Wilson Asset Management International PTY Ltd. Sells 12,448 Shares of Old Dominion Freight Line, Inc. $ODFL

Key Points

• Wilson Asset Management International cut its stake in Old Dominion by 40.7%, selling 12,448 shares and retaining 18,148 shares valued at about $2.85 million.
• Insiders sold 102,241 shares (~$19.9M) last quarter, including Chairman David S. Congdon’s sale of 52,000 shares (~$10.13M) and Director Greg C. Gantt’s sale of 22,107 shares (~$4.23M).
• Old Dominion beat quarterly EPS and revenue ($1.14 vs. $1.05 EPS estimate; $1.33B revenue vs. $1.31B estimate) despite revenue declining 2.9% year-over-year; the stock trades near $196 with an average analyst target of $206.46 and a consensus "Hold" rating.

Wilson Asset Management International PTY Ltd. trimmed its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 40.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,148 shares of the transportation company's stock after selling 12,448 shares during the period. Wilson Asset Management International PTY Ltd.'s holdings in Old Dominion Freight Line were worth $2,846,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Verdence Capital Advisors LLC grew its holdings in Old Dominion Freight Line by 1.2% during the 4th quarter. Verdence Capital Advisors LLC now owns 5,181 shares of the transportation company's stock valued at $812,000 after purchasing an additional 60 shares during the last quarter. Diversified Trust Co. grew its holdings in Old Dominion Freight Line by 1.7% during the 4th quarter. Diversified Trust Co. now owns 3,883 shares of the transportation company's stock valued at $609,000 after purchasing an additional 65 shares during the last quarter. Modera Wealth Management LLC grew its stake in Old Dominion Freight Line by 2.7% in the 4th quarter. Modera Wealth Management LLC now owns 2,765 shares of the transportation company's stock worth $434,000 after acquiring an additional 72 shares in the last quarter. Cim LLC grew its stake in Old Dominion Freight Line by 1.0% in the 3rd quarter. Cim LLC now owns 7,685 shares of the transportation company's stock worth $1,082,000 after acquiring an additional 75 shares in the last quarter. Finally, Brighton Jones LLC grew its stake in Old Dominion Freight Line by 5.3% in the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company's stock worth $275,000 after acquiring an additional 79 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Old Dominion Freight Line

In other news, Chairman David S. Congdon sold 52,000 shares of the company's stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $194.77, for a total value of $10,128,040.00. Following the completion of the sale, the chairman owned 712,800 shares of the company's stock, valued at approximately $138,832,056. This represents a 6.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Greg C. Gantt sold 22,107 shares of the company's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $191.52, for a total transaction of $4,233,932.64. Following the completion of the sale, the director directly owned 88,551 shares of the company's stock, valued at $16,959,287.52. The trade was a 19.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 102,241 shares of company stock worth $19,874,065 over the last quarter. 10.00% of the stock is currently owned by company insiders.

Old Dominion Freight Line Stock Performance

Shares of ODFL opened at $196.08 on Wednesday. The company has a 50 day moving average price of $200.89 and a 200-day moving average price of $173.82. Old Dominion Freight Line, Inc. has a fifty-two week low of $126.01 and a fifty-two week high of $233.79. The stock has a market capitalization of $40.84 billion, a PE ratio of 41.02, a PEG ratio of 3.93 and a beta of 1.17.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.09. Old Dominion Freight Line had a net margin of 18.46% and a return on equity of 23.42%. The firm had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.31 billion. During the same quarter in the prior year, the company earned $1.19 EPS. The company's revenue was down 2.9% compared to the same quarter last year. Equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.32 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Wall Street Zen upgraded shares of Old Dominion Freight Line from a "sell" rating to a "hold" rating in a research note on Sunday, January 25th. Barclays set a $210.00 target price on shares of Old Dominion Freight Line and gave the stock an "equal weight" rating in a research note on Thursday, April 30th. UBS Group upped their target price on shares of Old Dominion Freight Line from $202.00 to $216.00 and gave the stock a "neutral" rating in a research note on Thursday, April 30th. Truist Financial set a $225.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, February 5th. Finally, Argus upgraded shares of Old Dominion Freight Line from a "hold" rating to a "buy" rating and set a $220.00 target price on the stock in a research note on Thursday, February 12th. Eight analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Old Dominion Freight Line presently has an average rating of "Hold" and an average price target of $206.46.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company's core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.

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