SummerHaven Investment Management LLC Has $613,000 Stock Position in Heartland Express, Inc. (NASDAQ:HTLD)

SummerHaven Investment Management LLC boosted its position in shares of Heartland Express, Inc. (NASDAQ:HTLD) by 1.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 66,459 shares of the transportation company’s stock after purchasing an additional 1,257 shares during the period. SummerHaven Investment Management LLC’s holdings in Heartland Express were worth $613,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Empowered Funds LLC increased its holdings in shares of Heartland Express by 35.2% during the fourth quarter. Empowered Funds LLC now owns 346,271 shares of the transportation company’s stock worth $3,885,000 after buying an additional 90,100 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Heartland Express during the 4th quarter valued at $171,000. Principal Financial Group Inc. increased its holdings in Heartland Express by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 210,266 shares of the transportation company’s stock valued at $2,359,000 after purchasing an additional 5,946 shares in the last quarter. Ieq Capital LLC bought a new position in Heartland Express in the 4th quarter valued at $148,000. Finally, Y Intercept Hong Kong Ltd bought a new position in Heartland Express in the 4th quarter valued at $288,000. 53.45% of the stock is currently owned by institutional investors and hedge funds.

Heartland Express Stock Up 0.6%

Shares of HTLD opened at $8.86 on Friday. The business’s fifty day moving average price is $8.51 and its two-hundred day moving average price is $10.05. The firm has a market capitalization of $695.99 million, a price-to-earnings ratio of -23.95 and a beta of 1.07. Heartland Express, Inc. has a 52 week low of $7.11 and a 52 week high of $13.67. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.17 and a current ratio of 1.08.

Heartland Express (NASDAQ:HTLD) last posted its quarterly earnings results on Wednesday, April 30th. The transportation company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.05). The firm had revenue of $219.42 million during the quarter, compared to the consensus estimate of $241.37 million. Heartland Express had a negative net margin of 2.84% and a negative return on equity of 3.57%. Heartland Express’s revenue was down 18.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.19) EPS. On average, analysts predict that Heartland Express, Inc. will post 0.17 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Wall Street Zen cut Heartland Express from a “hold” rating to a “sell” rating in a report on Monday, May 5th. JPMorgan Chase & Co. decreased their price objective on shares of Heartland Express from $10.00 to $9.00 and set an “underweight” rating on the stock in a report on Thursday, May 1st. Finally, Barclays dropped their target price on shares of Heartland Express from $11.00 to $9.00 and set an “underweight” rating for the company in a research note on Wednesday, April 2nd.

Insider Activity

In related news, major shareholder Ann S. Gerdin Revocable Trust purchased 148,272 shares of the business’s stock in a transaction dated Wednesday, May 7th. The shares were bought at an average price of $7.70 per share, with a total value of $1,141,694.40. Following the purchase, the insider now directly owns 1,046,856 shares in the company, valued at $8,060,791.20. This trade represents a 16.50% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director James G. Pratt purchased 6,571 shares of Heartland Express stock in a transaction dated Wednesday, May 14th. The stock was bought at an average price of $8.96 per share, for a total transaction of $58,876.16. Following the completion of the transaction, the director now directly owns 30,000 shares in the company, valued at $268,800. The trade was a 28.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 619,031 shares of company stock valued at $5,125,232. 40.70% of the stock is currently owned by insiders.

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.