VELA Investment Management LLC reduced its position in shares of Hub Group, Inc. (NASDAQ:HUBG - Free Report) by 12.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 265,796 shares of the transportation company's stock after selling 38,363 shares during the period. Hub Group accounts for about 2.5% of VELA Investment Management LLC's investment portfolio, making the stock its 5th largest position. VELA Investment Management LLC owned about 0.43% of Hub Group worth $11,639,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. Nykredit A S acquired a new position in shares of Hub Group in the second quarter valued at approximately $25,000. Headlands Technologies LLC acquired a new stake in Hub Group during the second quarter worth approximately $205,000. Wellington Management Group LLP boosted its position in Hub Group by 7.1% during the second quarter. Wellington Management Group LLP now owns 7,446,774 shares of the transportation company's stock worth $326,094,000 after acquiring an additional 491,130 shares during the last quarter. Legacy Wealth Asset Management LLC purchased a new stake in Hub Group in the 2nd quarter worth approximately $218,000. Finally, Versant Capital Management Inc grew its stake in Hub Group by 10.6% in the 2nd quarter. Versant Capital Management Inc now owns 2,588 shares of the transportation company's stock worth $113,000 after acquiring an additional 248 shares during the period. 46.77% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the company. Benchmark reduced their price target on Hub Group from $50.00 to $42.00 and set a "buy" rating on the stock in a research note on Thursday, May 14th. Weiss Ratings restated a "hold (c)" rating on shares of Hub Group in a report on Wednesday, June 24th. Six investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $43.31.
Get Our Latest Analysis on HUBG
Hub Group Price Performance
Shares of HUBG stock opened at $36.68 on Monday. The firm's 50-day simple moving average is $44.27 and its 200-day simple moving average is $41.94. Hub Group, Inc. has a 1-year low of $32.90 and a 1-year high of $53.26. The firm has a market cap of $2.24 billion, a P/E ratio of 21.20, a PEG ratio of 1.05 and a beta of 1.19.
Hub Group Company Profile
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Free Report)
Hub Group, Inc NASDAQ: HUBG is a leading supply chain solutions provider headquartered in Oak Brook, Illinois. Founded in 1971 as Hub City Terminals and renamed Hub Group in 1978, the company completed its initial public offering in 2007. Over the decades, Hub Group has developed a comprehensive multimodal transportation network, leveraging partnerships with major rail carriers and an extensive drayage fleet to offer cost-efficient, sustainable shipping alternatives.
The company operates through two primary segments: Intermodal and Transportation Management.
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