Sherbrooke Park Advisers LLC Sells 34,577 Shares of Heartland Express, Inc. (NASDAQ:HTLD)

Sherbrooke Park Advisers LLC lessened its stake in Heartland Express, Inc. (NASDAQ:HTLD - Free Report) by 68.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,594 shares of the transportation company's stock after selling 34,577 shares during the quarter. Sherbrooke Park Advisers LLC's holdings in Heartland Express were worth $175,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of HTLD. Invesco Ltd. lifted its holdings in Heartland Express by 93.4% during the fourth quarter. Invesco Ltd. now owns 591,755 shares of the transportation company's stock worth $6,639,000 after acquiring an additional 285,838 shares during the period. Brandywine Global Investment Management LLC purchased a new position in Heartland Express in the fourth quarter valued at about $2,694,000. Gate City Capital Management LLC grew its position in shares of Heartland Express by 45.8% during the 4th quarter. Gate City Capital Management LLC now owns 590,893 shares of the transportation company's stock valued at $6,630,000 after acquiring an additional 185,718 shares during the period. Keeley Teton Advisors LLC increased its stake in shares of Heartland Express by 100.8% during the 4th quarter. Keeley Teton Advisors LLC now owns 365,421 shares of the transportation company's stock worth $4,100,000 after purchasing an additional 183,450 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Heartland Express by 126.8% in the fourth quarter. JPMorgan Chase & Co. now owns 288,375 shares of the transportation company's stock valued at $3,236,000 after purchasing an additional 161,222 shares during the last quarter. 53.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, major shareholder Ann S. Gerdin Revocable Trust purchased 167,644 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were bought at an average price of $8.95 per share, for a total transaction of $1,500,413.80. Following the purchase, the insider now directly owns 1,214,500 shares of the company's stock, valued at approximately $10,869,775. This represents a 16.01% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael J. Gerdin bought 148,272 shares of the business's stock in a transaction dated Monday, May 5th. The stock was bought at an average cost of $7.85 per share, for a total transaction of $1,163,935.20. Following the completion of the purchase, the chief executive officer now owns 1,461,868 shares of the company's stock, valued at approximately $11,475,663.80. The trade was a 11.29% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 619,031 shares of company stock valued at $5,125,232. Corporate insiders own 40.70% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on HTLD shares. Wall Street Zen cut Heartland Express from a "hold" rating to a "sell" rating in a research report on Monday, May 5th. Barclays dropped their price objective on shares of Heartland Express from $11.00 to $9.00 and set an "underweight" rating on the stock in a report on Wednesday, April 2nd. Finally, JPMorgan Chase & Co. reduced their target price on shares of Heartland Express from $10.00 to $9.00 and set an "underweight" rating for the company in a research note on Thursday, May 1st.

Heartland Express Trading Down 0.7%

Shares of Heartland Express stock traded down $0.06 during trading on Monday, reaching $8.75. The company's stock had a trading volume of 740,280 shares, compared to its average volume of 435,713. The company has a quick ratio of 1.17, a current ratio of 1.08 and a debt-to-equity ratio of 0.23. Heartland Express, Inc. has a 52-week low of $7.11 and a 52-week high of $13.67. The firm's 50-day moving average is $8.60 and its two-hundred day moving average is $10.36. The company has a market cap of $687.35 million, a price-to-earnings ratio of -23.65 and a beta of 1.04.

Heartland Express (NASDAQ:HTLD - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The transportation company reported ($0.18) EPS for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.05). Heartland Express had a negative net margin of 2.84% and a negative return on equity of 3.57%. The firm had revenue of $219.42 million for the quarter, compared to the consensus estimate of $241.37 million. During the same quarter in the prior year, the company earned ($0.19) earnings per share. The company's quarterly revenue was down 18.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Heartland Express, Inc. will post 0.17 earnings per share for the current year.

Heartland Express Company 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.