GAMMA Investing LLC Purchases 44,982 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

GAMMA Investing LLC grew its position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 3,369.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,317 shares of the transportation company's stock after acquiring an additional 44,982 shares during the period. GAMMA Investing LLC's holdings in Knight-Swift Transportation were worth $2,014,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of KNX. Legato Capital Management LLC raised its stake in shares of Knight-Swift Transportation by 149.3% in the fourth quarter. Legato Capital Management LLC now owns 13,385 shares of the transportation company's stock valued at $710,000 after acquiring an additional 8,015 shares during the last quarter. Rhumbline Advisers raised its position in Knight-Swift Transportation by 2.0% in the 4th quarter. Rhumbline Advisers now owns 471,677 shares of the transportation company's stock worth $25,018,000 after purchasing an additional 9,396 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in Knight-Swift Transportation in the 4th quarter worth approximately $1,796,000. Allworth Financial LP raised its position in Knight-Swift Transportation by 28.7% in the 4th quarter. Allworth Financial LP now owns 2,197 shares of the transportation company's stock worth $121,000 after purchasing an additional 490 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Knight-Swift Transportation by 42.9% in the 4th quarter. Principal Financial Group Inc. now owns 933,359 shares of the transportation company's stock worth $49,505,000 after purchasing an additional 280,121 shares during the last quarter. Institutional investors own 88.77% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on KNX. UBS Group dropped their price objective on shares of Knight-Swift Transportation from $63.00 to $46.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Stifel Nicolaus lowered their target price on shares of Knight-Swift Transportation from $57.00 to $49.00 and set a "hold" rating for the company in a report on Monday, April 14th. Evercore ISI lowered their target price on shares of Knight-Swift Transportation from $49.00 to $44.00 and set an "in-line" rating for the company in a report on Thursday, April 24th. Barclays lowered their target price on shares of Knight-Swift Transportation from $62.00 to $58.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Finally, Bank of America boosted their price target on shares of Knight-Swift Transportation from $43.00 to $48.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Knight-Swift Transportation presently has an average rating of "Moderate Buy" and a consensus target price of $52.67.

Knight-Swift Transportation Trading Down 3.0%

KNX opened at $42.71 on Friday. The stock has a market capitalization of $6.92 billion, a P/E ratio of 58.51 and a beta of 1.18. Knight-Swift Transportation Holdings Inc. has a 12 month low of $36.69 and a 12 month high of $61.51. The firm's fifty day simple moving average is $42.35 and its 200 day simple moving average is $48.64. The company has a current ratio of 0.85, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.25 by $0.03. Knight-Swift Transportation had a net margin of 1.59% and a return on equity of 2.43%. The firm had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $1.83 billion. During the same period in the previous year, the firm posted $0.12 EPS. The company's revenue for the quarter was up 1.3% on a year-over-year basis. As a group, research analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 2.13 EPS for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Monday, June 9th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.72 annualized dividend and a yield of 1.69%. Knight-Swift Transportation's dividend payout ratio (DPR) is currently 76.60%.

About Knight-Swift Transportation

Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides freight transportation services in the United States and Mexico. The company operates through four segments: Truckload, Less-than-truckload (LTL), Logistics, and Intermodal. The Truckload segment provides transportation services, which include irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.

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