Pallas Capital Advisors LLC Acquires New Position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Pallas Capital Advisors LLC bought a new stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 22,398 shares of the transportation company's stock, valued at approximately $974,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust boosted its holdings in shares of Knight-Swift Transportation by 88.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 685 shares of the transportation company's stock worth $36,000 after buying an additional 322 shares during the period. UMB Bank n.a. boosted its holdings in Knight-Swift Transportation by 40.0% during the first quarter. UMB Bank n.a. now owns 1,133 shares of the transportation company's stock valued at $49,000 after acquiring an additional 324 shares during the period. Arcadia Investment Management Corp MI grew its position in shares of Knight-Swift Transportation by 167.2% in the fourth quarter. Arcadia Investment Management Corp MI now owns 1,336 shares of the transportation company's stock valued at $71,000 after purchasing an additional 836 shares during the last quarter. Quarry LP grew its position in shares of Knight-Swift Transportation by 41.6% in the fourth quarter. Quarry LP now owns 1,701 shares of the transportation company's stock valued at $90,000 after purchasing an additional 500 shares during the last quarter. Finally, Generali Asset Management SPA SGR bought a new position in shares of Knight-Swift Transportation in the fourth quarter worth about $99,000. Institutional investors and hedge funds own 88.77% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. TD Securities decreased their target price on Knight-Swift Transportation from $55.00 to $49.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Bank of America boosted their price objective on Knight-Swift Transportation from $43.00 to $48.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Evercore ISI reduced their target price on Knight-Swift Transportation from $49.00 to $44.00 and set an "in-line" rating for the company in a research report on Thursday, April 24th. The Goldman Sachs Group upgraded shares of Knight-Swift Transportation from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $45.00 to $65.00 in a research note on Monday, June 2nd. Finally, Stifel Nicolaus reduced their price objective 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. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Knight-Swift Transportation currently has an average rating of "Moderate Buy" and an average price target of $52.67.

Knight-Swift Transportation Price Performance

NYSE KNX traded down $0.27 on Thursday, hitting $43.41. 632,588 shares of the company were exchanged, compared to its average volume of 2,866,979. Knight-Swift Transportation Holdings Inc. has a 1-year low of $36.69 and a 1-year high of $61.51. The firm has a 50 day moving average of $42.19 and a two-hundred day moving average of $48.86. The company has a current ratio of 0.85, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30. The company has a market cap of $7.03 billion, a P/E ratio of 59.47 and a beta of 1.18.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same quarter last year, the business posted $0.12 earnings per share. Knight-Swift Transportation's revenue for the quarter was up 1.3% compared to the same quarter last year. On average, equities analysts predict that Knight-Swift Transportation Holdings Inc. will post 2.13 EPS for the current year.

Knight-Swift Transportation Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Monday, June 9th will be given a $0.18 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.72 dividend on an annualized basis and a yield of 1.66%. Knight-Swift Transportation's payout ratio is 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.