Synovus Financial Corp Takes $368,000 Position in Hub Group Inc (NASDAQ:HUBG)

Synovus Financial Corp purchased a new stake in shares of Hub Group Inc (NASDAQ:HUBG) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,766 shares of the transportation company’s stock, valued at approximately $368,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in HUBG. Nuveen Asset Management LLC bought a new stake in shares of Hub Group during the second quarter valued at about $25,715,000. Dalton Greiner Hartman Maher & Co. bought a new stake in shares of Hub Group during the second quarter valued at about $12,506,000. Prudential Financial Inc. raised its stake in shares of Hub Group by 58.1% during the second quarter. Prudential Financial Inc. now owns 716,104 shares of the transportation company’s stock valued at $30,062,000 after purchasing an additional 263,223 shares in the last quarter. BlackRock Inc. raised its stake in shares of Hub Group by 3.8% during the second quarter. BlackRock Inc. now owns 5,302,785 shares of the transportation company’s stock valued at $222,610,000 after purchasing an additional 195,468 shares in the last quarter. Finally, Morgan Stanley raised its position in Hub Group by 91.7% in the second quarter. Morgan Stanley now owns 386,609 shares of the transportation company’s stock worth $16,228,000 after acquiring an additional 184,897 shares in the last quarter. 91.30% of the stock is owned by institutional investors.

In other Hub Group news, Director Charles R. Reaves sold 5,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $42.21, for a total value of $211,050.00. Following the sale, the director now directly owns 67,127 shares in the company, valued at $2,833,430.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.94% of the company’s stock.

Several equities research analysts have commented on the stock. BidaskClub cut shares of Hub Group from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. UBS Group set a $46.00 price objective on Hub Group and gave the stock a “hold” rating in a report on Wednesday, July 31st. Cowen cut their price objective on Hub Group from $55.00 to $53.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. ValuEngine upgraded Hub Group from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Stephens set a $53.00 price objective on Hub Group and gave the stock a “buy” rating in a report on Friday, September 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $50.38.

NASDAQ HUBG traded up $0.01 on Friday, hitting $49.50. 103,600 shares of the company were exchanged, compared to its average volume of 255,228. Hub Group Inc has a twelve month low of $34.02 and a twelve month high of $50.49. The firm has a market capitalization of $1.70 billion, a P/E ratio of 18.97 and a beta of 1.62. The company’s 50 day moving average price is $47.56 and its 200-day moving average price is $43.24. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.26 and a quick ratio of 1.23.

Hub Group (NASDAQ:HUBG) last issued its earnings results on Wednesday, October 30th. The transportation company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.17. The business had revenue of $913.28 million during the quarter, compared to analyst estimates of $956.99 million. Hub Group had a return on equity of 11.11% and a net margin of 3.38%. Hub Group’s revenue was down 2.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.77 earnings per share. As a group, equities analysts expect that Hub Group Inc will post 3.39 EPS for the current year.

About Hub Group

Hub Group, Inc, an asset-light freight transportation management company, provides intermodal, trucking, truck brokerage, and other logistics services in North America. Its intermodal services include arranging for the movement of its customers' freight in containers and trailers over long distances.

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Institutional Ownership by Quarter for Hub Group (NASDAQ:HUBG)

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