Wallace Capital Management Inc. Invests $14.69 Million in Heartland Express, Inc. $HTLD

Wallace Capital Management Inc. bought a new stake in shares of Heartland Express, Inc. (NASDAQ:HTLD - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 965,007 shares of the transportation company's stock, valued at approximately $14,687,000. Heartland Express makes up about 1.6% of Wallace Capital Management Inc.'s investment portfolio, making the stock its 17th biggest position. Wallace Capital Management Inc. owned approximately 1.25% of Heartland Express as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Jump Financial LLC grew its position in Heartland Express by 7.6% during the fourth quarter. Jump Financial LLC now owns 12,252 shares of the transportation company's stock valued at $111,000 after buying an additional 870 shares during the period. GAMMA Investing LLC increased its holdings in Heartland Express by 18.1% in the second quarter. GAMMA Investing LLC now owns 6,525 shares of the transportation company's stock valued at $99,000 after buying an additional 999 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Heartland Express by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,708 shares of the transportation company's stock worth $255,000 after acquiring an additional 1,170 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Heartland Express by 76.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,905 shares of the transportation company's stock worth $26,000 after acquiring an additional 1,261 shares during the period. Finally, Legal & General Group Plc boosted its stake in shares of Heartland Express by 1.0% during the 2nd quarter. Legal & General Group Plc now owns 126,736 shares of the transportation company's stock worth $1,095,000 after acquiring an additional 1,262 shares in the last quarter. 53.45% of the stock is currently owned by institutional investors and hedge funds.

Heartland Express Price Performance

Shares of NASDAQ HTLD opened at $12.47 on Thursday. The firm has a 50-day simple moving average of $13.85 and a 200-day simple moving average of $12.79. The stock has a market capitalization of $964.31 million, a price-to-earnings ratio of -44.53 and a beta of 1.33. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.18. Heartland Express, Inc. has a 52 week low of $6.99 and a 52 week high of $16.64.

Heartland Express (NASDAQ:HTLD - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The transportation company reported $0.14 earnings per share for the quarter. Heartland Express had a negative net margin of 2.98% and a negative return on equity of 0.92%. The firm had revenue of $152.38 million for the quarter, compared to the consensus estimate of $185.08 million. During the same period last year, the firm posted ($0.14) earnings per share. The company's revenue for the quarter was down 12.5% on a year-over-year basis. On average, equities analysts predict that Heartland Express, Inc. will post 0.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on HTLD shares. JPMorgan Chase & Co. raised their target price on Heartland Express from $11.00 to $12.00 and gave the company an "underweight" rating in a research report on Friday, July 31st. Wall Street Zen raised Heartland Express from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. Barclays lowered their price target on Heartland Express from $14.00 to $12.00 and set an "underweight" rating on the stock in a research report on Thursday, August 13th. UBS Group raised their price objective on Heartland Express from $12.00 to $13.00 and gave the company a "neutral" rating in a report on Thursday, August 6th. Finally, Zacks Research upgraded Heartland Express from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $13.00.

Insiders Place Their Bets

In other news, Director David Paul Millis sold 31,402 shares of the business's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $15.67, for a total transaction of $492,069.34. Following the transaction, the director directly owned 28,387 shares in the company, valued at $444,824.29. The trade was a 52.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 41.60% of the stock is owned by company insiders.

Heartland Express Profile

Heartland Express, Inc NASDAQ: HTLD is a publicly traded truckload carrier headquartered in North Liberty, Iowa. The company specializes in full truckload transportation, offering dry-van services that connect shippers with customers across the continental United States. Its primary focus is on over-the-road freight movements, serving industries such as manufacturing, retail, and consumer goods.

Founded in 1978 as Heartland Motor Freight, the company has grown from a regional carrier into one of the larger U.S.

Want to see what other hedge funds are holding HTLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Heartland Express, Inc. (NASDAQ:HTLD - Free Report).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source