Calamos Advisors LLC Sells 35,082 Shares of Knight-Swift Transportation Holdings Inc. $KNX

Key Points

• Calamos Advisors cut its Knight-Swift stake by 61% in the third quarter, selling 35,082 shares and retaining 22,397 shares valued at about $1.42 million.
• Knight-Swift reported quarterly EPS of $0.83, beating the $0.76 consensus, while revenue of $2.20 billion exceeded expectations and rose 14.2% year over year.
• Analysts held a “Moderate Buy” consensus rating with an average price target of $83.22. The company also declared a quarterly dividend of $0.20 per share, equivalent to a 1.3% yield.

Calamos Advisors LLC cut its position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 61.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,397 shares of the transportation company's stock after selling 35,082 shares during the period. Calamos Advisors LLC's holdings in Knight-Swift Transportation were worth $1,424,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kestra Advisory Services LLC bought a new stake in Knight-Swift Transportation during the 3rd quarter valued at $279,000. Chicago Partners Investment Group LLC increased its holdings in Knight-Swift Transportation by 18.0% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 12,604 shares of the transportation company's stock worth $772,000 after purchasing an additional 1,920 shares in the last quarter. Provenance Wealth Advisors LLC bought a new stake in Knight-Swift Transportation during the 3rd quarter worth approximately $53,000. Oregon Public Employees Retirement Fund increased its holdings in Knight-Swift Transportation by 0.6% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 33,758 shares of the transportation company's stock worth $2,147,000 after purchasing an additional 200 shares in the last quarter. Finally, Vise Technologies Inc. raised its stake in shares of Knight-Swift Transportation by 104.8% in the third quarter. Vise Technologies Inc. now owns 17,666 shares of the transportation company's stock worth $1,123,000 after purchasing an additional 9,041 shares during the last quarter. 88.77% of the stock is owned by institutional investors.

Knight-Swift Transportation Trading Up 5.5%

KNX stock opened at $61.64 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market capitalization of $10.03 billion, a PE ratio of 66.28, a price-to-earnings-growth ratio of 0.51 and a beta of 1.20. The company's 50 day moving average price is $64.82 and its two-hundred day moving average price is $66.07. Knight-Swift Transportation Holdings Inc. has a one year low of $41.24 and a one year high of $82.86.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last announced its quarterly earnings data on Wednesday, October 21st. The transportation company reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.76 by $0.07. The firm had revenue of $2.20 billion for the quarter, compared to analysts' expectations of $2.16 billion. Knight-Swift Transportation had a return on equity of 4.71% and a net margin of 1.92%. The company's revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period last year, the firm earned $0.32 earnings per share. As a group, analysts predict that Knight-Swift Transportation Holdings Inc. will post 2.47 earnings per share for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 21st. Shareholders of record on Monday, December 7th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Monday, December 7th. Knight-Swift Transportation's dividend payout ratio (DPR) is 86.02%.

Analyst Ratings Changes

Several research analysts recently issued reports on KNX shares. Wells Fargo & Company cut their target price on Knight-Swift Transportation from $81.00 to $79.00 and set an "overweight" rating on the stock in a research report on Thursday, October 22nd. Morgan Stanley set a $90.00 target price on Knight-Swift Transportation in a research note on Wednesday, September 2nd. JPMorgan Chase & Co. increased their price target on shares of Knight-Swift Transportation from $68.00 to $74.00 and gave the company a "neutral" rating in a research report on Thursday, October 22nd. Susquehanna upped their price target on Knight-Swift Transportation from $85.00 to $93.00 and gave the company a "positive" rating in a research report on Monday, October 26th. Finally, TD Cowen lifted their price target on Knight-Swift Transportation from $82.00 to $86.00 and gave the company a "buy" rating in a research report on Thursday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Knight-Swift Transportation has a consensus rating of "Moderate Buy" and a consensus target price of $83.22.

Insider Transactions at Knight-Swift Transportation

In other news, Director David Vander Ploeg sold 2,200 shares of Knight-Swift Transportation stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $52.33, for a total value of $115,126.00. Following the sale, the director directly owned 30,252 shares in the company, valued at approximately $1,583,087.16. This trade represents a 6.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Reid Dove sold 126,864 shares of the business's stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $73.13, for a total value of $9,277,564.32. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 171,354 shares of company stock worth $12,416,002. 2.90% of the stock is owned by company insiders.

Knight-Swift Transportation Profile

Knight-Swift Transportation Holdings is a transportation and logistics company providing freight services primarily across North America. Its offerings include truckload transportation, less-than-truckload shipping, freight brokerage, logistics and intermodal services.

The company's truckload operations serve a range of shipping needs, including dry van, refrigerated, flatbed and dedicated transportation. Its network also supports cross-border freight movements between the United States, Mexico and Canada.

Knight-Swift was formed in 2017 through the merger of Knight Transportation and Swift Transportation.

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