Knight-Swift Transportation Holdings Inc. $KNX Shares Sold by Triton Wealth Management PLLC

Key Points

• Triton Wealth Management cut its Knight-Swift Transportation stake by 90.7% in the fourth quarter, leaving it with 49,338 shares valued at about $2.58 million.
• Wall Street analysts remain constructive on KNX, with several raising price targets; the stock currently carries a Moderate Buy consensus and a $66.71 average price target.
• Knight-Swift reported Q1 EPS of $0.09, missing expectations, while revenue came in at $1.85 billion in line with estimates. The company also announced a quarterly dividend of $0.20 per share.

Triton Wealth Management PLLC decreased its holdings in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 90.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,338 shares of the transportation company's stock after selling 481,779 shares during the quarter. Knight-Swift Transportation comprises about 1.0% of Triton Wealth Management PLLC's investment portfolio, making the stock its 20th biggest position. Triton Wealth Management PLLC's holdings in Knight-Swift Transportation were worth $2,579,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Hussman Strategic Advisors Inc. acquired a new stake in shares of Knight-Swift Transportation during the third quarter worth $830,000. Victory Capital Management Inc. raised its position in Knight-Swift Transportation by 0.9% in the third quarter. Victory Capital Management Inc. now owns 8,496,137 shares of the transportation company's stock valued at $335,682,000 after purchasing an additional 76,342 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Knight-Swift Transportation during the third quarter worth about $749,000. AXQ Capital LP purchased a new stake in shares of Knight-Swift Transportation during the third quarter worth about $913,000. Finally, William Blair Investment Management LLC increased its position in shares of Knight-Swift Transportation by 8,184.6% during the third quarter. William Blair Investment Management LLC now owns 509,919 shares of the transportation company's stock worth $20,147,000 after acquiring an additional 503,764 shares during the last quarter. Institutional investors and hedge funds own 88.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on KNX. Wells Fargo & Company lifted their target price on Knight-Swift Transportation from $60.00 to $65.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 7th. UBS Group lifted their target price on Knight-Swift Transportation from $66.00 to $79.00 and gave the stock a "buy" rating in a research report on Thursday, April 23rd. Susquehanna lifted their target price on Knight-Swift Transportation from $60.00 to $72.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 22nd. Weiss Ratings raised Knight-Swift Transportation from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, April 15th. Finally, Stifel Nicolaus lifted their target price on Knight-Swift Transportation from $63.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Knight-Swift Transportation presently has a consensus rating of "Moderate Buy" and a consensus price target of $66.71.

Knight-Swift Transportation Stock Performance

Shares of KNX stock opened at $68.09 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.26. The business has a 50 day moving average of $59.83 and a two-hundred day moving average of $55.28. Knight-Swift Transportation Holdings Inc. has a 52 week low of $38.63 and a 52 week high of $68.36. The company has a market cap of $11.06 billion, a P/E ratio of 324.27 and a beta of 1.15.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The transportation company reported $0.09 EPS for the quarter, missing analysts' consensus estimates of $0.29 by ($0.20). The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.85 billion. Knight-Swift Transportation had a net margin of 0.45% and a return on equity of 2.94%. The business's revenue was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.28 earnings per share. As a group, analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 2.09 EPS for the current year.

Knight-Swift Transportation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Monday, June 8th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, June 8th. This represents a $0.80 annualized dividend and a dividend yield of 1.2%. Knight-Swift Transportation's payout ratio is currently 380.95%.

Insider Activity at Knight-Swift Transportation

In other news, CFO Joshua Smith sold 5,770 shares of the business's stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $60.91, for a total transaction of $351,450.70. Following the completion of the transaction, the chief financial officer directly owned 9,214 shares in the company, valued at approximately $561,224.74. The trade was a 38.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Kevin P. Knight sold 30,000 shares of the business's stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $61.00, for a total value of $1,830,000.00. Following the transaction, the chairman owned 1,305,347 shares of the company's stock, valued at approximately $79,626,167. This represents a 2.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 2.90% of the company's stock.

Knight-Swift Transportation Company Profile

Knight-Swift Transportation Holdings Inc NYSE: KNX is one of North America's largest asset-based truckload carriers, offering a wide range of transportation and logistics services. The company was formed in 2017 through the merger of Knight Transportation and Swift Transportation, each with decades of experience in long-haul dry van and refrigerated freight. Since the merger, Knight-Swift has pursued a growth strategy that includes fleet expansions, targeted acquisitions, and investments in technology to enhance service reliability and network efficiency.

The company's core business activities include full truckload operations for dry van, temperature-controlled and flatbed shipments.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.