Seven Six Capital Management LLC Makes New Investment in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Seven Six Capital Management LLC purchased a new position in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 77,400 shares of the transportation company's stock, valued at approximately $4,105,000. Knight-Swift Transportation accounts for approximately 3.6% of Seven Six Capital Management LLC's portfolio, making the stock its 11th biggest holding.

Several other hedge funds and other institutional investors have also bought and sold shares of KNX. Siemens Fonds Invest GmbH purchased a new position in Knight-Swift Transportation in the fourth quarter valued at about $497,000. Silvercrest Asset Management Group LLC raised its holdings in shares of Knight-Swift Transportation by 6.6% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 7,371 shares of the transportation company's stock worth $391,000 after purchasing an additional 459 shares during the period. Quantinno Capital Management LP lifted its stake in Knight-Swift Transportation by 8.6% in the fourth quarter. Quantinno Capital Management LP now owns 87,922 shares of the transportation company's stock valued at $4,663,000 after purchasing an additional 6,930 shares during the last quarter. Nomura Holdings Inc. lifted its stake in Knight-Swift Transportation by 305.2% in the fourth quarter. Nomura Holdings Inc. now owns 48,647 shares of the transportation company's stock valued at $2,580,000 after purchasing an additional 36,640 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in Knight-Swift Transportation by 13.9% during the fourth quarter. Nuveen Asset Management LLC now owns 469,278 shares of the transportation company's stock valued at $24,891,000 after purchasing an additional 57,255 shares during the period. Hedge funds and other institutional investors own 88.77% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on KNX. Citigroup upgraded Knight-Swift Transportation from a "neutral" rating to a "buy" rating and lowered their target price for the company from $53.00 to $48.00 in a research note on Tuesday, April 8th. Evercore ISI lowered their price objective on Knight-Swift Transportation from $49.00 to $44.00 and set an "in-line" rating on the stock in a research note on Thursday, April 24th. Bank of America increased their target price on shares of Knight-Swift Transportation from $43.00 to $48.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Wall Street Zen raised shares of Knight-Swift Transportation from a "sell" rating to a "hold" rating in a research report on Thursday, January 23rd. Finally, Raymond James dropped their price target on shares of Knight-Swift Transportation from $66.00 to $55.00 and set a "strong-buy" rating on the stock in a research note on Friday, April 11th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Knight-Swift Transportation has a consensus rating of "Moderate Buy" and a consensus target price of $50.73.

Insiders Place Their Bets

In other news, Director Douglas L. Col acquired 5,000 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average cost of $45.37 per share, with a total value of $226,850.00. Following the acquisition, the director now owns 5,000 shares in the company, valued at approximately $226,850. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.00% of the company's stock.

Knight-Swift Transportation Price Performance

Shares of KNX traded up $0.01 during mid-day trading on Thursday, reaching $43.63. 792,385 shares of the stock traded hands, compared to its average volume of 2,966,850. The company has a market cap of $7.07 billion, a price-to-earnings ratio of 59.77 and a beta of 1.18. 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 fifty day moving average price of $42.18 and a 200 day moving average price of $50.15. The company has a current ratio of 0.85, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The transportation company reported $0.28 earnings per share for the quarter, topping analysts' consensus estimates of $0.25 by $0.03. Knight-Swift Transportation had a return on equity of 2.43% and a net margin of 1.59%. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same period in the prior year, the company earned $0.12 EPS. The company's quarterly revenue was up 1.3% compared to the same quarter last year. As a group, equities research analysts predict that Knight-Swift Transportation Holdings Inc. will post 2.13 earnings per share for the current year.

Knight-Swift Transportation Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Monday, June 9th will be paid a $0.18 dividend. The ex-dividend date is Monday, June 9th. This represents a $0.72 dividend on an annualized basis and a yield of 1.65%. Knight-Swift Transportation's dividend payout ratio is presently 76.60%.

Knight-Swift Transportation Profile

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.