Adage Capital Partners GP L.L.C. Raises Holdings in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Adage Capital Partners GP L.L.C. lifted its position in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 111.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 143,496 shares of the transportation company's stock after buying an additional 75,741 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.09% of Knight-Swift Transportation worth $7,611,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Franklin Resources Inc. purchased a new stake in shares of Knight-Swift Transportation during the third quarter worth about $70,185,000. Norges Bank purchased a new stake in Knight-Swift Transportation during the 4th quarter valued at approximately $65,839,000. Ceredex Value Advisors LLC raised its position in shares of Knight-Swift Transportation by 59.5% during the fourth quarter. Ceredex Value Advisors LLC now owns 1,435,562 shares of the transportation company's stock valued at $76,142,000 after buying an additional 535,518 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Knight-Swift Transportation by 6.8% in the fourth quarter. Victory Capital Management Inc. now owns 7,980,109 shares of the transportation company's stock worth $423,265,000 after buying an additional 506,491 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Knight-Swift Transportation by 7.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,991,354 shares of the transportation company's stock worth $370,819,000 after acquiring an additional 505,543 shares during the last quarter. Institutional investors own 88.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Barclays dropped their price objective on shares of Knight-Swift Transportation from $62.00 to $58.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. The Goldman Sachs Group cut their price target on Knight-Swift Transportation from $55.00 to $45.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Susquehanna reduced their price objective on Knight-Swift Transportation from $54.00 to $45.00 and set a "positive" rating on the stock in a research note on Thursday, April 24th. Citigroup upgraded Knight-Swift Transportation from a "neutral" rating to a "buy" rating and lowered their target price for the company from $53.00 to $48.00 in a research report on Tuesday, April 8th. Finally, StockNews.com upgraded shares of Knight-Swift Transportation from a "sell" rating to a "hold" rating in a research report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $50.60.

Knight-Swift Transportation Trading Up 6.3 %

Shares of KNX stock traded up $2.47 during trading hours on Friday, reaching $41.45. 3,852,556 shares of the stock were exchanged, compared to its average volume of 2,294,178. The company has a current ratio of 0.85, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30. Knight-Swift Transportation Holdings Inc. has a 12-month low of $36.69 and a 12-month high of $61.51. The firm has a market capitalization of $6.71 billion, a price-to-earnings ratio of 56.78 and a beta of 1.16. The company's 50-day moving average price is $43.17 and its 200-day moving average price is $50.90.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last released its earnings results on Wednesday, April 23rd. The transportation company reported $0.28 EPS for the quarter, beating analysts' consensus estimates of $0.25 by $0.03. Knight-Swift Transportation had a return on equity of 2.43% and a net margin of 1.59%. The firm had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $1.83 billion. During the same quarter in the prior year, the firm posted $0.12 earnings per share. The company's quarterly revenue was up 1.3% on a year-over-year basis. As a group, equities analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 2.13 earnings per share for the current year.

Knight-Swift Transportation Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Monday, June 9th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend is Monday, June 9th. Knight-Swift Transportation's payout ratio is presently 76.60%.

Insider Buying and Selling

In other news, Director Douglas L. Col acquired 5,000 shares of Knight-Swift Transportation stock in a transaction on Thursday, March 13th. The shares were bought at an average cost of $45.37 per share, for a total transaction of $226,850.00. Following the acquisition, the director now directly owns 5,000 shares of the company's stock, valued at $226,850. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.00% of the stock is currently owned by insiders.

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.