Empowered Funds LLC Invests $5.42 Million in Heartland Express, Inc. $HTLD

Key Points

• Empowered Funds LLC acquired 356,418 Heartland Express shares valued at approximately $5.42 million, giving it a 0.46% stake. Institutional investors collectively own 53.45% of the company.
• Heartland Express reported quarterly revenue of $152.38 million, below analysts’ $185.08 million expectation, while revenue declined 12.5% year over year. The company posted $0.14 in earnings per share but continues to have negative net margins.
• Analyst sentiment remains mixed, with an average “Hold” rating and a $13 price target; shares recently opened at $12.36. Insider ownership is substantial at 41.60%, although a director recently sold shares worth about $492,000.

Empowered Funds LLC bought a new position in shares of Heartland Express, Inc. (NASDAQ:HTLD - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm bought 356,418 shares of the transportation company's stock, valued at approximately $5,425,000. Empowered Funds LLC owned approximately 0.46% of Heartland Express as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Heartland Express during the second quarter worth about $104,523,000. Dimensional Fund Advisors LP raised its stake in shares of Heartland Express by 5.5% in the first quarter. Dimensional Fund Advisors LP now owns 3,873,653 shares of the transportation company's stock valued at $40,285,000 after acquiring an additional 201,151 shares during the last quarter. Gate City Capital Management LLC boosted its holdings in shares of Heartland Express by 8.3% in the 4th quarter. Gate City Capital Management LLC now owns 2,192,807 shares of the transportation company's stock worth $19,801,000 after acquiring an additional 167,962 shares in the last quarter. State Street Corp boosted its holdings in shares of Heartland Express by 1.8% in the 4th quarter. State Street Corp now owns 1,961,907 shares of the transportation company's stock worth $17,755,000 after acquiring an additional 35,355 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of Heartland Express by 72.7% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,153,238 shares of the transportation company's stock worth $9,664,000 after acquiring an additional 485,658 shares in the last quarter. 53.45% of the stock is owned by institutional investors.

Heartland Express Price Performance

HTLD opened at $12.36 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.58 and a quick ratio of 1.58. The stock has a market capitalization of $955.80 million, a P/E ratio of -44.14 and a beta of 1.33. The company's 50 day simple moving average is $13.72 and its 200-day simple moving average is $12.80. Heartland Express, Inc. has a one year low of $6.99 and a one year high of $16.64.

Heartland Express (NASDAQ:HTLD - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The transportation company reported $0.14 earnings per share for the quarter. Heartland Express had a negative net margin of 2.98% and a negative return on equity of 0.92%. The firm had revenue of $152.38 million during the quarter, compared to analysts' expectations of $185.08 million. During the same quarter in the previous year, the company posted ($0.14) EPS. Heartland Express's revenue was down 12.5% on a year-over-year basis. Sell-side analysts anticipate that Heartland Express, Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Activity at Heartland Express

In other news, Director David Paul Millis sold 31,402 shares of Heartland Express stock in a transaction on Monday, June 15th. The stock was sold at an average price of $15.67, for a total value of $492,069.34. Following the completion of the sale, the director directly owned 28,387 shares of the company's stock, valued at approximately $444,824.29. This trade represents a 52.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 41.60% of the company's stock.

Analysts Set New Price Targets

HTLD has been the subject of a number of recent analyst reports. Wall Street Zen raised Heartland Express from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. Barclays reduced their price objective on Heartland Express from $14.00 to $12.00 and set an "underweight" rating on the stock in a research note on Thursday, August 13th. Morgan Stanley increased their target price on Heartland Express from $12.00 to $13.00 and gave the stock an "equal weight" rating in a report on Monday, July 6th. UBS Group raised their target price on Heartland Express from $12.00 to $13.00 and gave the company a "neutral" rating in a research note on Thursday, August 6th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Heartland Express in a report on Wednesday, June 24th. One investment 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 issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $13.00.

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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