Hub Group, Inc. $HUBG Shares Sold by VELA Investment Management LLC

Key Points

• VELA Investment Management cut its Hub Group stake by 12.9% in the second quarter, selling 38,363 shares and retaining 259,419 shares worth approximately $11.36 million.
• Other institutional investors, including Royal Bank of Canada, AQR Capital Management, UBS Asset Management, and Intech Investment Management, increased their positions; institutional investors collectively own 46.77% of Hub Group.
• Hub Group shares opened at $36.68, below their 50-day and 200-day moving averages. Analysts have a consensus “Hold” rating with an average price target of $43.31.

VELA Investment Management LLC lessened its position in shares of Hub Group, Inc. (NASDAQ:HUBG - Free Report) by 12.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 259,419 shares of the transportation company's stock after selling 38,363 shares during the period. Hub Group comprises 2.5% of VELA Investment Management LLC's holdings, making the stock its 5th largest position. VELA Investment Management LLC owned approximately 0.42% of Hub Group worth $11,360,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Royal Bank of Canada boosted its position in shares of Hub Group by 24.5% during the first quarter. Royal Bank of Canada now owns 11,723 shares of the transportation company's stock worth $435,000 after buying an additional 2,305 shares during the period. AQR Capital Management LLC raised its position in Hub Group by 4.9% in the 1st quarter. AQR Capital Management LLC now owns 59,029 shares of the transportation company's stock valued at $2,194,000 after buying an additional 2,761 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Hub Group by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,637 shares of the transportation company's stock valued at $1,325,000 after buying an additional 1,542 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Hub Group by 3.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 135,795 shares of the transportation company's stock valued at $5,048,000 after acquiring an additional 4,844 shares in the last quarter. Finally, Intech Investment Management LLC lifted its stake in Hub Group by 33.3% in the 1st quarter. Intech Investment Management LLC now owns 39,181 shares of the transportation company's stock valued at $1,456,000 after acquiring an additional 9,791 shares in the last quarter. Institutional investors and hedge funds own 46.77% of the company's stock.

Hub Group Price Performance

HUBG opened at $36.68 on Monday. The business has a fifty day simple moving average of $44.27 and a 200 day simple moving average of $41.94. The company has a market capitalization of $2.24 billion, a PE ratio of 21.20, a price-to-earnings-growth ratio of 1.05 and a beta of 1.19. Hub Group, Inc. has a 1 year low of $32.90 and a 1 year high of $53.26.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Hub Group in a research note on Wednesday, June 24th. Benchmark dropped their price objective 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. Six equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Hub Group currently has a consensus rating of "Hold" and a consensus target price of $43.31.

About Hub Group

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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