Black Diamond Financial LLC Takes $257,000 Position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Black Diamond Financial LLC purchased a new position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 5,150 shares of the transportation company’s stock, valued at approximately $257,000.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Knight-Swift Transportation in the fourth quarter valued at approximately $201,232,000. Wellington Management Group LLP lifted its position in shares of Knight-Swift Transportation by 15.7% during the 4th quarter. Wellington Management Group LLP now owns 15,715,804 shares of the transportation company’s stock valued at $906,016,000 after buying an additional 2,137,296 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Knight-Swift Transportation by 10.9% during the 2nd quarter. Victory Capital Management Inc. now owns 7,594,817 shares of the transportation company’s stock worth $379,133,000 after acquiring an additional 744,412 shares during the period. Balyasny Asset Management L.P. increased its holdings in Knight-Swift Transportation by 225.2% in the 4th quarter. Balyasny Asset Management L.P. now owns 865,235 shares of the transportation company’s stock worth $49,881,000 after acquiring an additional 599,193 shares during the last quarter. Finally, Nuance Investments LLC bought a new stake in Knight-Swift Transportation in the 2nd quarter valued at about $26,581,000. Institutional investors own 88.77% of the company’s stock.

Knight-Swift Transportation Stock Up 1.6 %

KNX stock opened at $52.80 on Monday. Knight-Swift Transportation Holdings Inc. has a 1-year low of $45.55 and a 1-year high of $60.99. The stock has a market cap of $8.53 billion, a price-to-earnings ratio of 78.81, a price-to-earnings-growth ratio of 1.42 and a beta of 0.93. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.24. The company’s 50 day moving average is $51.64 and its 200 day moving average is $50.78.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings data on Wednesday, July 24th. The transportation company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.03). Knight-Swift Transportation had a net margin of 0.88% and a return on equity of 1.98%. The company had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter last year, the business posted $0.49 EPS. The business’s quarterly revenue was up 18.9% compared to the same quarter last year. Sell-side analysts predict that Knight-Swift Transportation Holdings Inc. will post 1.1 EPS for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Friday, September 6th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Friday, September 6th. Knight-Swift Transportation’s payout ratio is currently 95.52%.

Insider Activity

In related news, Chairman Kevin P. Knight sold 45,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $51.53, for a total value of $2,318,850.00. Following the completion of the sale, the chairman now owns 1,422,360 shares in the company, valued at approximately $73,294,210.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Chairman Kevin P. Knight sold 30,000 shares of Knight-Swift Transportation stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $50.33, for a total value of $1,509,900.00. Following the transaction, the chairman now owns 1,467,360 shares in the company, valued at $73,852,228.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Kevin P. Knight sold 45,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $51.53, for a total value of $2,318,850.00. Following the sale, the chairman now owns 1,422,360 shares of the company’s stock, valued at $73,294,210.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 85,196 shares of company stock worth $4,367,869. 3.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Barclays increased their target price on shares of Knight-Swift Transportation from $57.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. UBS Group reduced their price objective on shares of Knight-Swift Transportation from $59.00 to $58.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Wolfe Research downgraded Knight-Swift Transportation from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 11th. Bank of America raised their price target on Knight-Swift Transportation from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Finally, TD Cowen boosted their price objective on Knight-Swift Transportation from $47.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Knight-Swift Transportation has a consensus rating of “Moderate Buy” and an average price target of $57.14.

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.