BlackRock Inc. Invests $104.52 Million in Heartland Express, Inc. $HTLD

Key Points

• BlackRock acquired 6.87 million Heartland Express shares worth approximately $104.5 million, giving it an 8.86% stake. Institutional investors collectively own 53.45% of the company.
• Heartland Express reported quarterly EPS of $0.14, but revenue of $152.38 million fell short of the $185.08 million analyst estimate and declined 12.5% year over year. The company posted a negative net margin of 2.98%.
• Analyst sentiment remains mixed, with an overall “Hold” rating and an average price target of $13.00; shares opened at $12.18, while recent insider activity included a director selling $492,069 worth of stock.

BlackRock Inc. acquired a new stake in Heartland Express, Inc. (NASDAQ:HTLD - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 6,867,465 shares of the transportation company's stock, valued at approximately $104,523,000. BlackRock Inc. owned approximately 8.86% of Heartland Express at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Jump Financial LLC boosted its position in Heartland Express by 7.6% during the fourth quarter. Jump Financial LLC now owns 12,252 shares of the transportation company's stock valued at $111,000 after purchasing an additional 870 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Heartland Express by 18.1% during the 2nd quarter. GAMMA Investing LLC now owns 6,525 shares of the transportation company's stock worth $99,000 after purchasing an additional 999 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of 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 purchasing an additional 1,170 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Heartland Express by 76.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,905 shares of the transportation company's stock worth $26,000 after purchasing an additional 1,261 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Heartland Express by 1.0% in the 2nd quarter. Legal & General Group Plc now owns 126,736 shares of the transportation company's stock valued at $1,095,000 after buying an additional 1,262 shares during the last quarter. Institutional investors and hedge funds own 53.45% of the company's stock.

Heartland Express Trading Down 1.4%

Shares of NASDAQ:HTLD opened at $12.18 on Friday. Heartland Express, Inc. has a 12-month low of $6.99 and a 12-month high of $16.64. The stock has a market cap of $941.88 million, a PE ratio of -43.50 and a beta of 1.33. The business has a 50 day moving average of $13.77 and a 200-day moving average of $12.79. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.18.

Heartland Express (NASDAQ:HTLD - Get Free Report) last announced its earnings results on Wednesday, August 5th. The transportation company reported $0.14 earnings per share for the quarter. Heartland Express had a negative return on equity of 0.92% and a negative net margin of 2.98%.The company had revenue of $152.38 million for the quarter, compared to analyst estimates of $185.08 million. During the same quarter last year, the company earned ($0.14) earnings per share. The firm's quarterly revenue was down 12.5% compared to the same quarter last year. As a group, equities research analysts forecast that Heartland Express, Inc. will post 0.19 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Morgan Stanley boosted their target price on shares of Heartland Express from $12.00 to $13.00 and gave the stock an "equal weight" rating in a report on Monday, July 6th. Zacks Research raised shares of Heartland Express from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 13th. Barclays lowered their price objective on shares of Heartland Express from $14.00 to $12.00 and set an "underweight" rating on the stock in a research note on Thursday, August 13th. UBS Group raised their target price on shares of Heartland Express from $12.00 to $13.00 and gave the company a "neutral" rating in a research note on Thursday, August 6th. Finally, JPMorgan Chase & Co. lifted their price target on Heartland Express from $11.00 to $12.00 and gave the stock an "underweight" rating in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $13.00.

Insider Transactions at Heartland Express

In other Heartland Express news, Director David Paul Millis sold 31,402 shares of the business's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $15.67, for a total value of $492,069.34. Following the completion of the sale, the director owned 28,387 shares of the company's stock, valued at $444,824.29. The trade was a 52.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 41.60% of the stock is owned by corporate insiders.

Heartland Express 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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