Heartland Express, Inc. (NASDAQ:HTLD) major shareholder Michael J. Gerdin sold 3,260,870 shares of the stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $20.02, for a total value of $65,282,617.40. Following the sale, the insider now directly owns 681,124 shares of the company’s stock, valued at $13,636,102.48. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Shares of NASDAQ HTLD opened at $20.28 on Thursday. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of 25.04 and a beta of 0.56. Heartland Express, Inc. has a 52 week low of $15.65 and a 52 week high of $22.75. The firm has a 50-day moving average price of $20.66 and a 200 day moving average price of $19.72.
Heartland Express (NASDAQ:HTLD) last issued its earnings results on Thursday, July 16th. The transportation company reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.10. The company had revenue of $160.90 million during the quarter, compared to analysts’ expectations of $152.39 million. Heartland Express had a net margin of 10.23% and a return on equity of 9.57%. The firm’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same period last year, the company posted $0.27 earnings per share. Research analysts forecast that Heartland Express, Inc. will post 0.79 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently bought and sold shares of the business. Capital Advisory Group Advisory Services LLC acquired a new stake in Heartland Express in the first quarter valued at $25,000. Advisor Group Holdings Inc. purchased a new stake in shares of Heartland Express in the 1st quarter worth about $30,000. Capital Square LLC acquired a new stake in Heartland Express in the 1st quarter valued at about $32,000. Parallel Advisors LLC increased its holdings in Heartland Express by 152.4% during the 1st quarter. Parallel Advisors LLC now owns 3,314 shares of the transportation company’s stock valued at $61,000 after acquiring an additional 2,001 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Heartland Express by 42.0% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,456 shares of the transportation company’s stock worth $64,000 after acquiring an additional 1,022 shares during the last quarter. Institutional investors own 53.35% of the company’s stock.
Several research firms have recently commented on HTLD. Wolfe Research upgraded Heartland Express from an “underperform” rating to a “peer perform” rating in a research note on Friday, July 17th. Morgan Stanley boosted their price objective on shares of Heartland Express from $16.00 to $17.00 and gave the company an “underweight” rating in a research note on Tuesday, July 21st. KeyCorp raised their target price on shares of Heartland Express from $24.00 to $26.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. BidaskClub lowered shares of Heartland Express from a “hold” rating to a “sell” rating in a research note on Thursday, June 11th. Finally, Barclays raised their price objective on shares of Heartland Express from $17.00 to $19.00 and gave the company an “underweight” rating in a research report on Wednesday, July 15th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Heartland Express presently has a consensus rating of “Hold” and a consensus target price of $22.14.
About Heartland Express
Heartland Express, Inc, together with its subsidiaries, operates as a short-to-medium haul truckload carrier in the United States and Canada. The company primarily provides nationwide asset-based dry van truckload service for shippers from Washington to Florida and New England to California; and temperature-controlled truckload services.
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