Assenagon Asset Management S.A. Trims Stock Position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Assenagon Asset Management S.A. decreased its holdings in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 74.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,107 shares of the transportation company’s stock after selling 14,791 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Knight-Swift Transportation were worth $255,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of KNX. Rise Advisors LLC acquired a new position in Knight-Swift Transportation during the first quarter worth approximately $25,000. GAMMA Investing LLC increased its holdings in shares of Knight-Swift Transportation by 67.5% during the 1st quarter. GAMMA Investing LLC now owns 628 shares of the transportation company’s stock worth $35,000 after buying an additional 253 shares during the last quarter. First Horizon Advisors Inc. raised its position in shares of Knight-Swift Transportation by 61.7% in the 4th quarter. First Horizon Advisors Inc. now owns 742 shares of the transportation company’s stock worth $43,000 after buying an additional 283 shares during the period. Versant Capital Management Inc boosted its holdings in Knight-Swift Transportation by 3,461.9% in the second quarter. Versant Capital Management Inc now owns 748 shares of the transportation company’s stock valued at $37,000 after acquiring an additional 727 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its position in Knight-Swift Transportation by 50.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,020 shares of the transportation company’s stock valued at $51,000 after acquiring an additional 343 shares during the period. Institutional investors and hedge funds own 88.77% of the company’s stock.

Knight-Swift Transportation Stock Up 1.2 %

Shares of NYSE KNX opened at $54.17 on Friday. The firm has a market cap of $8.75 billion, a price-to-earnings ratio of 80.85, a PEG ratio of 1.45 and a beta of 0.93. Knight-Swift Transportation Holdings Inc. has a 1 year low of $45.55 and a 1 year high of $60.99. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.88 and a current ratio of 0.88. The stock’s 50-day simple moving average is $50.72 and its 200-day simple moving average is $51.52.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings data on Wednesday, July 24th. The transportation company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.03). The business had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Knight-Swift Transportation had a return on equity of 1.98% and a net margin of 0.88%. Knight-Swift Transportation’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.49 earnings per share. As a group, equities analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 1.12 earnings per share for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Friday, September 6th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.18%. 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 30,000 shares of the business’s 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 completion of the sale, the chairman now directly owns 1,467,360 shares of the company’s stock, valued at $73,852,228.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Knight-Swift Transportation news, Chairman Kevin P. Knight sold 30,000 shares of Knight-Swift Transportation stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $50.33, for a total value of $1,509,900.00. Following the completion of the transaction, the chairman now owns 1,467,360 shares of the company’s stock, valued at $73,852,228.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert E. Synowicki, Jr. sold 2,500 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $53.32, for a total transaction of $133,300.00. Following the sale, the director now owns 21,833 shares of the company’s stock, valued at approximately $1,164,135.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 85,196 shares of company stock worth $4,367,869. 3.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

KNX has been the topic of a number of research reports. UBS Group cut their price objective on Knight-Swift Transportation from $59.00 to $58.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Raymond James reduced their price target on shares of Knight-Swift Transportation from $58.00 to $57.00 and set a “strong-buy” rating on the stock in a research report on Thursday, July 25th. TD Cowen increased their price objective on shares of Knight-Swift Transportation from $47.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Wolfe Research lowered shares of Knight-Swift Transportation from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 11th. Finally, JPMorgan Chase & Co. increased their price target on Knight-Swift Transportation from $51.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given 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 an average price target of $57.14.

Knight-Swift Transportation Company 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.