, a PE ratio of -41.34 and a beta of 0.71. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.23 and a current ratio of 1.17. Heartland Express, Inc. has a one year low of $9.63 and a one year high of $14.60.

Heartland Express (NASDAQ:HTLD) last announced its earnings results on Tuesday, October 29th. The transportation company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). Heartland Express had a negative net margin of 2.11% and a negative return on equity of 2.70%. The business had revenue of $259.86 million during the quarter, compared to analyst estimates of $268.35 million. During the same period in the previous year, the company earned ($0.14) earnings per share. The business’s revenue for the quarter was down 11.9% on a year-over-year basis. As a group, sell-side analysts expect that Heartland Express, Inc. will post -0.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Barclays dropped their price objective on Heartland Express from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. UBS Group reduced their price objective on Heartland Express from $13.00 to $12.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Finally, StockNews.com raised Heartland Express from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th. Two analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $11.50.

Heartland Express Company Profile

Heartland Express, Inc, together with its subsidiaries, operates as a short-to-medium, and long-haul truckload carrier in the United States and Canada. It primarily provides nationwide asset-based dry van truckload service for shippers; cross-border freight and other transportation services; and temperature-controlled truckload services.