Empirical Finance LLC Makes New Investment in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Empirical Finance LLC purchased a new position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 19,532 shares of the transportation company’s stock, valued at approximately $888,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Eagle Bay Advisors LLC purchased a new stake in shares of Knight-Swift Transportation during the second quarter valued at $32,000. Sandy Spring Bank grew its holdings in shares of Knight-Swift Transportation by 40.0% during the second quarter. Sandy Spring Bank now owns 770 shares of the transportation company’s stock valued at $35,000 after buying an additional 220 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Knight-Swift Transportation by 144.4% during the second quarter. Quadrant Capital Group LLC now owns 1,046 shares of the transportation company’s stock valued at $48,000 after buying an additional 618 shares during the last quarter. Captrust Financial Advisors grew its holdings in shares of Knight-Swift Transportation by 377.1% during the first quarter. Captrust Financial Advisors now owns 1,169 shares of the transportation company’s stock valued at $56,000 after buying an additional 924 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in shares of Knight-Swift Transportation by 15.2% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,645 shares of the transportation company’s stock valued at $127,000 after buying an additional 349 shares during the last quarter. 87.32% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts recently issued reports on the stock. UBS Group boosted their target price on shares of Knight-Swift Transportation from $50.00 to $51.00 and gave the company a “neutral” rating in a research report on Thursday, July 22nd. Stifel Europe assumed coverage on shares of Knight-Swift Transportation in a research report on Monday, June 21st. They set a “buy” rating for the company. They noted that the move was a valuation call. KeyCorp boosted their target price on shares of Knight-Swift Transportation from $58.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, July 7th. Cowen upgraded shares of Knight-Swift Transportation from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $59.00 to $62.00 in a research report on Wednesday. Finally, Susquehanna decreased their target price on shares of Knight-Swift Transportation from $51.00 to $49.00 and set a “neutral” rating for the company in a research report on Thursday, July 22nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Knight-Swift Transportation presently has an average rating of “Buy” and an average target price of $55.39.

In other news, VP Michael K. Liu sold 2,225 shares of the stock in a transaction that occurred on Monday, August 23rd. The shares were sold at an average price of $51.04, for a total value of $113,564.00. Following the completion of the sale, the vice president now owns 1,663 shares of the company’s stock, valued at approximately $84,879.52. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Cary M. Flanagan sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 24th. The shares were sold at an average price of $50.48, for a total transaction of $100,960.00. Following the completion of the sale, the chief accounting officer now directly owns 2,215 shares of the company’s stock, valued at approximately $111,813.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 59,100 shares of company stock valued at $3,060,419. 3.10% of the stock is owned by corporate insiders.

KNX opened at $51.72 on Wednesday. Knight-Swift Transportation Holdings Inc. has a twelve month low of $37.07 and a twelve month high of $54.00. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.09. The company has a 50-day moving average price of $50.16 and a 200 day moving average price of $48.22. The company has a market cap of $8.58 billion, a PE ratio of 15.96, a price-to-earnings-growth ratio of 0.87 and a beta of 1.27.

Knight-Swift Transportation (NYSE:KNX) last released its quarterly earnings results on Tuesday, July 20th. The transportation company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.10. Knight-Swift Transportation had a net margin of 10.88% and a return on equity of 10.01%. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the prior year, the firm earned $0.57 EPS. The company’s revenue for the quarter was up 24.0% on a year-over-year basis. As a group, sell-side analysts expect that Knight-Swift Transportation Holdings Inc. will post 3.97 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 27th. Investors of record on Friday, September 3rd will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, September 2nd. This represents a $0.40 annualized dividend and a yield of 0.77%. Knight-Swift Transportation’s dividend payout ratio is presently 14.65%.

Knight-Swift Transportation Profile

Knight-Swift Transportation Holdings, Inc engages in the provision of multiple truckload transportation and logistics services. It operates through the following business segments: Trucking, Logistics, and Intermodal. The Trucking segment comprises irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.

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Institutional Ownership by Quarter for Knight-Swift Transportation (NYSE:KNX)

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