Calamos Advisors LLC Makes New $2.18 Million Investment in Knight-Swift Transportation Holdings Inc. $KNX

Key Points

• Calamos Advisors LLC opened a new position in Knight-Swift Transportation during the first quarter, buying 37,841 shares valued at about $2.18 million.
• Institutional ownership remains high, with several other hedge funds also adjusting their KNX stakes and 88.77% of the stock now held by hedge funds and other institutions.
• Analysts are generally bullish on the stock: recent upgrades and higher price targets have produced a consensus Buy rating and an average target price of $80.44.

Calamos Advisors LLC acquired a new stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 37,841 shares of the transportation company's stock, valued at approximately $2,179,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in KNX. Blue Trust Inc. grew its holdings in shares of Knight-Swift Transportation by 123.9% during the first quarter. Blue Trust Inc. now owns 544 shares of the transportation company's stock worth $31,000 after purchasing an additional 301 shares in the last quarter. Clearstead Advisors LLC grew its holdings in shares of Knight-Swift Transportation by 134.6% during the 4th quarter. Clearstead Advisors LLC now owns 671 shares of the transportation company's stock valued at $35,000 after purchasing an additional 385 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Knight-Swift Transportation during the fourth quarter valued at about $39,000. Fifth Third Bancorp increased its stake in Knight-Swift Transportation by 44.4% in the 4th quarter. Fifth Third Bancorp now owns 868 shares of the transportation company's stock worth $45,000 after purchasing an additional 267 shares during the period. Finally, Caitong International Asset Management Co. Ltd increased its stake in shares of Knight-Swift Transportation by 1,478.6% in the third quarter. Caitong International Asset Management Co. Ltd now owns 884 shares of the transportation company's stock worth $35,000 after buying an additional 828 shares during the period. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Zacks Research upgraded Knight-Swift Transportation from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 30th. Evercore upgraded shares of Knight-Swift Transportation from an "in-line" rating to an "outperform" rating and set a $65.00 price target for the company in a research note on Friday, March 27th. Raymond James Financial raised their price objective on Knight-Swift Transportation from $76.00 to $91.00 and gave the company a "strong-buy" rating in a research report on Thursday, July 2nd. TD Cowen lifted their target price on shares of Knight-Swift Transportation from $60.00 to $78.00 and gave the stock a "buy" rating in a report on Thursday, April 23rd. Finally, Wells Fargo & Company boosted their price target on Knight-Swift Transportation from $65.00 to $86.00 and gave the stock an "overweight" rating in a research note on Friday, June 5th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $80.44.

Knight-Swift Transportation Stock Down 2.3%

KNX stock opened at $73.50 on Thursday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.26. Knight-Swift Transportation Holdings Inc. has a twelve month low of $38.63 and a twelve month high of $82.86. The stock has a market cap of $11.94 billion, a P/E ratio of 349.99, a PEG ratio of 0.84 and a beta of 1.18. The business's 50-day moving average price is $73.99 and its 200-day moving average price is $63.94.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The transportation company reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $0.29 by ($0.20). The firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.85 billion. Knight-Swift Transportation had a return on equity of 2.94% and a net margin of 0.45%.The business's revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.28 earnings per share. On average, equities research analysts forecast that Knight-Swift Transportation Holdings Inc. will post 2.21 EPS for the current year.

Knight-Swift Transportation Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Monday, June 8th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.80 dividend on an annualized basis and a yield of 1.1%. Knight-Swift Transportation's payout ratio is currently 380.95%.

About Knight-Swift Transportation

Knight-Swift Transportation Holdings Inc NYSE: KNX is one of North America's largest asset-based truckload carriers, offering a wide range of transportation and logistics services. The company was formed in 2017 through the merger of Knight Transportation and Swift Transportation, each with decades of experience in long-haul dry van and refrigerated freight. Since the merger, Knight-Swift has pursued a growth strategy that includes fleet expansions, targeted acquisitions, and investments in technology to enhance service reliability and network efficiency.

The company's core business activities include full truckload operations for dry van, temperature-controlled and flatbed shipments.

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