Inspire Investing LLC grew its position in Heartland Express, Inc. (NASDAQ:HTLD – Free Report) by 24.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,948 shares of the transportation company’s stock after buying an additional 10,594 shares during the quarter. Inspire Investing LLC owned 0.07% of Heartland Express worth $466,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also modified their holdings of the company. Exchange Traded Concepts LLC grew its stake in Heartland Express by 1,261.6% during the 1st quarter. Exchange Traded Concepts LLC now owns 12,472 shares of the transportation company’s stock worth $115,000 after purchasing an additional 11,556 shares in the last quarter. Quarry LP grew its stake in Heartland Express by 3,345.5% during the 1st quarter. Quarry LP now owns 12,576 shares of the transportation company’s stock worth $116,000 after purchasing an additional 12,211 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Heartland Express during the 1st quarter worth $117,000. Headlands Technologies LLC grew its stake in Heartland Express by 243.6% during the 1st quarter. Headlands Technologies LLC now owns 12,987 shares of the transportation company’s stock worth $120,000 after purchasing an additional 9,207 shares in the last quarter. Finally, New York State Common Retirement Fund grew its stake in Heartland Express by 44.4% during the 1st quarter. New York State Common Retirement Fund now owns 13,858 shares of the transportation company’s stock worth $128,000 after purchasing an additional 4,263 shares in the last quarter. 53.45% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on HTLD shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Heartland Express in a report on Wednesday, October 8th. JPMorgan Chase & Co. decreased their price target on Heartland Express from $10.00 to $9.00 and set an “underweight” rating for the company in a report on Wednesday, October 8th. Barclays decreased their price target on Heartland Express from $9.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday, August 6th. Baird R W raised Heartland Express to a “hold” rating in a report on Tuesday, July 1st. Finally, Morgan Stanley decreased their price target on Heartland Express from $11.00 to $10.00 and set an “equal weight” rating for the company in a report on Monday, October 6th. Five investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $9.50.
Heartland Express Stock Performance
HTLD opened at $7.95 on Monday. The stock has a market cap of $615.41 million, a P/E ratio of -17.28 and a beta of 1.06. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.95 and a quick ratio of 0.95. The stock’s 50 day simple moving average is $8.38 and its 200 day simple moving average is $8.53. Heartland Express, Inc. has a 1-year low of $7.11 and a 1-year high of $12.85.
Heartland Express (NASDAQ:HTLD – Get Free Report) last posted its earnings results on Thursday, July 24th. The transportation company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.06). Heartland Express had a negative net margin of 3.85% and a negative return on equity of 4.42%. The company had revenue of $210.39 million during the quarter, compared to analysts’ expectations of $229.12 million. During the same period in the previous year, the company posted ($0.04) EPS. Heartland Express’s quarterly revenue was down 23.4% compared to the same quarter last year. As a group, equities analysts anticipate that Heartland Express, Inc. will post 0.17 EPS for the current fiscal year.
Heartland Express Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Tuesday, September 23rd were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Tuesday, September 23rd. Heartland Express’s dividend payout ratio (DPR) is -17.39%.
Insider Buying and Selling
In other news, CEO Michael J. Gerdin purchased 24,798 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The stock was acquired at an average cost of $8.19 per share, for a total transaction of $203,095.62. Following the completion of the purchase, the chief executive officer owned 1,491,868 shares of the company’s stock, valued at approximately $12,218,398.92. This trade represents a 1.69% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought 30,000 shares of company stock valued at $245,752 in the last three months. 40.70% of the stock is currently owned by company insiders.
Heartland Express Company Profile
Heartland Express, Inc, together with its subsidiaries, operates as a short-to-medium, and long-haul truckload carrier in the United States and Canada. It primarily provides nationwide asset-based dry van truckload service for shippers; cross-border freight and other transportation services; and temperature-controlled truckload services.
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