RiverPark Advisors LLC Takes $162,000 Position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

RiverPark Advisors LLC acquired a new stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,010 shares of the transportation company’s stock, valued at approximately $162,000.

Other hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc lifted its position in shares of Knight-Swift Transportation by 3,461.9% in the second quarter. Versant Capital Management Inc now owns 748 shares of the transportation company’s stock valued at $37,000 after buying an additional 727 shares during the last quarter. Deseret Mutual Benefit Administrators lifted its holdings in Knight-Swift Transportation by 87.2% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 747 shares of the transportation company’s stock worth $40,000 after purchasing an additional 348 shares during the last quarter. Brown Brothers Harriman & Co. lifted its holdings in Knight-Swift Transportation by 28.6% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 900 shares of the transportation company’s stock worth $45,000 after purchasing an additional 200 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in Knight-Swift Transportation by 50.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,020 shares of the transportation company’s stock worth $51,000 after purchasing an additional 343 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in Knight-Swift Transportation by 168.3% during the 2nd quarter. Blue Trust Inc. now owns 923 shares of the transportation company’s stock worth $51,000 after purchasing an additional 579 shares during the last quarter. 88.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. TD Cowen lifted their price target on Knight-Swift Transportation from $55.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Barclays lifted their price target on Knight-Swift Transportation from $62.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday. Susquehanna lifted their price target on Knight-Swift Transportation from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. The Goldman Sachs Group dropped their price target on Knight-Swift Transportation from $48.00 to $44.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Finally, Bank of America lifted their price target on Knight-Swift Transportation from $57.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $56.38.

Insider Activity

In other Knight-Swift Transportation news, Director Ploeg David Vander sold 500 shares of Knight-Swift Transportation stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $57.10, for a total transaction of $28,550.00. Following the transaction, the director now directly owns 30,729 shares of the company’s stock, valued at approximately $1,754,625.90. The trade was a 1.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Kevin P. Knight sold 29,779 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $57.19, for a total value of $1,703,061.01. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company’s stock.

Knight-Swift Transportation Trading Down 0.5 %

Shares of KNX opened at $55.63 on Friday. Knight-Swift Transportation Holdings Inc. has a 52-week low of $45.55 and a 52-week high of $60.99. The business’s fifty day moving average is $53.08 and its 200-day moving average is $51.03. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $9.01 billion, a price-to-earnings ratio of 241.88, a PEG ratio of 1.90 and a beta of 0.93.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.02. Knight-Swift Transportation had a return on equity of 1.81% and a net margin of 0.50%. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter last year, the company posted $0.41 EPS. The company’s revenue for the quarter was down 7.1% compared to the same quarter last year. Equities analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 1.05 EPS for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Friday, December 6th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.64 annualized dividend and a dividend yield of 1.15%. Knight-Swift Transportation’s payout ratio is 278.27%.

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.