Invesco Ltd. Sells 40,032 Shares of Heartland Express, Inc. $HTLD

Key Points

• Invesco Ltd. has reduced its ownership in Heartland Express, Inc. by 6.8%, now holding 551,723 shares worth approximately $5 million.
• Heartland Express reported a revenue decline of 23.4% year-over-year and posted a loss of ($0.14) earnings per share, which fell short of analysts' estimates.
• Analysts have issued mixed ratings for Heartland Express, with consensus target price revised down to $9.70 and a notable shift to a "sell" rating from some firms.

Invesco Ltd. decreased its position in shares of Heartland Express, Inc. (NASDAQ:HTLD - Free Report) by 6.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 551,723 shares of the transportation company's stock after selling 40,032 shares during the period. Invesco Ltd. owned 0.70% of Heartland Express worth $5,087,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of HTLD. Two Sigma Advisers LP boosted its position in Heartland Express by 55.6% during the fourth quarter. Two Sigma Advisers LP now owns 560,300 shares of the transportation company's stock valued at $6,287,000 after purchasing an additional 200,100 shares during the last quarter. Gate City Capital Management LLC boosted its position in Heartland Express by 45.8% during the fourth quarter. Gate City Capital Management LLC now owns 590,893 shares of the transportation company's stock valued at $6,630,000 after purchasing an additional 185,718 shares during the last quarter. Bastion Asset Management Inc. acquired a new stake in Heartland Express during the first quarter valued at $1,537,000. Cubist Systematic Strategies LLC acquired a new stake in Heartland Express during the fourth quarter valued at $1,566,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Heartland Express by 3.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,506,139 shares of the transportation company's stock worth $39,338,000 after buying an additional 123,399 shares during the last quarter. Institutional investors and hedge funds own 53.45% of the company's stock.

Insider Transactions at Heartland Express

In other news, CEO Michael J. Gerdin purchased 24,798 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were purchased at an average cost of $8.19 per share, for a total transaction of $203,095.62. Following the completion of the purchase, the chief executive officer directly 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders bought 30,000 shares of company stock worth $245,752 in the last 90 days. Insiders own 40.70% of the company's stock.

Heartland Express Stock Performance

Shares of NASDAQ HTLD traded up $0.01 during trading hours on Monday, hitting $8.59. 355,417 shares of the company's stock were exchanged, compared to its average volume of 679,321. Heartland Express, Inc. has a 1-year low of $7.11 and a 1-year high of $12.85. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $664.95 million, a price-to-earnings ratio of -18.67 and a beta of 1.08. The company's 50-day moving average price is $8.49 and its 200-day moving average price is $8.85.

Heartland Express (NASDAQ:HTLD - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The transportation company reported ($0.14) earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $229.12 million. During the same period in the prior year, the firm posted ($0.04) EPS. Heartland Express's revenue for the quarter was down 23.4% on a year-over-year basis. On average, sell-side analysts expect that Heartland Express, Inc. will post 0.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on HTLD shares. Morgan Stanley reduced their price target 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. Robert W. Baird reduced their price target on Heartland Express from $9.00 to $8.50 and set a "neutral" rating for the company in a research report on Monday, July 28th. Barclays reduced their price target on Heartland Express from $9.00 to $8.00 and set an "underweight" rating for the company in a research report on Wednesday, August 6th. Baird R W raised Heartland Express to a "hold" rating in a research report on Tuesday, July 1st. Finally, Wall Street Zen cut Heartland Express from a "hold" rating to a "sell" rating in a research report on Monday, May 5th. Four research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Reduce" and an average price target of $9.70.

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.