Fox Run Management L.L.C. Buys Shares of 43,042 Heartland Express, Inc. $HTLD

Key Points

• Fox Run Management L.L.C. invested approximately $397,000 in Heartland Express, acquiring 43,042 shares in the first quarter, representing about 0.05% ownership.
• Insider transactions revealed that CEO Michael J. Gerdin purchased 24,798 shares at an average price of $8.19, increasing his stake by 1.69% to 1,491,868 shares valued at around $12.2 million.
• Heartland Express reported a missed earnings estimate of ($0.14) EPS, with revenue declining 23.4% year-over-year, leading analysts to forecast an average price target of $9.70 with a consensus rating of "Hold."

Fox Run Management L.L.C. bought a new position in Heartland Express, Inc. (NASDAQ:HTLD - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 43,042 shares of the transportation company's stock, valued at approximately $397,000. Fox Run Management L.L.C. owned approximately 0.05% of Heartland Express at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in HTLD. MetLife Investment Management LLC lifted its holdings in shares of Heartland Express by 8.3% during the fourth quarter. MetLife Investment Management LLC now owns 28,579 shares of the transportation company's stock valued at $321,000 after purchasing an additional 2,189 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Heartland Express by 196.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 45,273 shares of the transportation company's stock valued at $417,000 after acquiring an additional 30,010 shares during the period. SG Americas Securities LLC lifted its holdings in Heartland Express by 149.2% in the first quarter. SG Americas Securities LLC now owns 48,681 shares of the transportation company's stock valued at $449,000 after acquiring an additional 29,145 shares during the period. Principal Financial Group Inc. increased its position in Heartland Express by 2.6% in the first quarter. Principal Financial Group Inc. now owns 215,713 shares of the transportation company's stock worth $1,989,000 after buying an additional 5,447 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in Heartland Express by 36.8% in the fourth quarter. Wells Fargo & Company MN now owns 25,368 shares of the transportation company's stock worth $285,000 after buying an additional 6,821 shares in the last quarter. 53.45% of the stock is owned by institutional investors.

Heartland Express Trading Up 6.7%

Shares of HTLD stock traded up $0.55 on Friday, reaching $8.76. 619,674 shares of the company's stock were exchanged, compared to its average volume of 727,192. Heartland Express, Inc. has a 52 week low of $7.11 and a 52 week high of $12.85. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $678.11 million, a PE ratio of -19.04 and a beta of 1.06. The company's fifty day simple moving average is $8.50 and its 200 day simple moving average is $8.94.

Heartland Express (NASDAQ:HTLD - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The transportation company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.06). Heartland Express had a negative return on equity of 4.42% and a negative net margin of 3.85%.The business had revenue of $210.39 million for the quarter, compared to the consensus estimate of $229.12 million. During the same period in the prior year, the business posted ($0.04) earnings per share. Heartland Express's revenue was down 23.4% on a year-over-year basis. As a group, analysts forecast that Heartland Express, Inc. will post 0.17 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Morgan Stanley cut their target price on Heartland Express from $12.00 to $11.00 and set an "equal weight" rating for the company in a research report on Monday, August 4th. Wall Street Zen lowered Heartland Express from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. Robert W. Baird lowered their price objective on Heartland Express from $9.00 to $8.50 and set a "neutral" rating for the company in a research note on Monday, July 28th. Baird R W raised Heartland Express to a "hold" rating in a research note on Tuesday, July 1st. Finally, JPMorgan Chase & Co. lowered their price objective on Heartland Express from $10.00 to $9.00 and set an "underweight" rating for the company in a research note on Thursday, May 1st. Four investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Reduce" and a consensus target price of $9.70.

Insider Activity

In other Heartland Express news, CEO Michael J. Gerdin purchased 24,798 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The stock was purchased at an average cost of $8.19 per share, with a total value of $203,095.62. Following the purchase, the chief executive officer owned 1,491,868 shares of the company's stock, valued at approximately $12,218,398.92. The trade was a 1.69% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders purchased 30,000 shares of company stock worth $245,752. 40.70% of the stock is currently owned by company insiders.

Heartland Express Profile

Heartland Express, Inc, together with its subsidiaries, operates as a short-to-medium, and long-haul truckload carrier in the United States and Canada. It primarily provides nationwide asset-based dry van truckload service for shippers; cross-border freight and other transportation services; and temperature-controlled truckload services.