Short Interest in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Decreases By 29.1%

Knight-Swift Transportation Holdings Inc. (NYSE:KNX) was the target of a large decrease in short interest in March. As of March 15th, there was short interest totalling 6,150,000 shares, a decrease of 29.1% from the February 28th total of 8,670,000 shares. Approximately 3.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 2,700,000 shares, the short-interest ratio is presently 2.3 days.

Insider Transactions at Knight-Swift Transportation

In related news, Director Douglas L. Col purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average price of $45.37 per share, with a total value of $226,850.00. Following the purchase, the director now directly owns 5,000 shares in the company, valued at $226,850. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Knight-Swift Transportation

A number of large investors have recently made changes to their positions in KNX. Parkside Financial Bank & Trust increased its position in Knight-Swift Transportation by 88.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 685 shares of the transportation company’s stock worth $36,000 after acquiring an additional 322 shares during the period. UMB Bank n.a. increased its position in shares of Knight-Swift Transportation by 84.3% in the fourth quarter. UMB Bank n.a. now owns 809 shares of the transportation company’s stock worth $43,000 after purchasing an additional 370 shares during the period. Quarry LP increased its position in shares of Knight-Swift Transportation by 71.1% in the third quarter. Quarry LP now owns 1,201 shares of the transportation company’s stock worth $65,000 after purchasing an additional 499 shares during the period. MassMutual Private Wealth & Trust FSB raised its stake in Knight-Swift Transportation by 20.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,254 shares of the transportation company’s stock valued at $67,000 after purchasing an additional 213 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Knight-Swift Transportation by 18.5% during the fourth quarter. GAMMA Investing LLC now owns 1,335 shares of the transportation company’s stock worth $71,000 after purchasing an additional 208 shares during the period. Institutional investors own 88.77% of the company’s stock.

Knight-Swift Transportation Stock Down 0.1 %

Shares of KNX stock traded down $0.03 during trading on Monday, reaching $43.52. The company’s stock had a trading volume of 2,507,378 shares, compared to its average volume of 2,211,993. The company has a market cap of $7.05 billion, a price-to-earnings ratio of 59.62 and a beta of 0.97. Knight-Swift Transportation has a one year low of $42.51 and a one year high of $61.51. The business has a fifty day moving average price of $50.99 and a 200-day moving average price of $53.10. The company has a quick ratio of 1.01, a current ratio of 0.85 and a debt-to-equity ratio of 0.30.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings data on Wednesday, January 22nd. The transportation company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. Knight-Swift Transportation had a net margin of 1.59% and a return on equity of 2.43%. Analysts anticipate that Knight-Swift Transportation will post 2.13 earnings per share for the current year.

Knight-Swift Transportation Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.65%. This is a boost from Knight-Swift Transportation’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Friday, March 7th. Knight-Swift Transportation’s payout ratio is 98.63%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on KNX shares. Raymond James boosted their target price on shares of Knight-Swift Transportation from $62.00 to $66.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 23rd. Susquehanna decreased their price objective on shares of Knight-Swift Transportation from $67.00 to $54.00 and set a “positive” rating on the stock in a research note on Wednesday, March 26th. Bank of America raised their price objective on shares of Knight-Swift Transportation from $61.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. StockNews.com raised Knight-Swift Transportation from a “sell” rating to a “hold” rating in a report on Thursday, January 23rd. Finally, TD Cowen raised their price target on Knight-Swift Transportation from $62.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Eight equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $58.59.

About Knight-Swift Transportation

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.