Arrowstreet Capital Limited Partnership Has $6.12 Million Holdings in Heartland Express, Inc. $HTLD

Key Points

• Arrowstreet Capital increased its Heartland Express stake by 34.7% in the first quarter, owning 588,810 shares valued at approximately $6.12 million. Institutional investors collectively hold 53.45% of the company.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $13.20; targets range from $12 to $15.
• Heartland Express reported quarterly EPS of $0.14 on $184.13 million in revenue, while revenue declined 12.5% year over year. The company continues to pay a quarterly dividend of $0.02 per share, for an annualized yield of about 0.7%.

Arrowstreet Capital Limited Partnership lifted its stake in shares of Heartland Express, Inc. (NASDAQ:HTLD - Free Report) by 34.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 588,810 shares of the transportation company's stock after purchasing an additional 151,589 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.76% of Heartland Express worth $6,124,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Heartland Express by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,708 shares of the transportation company's stock worth $255,000 after buying an additional 1,170 shares in the last quarter. Caxton Associates LLP acquired a new position in shares of Heartland Express during the first quarter valued at $133,000. Jane Street Group LLC bought a new position in Heartland Express in the first quarter valued at about $907,000. Cetera Investment Advisers bought a new position in Heartland Express in the second quarter valued at about $462,000. Finally, Legal & General Group Plc boosted its holdings in Heartland Express by 1.0% in the second quarter. Legal & General Group Plc now owns 126,736 shares of the transportation company's stock valued at $1,095,000 after acquiring an additional 1,262 shares during the last quarter. 53.45% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on HTLD shares. Morgan Stanley boosted their price objective on Heartland Express from $12.00 to $13.00 and gave the stock an "equal weight" rating in a report on Monday, July 6th. Robert W. Baird raised their target price on shares of Heartland Express from $12.00 to $15.00 and gave the company an "outperform" rating in a research note on Friday, April 24th. JPMorgan Chase & Co. lifted their price target on shares of Heartland Express from $11.00 to $12.00 and gave the stock an "underweight" rating in a research report on Friday. UBS Group lifted their price target on shares of Heartland Express from $11.00 to $12.00 and gave the stock a "neutral" rating in a research report on Friday, April 24th. Finally, Wall Street Zen raised shares of Heartland Express from a "hold" rating to a "buy" rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $13.20.

Insiders Place Their Bets

In related news, Director David Paul Millis sold 31,402 shares of the business's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $15.67, for a total transaction of $492,069.34. Following the completion of the transaction, the director owned 28,387 shares in the company, valued at approximately $444,824.29. The trade was a 52.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 41.60% of the stock is owned by insiders.

Heartland Express Stock Performance

NASDAQ:HTLD opened at $12.23 on Monday. The company has a current ratio of 1.58, a quick ratio of 1.27 and a debt-to-equity ratio of 0.18. Heartland Express, Inc. has a 1-year low of $6.99 and a 1-year high of $16.64. The firm has a market capitalization of $947.70 million, a price-to-earnings ratio of -43.68 and a beta of 1.33. The business's 50-day moving average price is $14.92 and its two-hundred day moving average price is $12.55.

Heartland Express (NASDAQ:HTLD - Get Free Report) last posted its earnings results on Thursday, July 30th. The transportation company reported $0.14 earnings per share (EPS) for the quarter. The company had revenue of $184.13 million during the quarter, compared to analyst estimates of $185.08 million. Heartland Express had a negative return on equity of 0.92% and a negative net margin of 2.98%.The company's revenue for the quarter was down 12.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.14) EPS. On average, equities analysts expect that Heartland Express, Inc. will post 0.08 earnings per share for the current year.

Heartland Express Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Tuesday, June 23rd were paid a dividend of $0.02 per share. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $0.08 annualized dividend and a yield of 0.7%. Heartland Express's dividend payout ratio (DPR) is presently -28.57%.

Heartland Express Company Profile

Heartland Express, Inc NASDAQ: HTLD is a publicly traded truckload carrier headquartered in North Liberty, Iowa. The company specializes in full truckload transportation, offering dry-van services that connect shippers with customers across the continental United States. Its primary focus is on over-the-road freight movements, serving industries such as manufacturing, retail, and consumer goods.

Founded in 1978 as Heartland Motor Freight, the company has grown from a regional carrier into one of the larger U.S.

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