Hudson Bay Capital Management LP Makes New Investment in ArcBest Co. (NASDAQ:ARCB)

Hudson Bay Capital Management LP acquired a new position in ArcBest Co. (NASDAQ:ARCB - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 61,147 shares of the transportation company's stock, valued at approximately $5,706,000. Hudson Bay Capital Management LP owned 0.26% of ArcBest as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Barclays PLC grew its stake in shares of ArcBest by 342.5% in the 3rd quarter. Barclays PLC now owns 43,134 shares of the transportation company's stock valued at $4,678,000 after buying an additional 33,386 shares during the period. Crossmark Global Holdings Inc. purchased a new stake in shares of ArcBest in the 4th quarter valued at approximately $375,000. Lake Hills Wealth Management LLC purchased a new stake in shares of ArcBest in the 4th quarter valued at approximately $414,000. Fifth Third Bancorp grew its stake in shares of ArcBest by 23.1% in the 4th quarter. Fifth Third Bancorp now owns 2,570 shares of the transportation company's stock valued at $240,000 after buying an additional 483 shares during the period. Finally, Linden Thomas Advisory Services LLC grew its stake in shares of ArcBest by 4.9% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 18,247 shares of the transportation company's stock valued at $1,703,000 after buying an additional 849 shares during the period. Institutional investors and hedge funds own 99.27% of the company's stock.

Insider Buying and Selling

In related news, CFO John Matthew Beasley purchased 700 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average cost of $74.89 per share, for a total transaction of $52,423.00. Following the purchase, the chief financial officer now directly owns 8,142 shares of the company's stock, valued at $609,754.38. The trade was a 9.41% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.28% of the stock is owned by company insiders.

ArcBest Stock Down 1.3%

ARCB stock traded down $0.86 during midday trading on Friday, hitting $66.93. The company's stock had a trading volume of 315,581 shares, compared to its average volume of 306,782. The company has a quick ratio of 1.04, a current ratio of 1.01 and a debt-to-equity ratio of 0.10. ArcBest Co. has a 52-week low of $55.19 and a 52-week high of $129.83. The firm has a market capitalization of $1.53 billion, a P/E ratio of 9.13, a PEG ratio of 1.70 and a beta of 1.70. The firm has a 50-day simple moving average of $65.95 and a 200-day simple moving average of $87.57.

ArcBest (NASDAQ:ARCB - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The transportation company reported $0.51 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). ArcBest had a net margin of 4.16% and a return on equity of 11.79%. The firm had revenue of $967.08 million during the quarter, compared to analyst estimates of $990.03 million. During the same quarter in the previous year, the business posted $1.34 earnings per share. ArcBest's revenue for the quarter was down 6.7% compared to the same quarter last year. As a group, equities analysts forecast that ArcBest Co. will post 7 EPS for the current year.

ArcBest Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 9th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.72%. ArcBest's payout ratio is 6.35%.

Analyst Ratings Changes

ARCB has been the subject of several analyst reports. Morgan Stanley dropped their price target on shares of ArcBest from $160.00 to $145.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. UBS Group lowered their price objective on shares of ArcBest from $100.00 to $64.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. Truist Financial lowered their price objective on shares of ArcBest from $93.00 to $90.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Bank of America increased their price objective on shares of ArcBest from $58.00 to $67.00 and gave the stock an "underperform" rating in a research report on Friday. Finally, TD Cowen lowered their price objective on shares of ArcBest from $80.00 to $72.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $88.25.

ArcBest Company Profile

ArcBest Corporation, an integrated logistics company, engages in the provision of ground, air, and ocean transportation solutions. It operates through two segments: Asset-Based and Asset-Light. The Asset-Based segment provides less-than-truckload (LTL) services, that transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, non-bulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products.