Black Diamond Financial LLC Buys Shares of 5,150 Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Black Diamond Financial LLC purchased a new position in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,150 shares of the transportation company’s stock, valued at approximately $257,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rise Advisors LLC acquired a new stake in Knight-Swift Transportation during the 1st quarter worth approximately $25,000. GAMMA Investing LLC lifted its holdings in shares of Knight-Swift Transportation by 67.5% during the first quarter. GAMMA Investing LLC now owns 628 shares of the transportation company’s stock worth $35,000 after purchasing an additional 253 shares during the period. Versant Capital Management Inc grew its stake in shares of 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 worth $37,000 after purchasing an additional 727 shares during the last quarter. Brown Brothers Harriman & Co. increased its holdings in Knight-Swift Transportation by 28.6% in the second quarter. Brown Brothers Harriman & Co. now owns 900 shares of the transportation company’s stock valued at $45,000 after purchasing an additional 200 shares during the period. Finally, Massmutual Trust Co. FSB ADV raised its position in Knight-Swift Transportation by 50.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,020 shares of the transportation company’s stock worth $51,000 after purchasing an additional 343 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Knight-Swift Transportation news, Director Michael Garnreiter sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $50.57, for a total transaction of $101,140.00. Following the completion of the sale, the director now directly owns 17,648 shares of the company’s stock, valued at approximately $892,459.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Knight-Swift Transportation news, Director Michael Garnreiter sold 2,000 shares of Knight-Swift Transportation stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $50.57, for a total transaction of $101,140.00. Following the transaction, the director now directly owns 17,648 shares of the company’s stock, valued at approximately $892,459.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Kevin P. Knight sold 45,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $51.53, for a total transaction of $2,318,850.00. Following the completion of the sale, the chairman now owns 1,422,360 shares of the company’s stock, valued at approximately $73,294,210.80. The disclosure for this sale can be found here. Insiders have sold 85,196 shares of company stock worth $4,367,869 in the last quarter. Insiders own 3.00% of the company’s stock.

Knight-Swift Transportation Stock Up 1.6 %

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

Knight-Swift Transportation (NYSE:KNX) last issued its earnings results on Wednesday, July 24th. The transportation company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). Knight-Swift Transportation had a return on equity of 1.98% and a net margin of 0.88%. The firm had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same period in the previous year, the company earned $0.49 earnings per share. Knight-Swift Transportation’s revenue for the quarter was up 18.9% compared to the same quarter last year. On average, research analysts expect that Knight-Swift Transportation Holdings Inc. will post 1.1 earnings per share for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The firm 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 dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Friday, September 6th. Knight-Swift Transportation’s payout ratio is presently 95.52%.

Analysts Set New Price Targets

KNX has been the topic of a number of analyst reports. Wells Fargo & Company initiated coverage on Knight-Swift Transportation in a research report on Friday, June 7th. They issued an “overweight” rating and a $56.00 price target on the stock. UBS Group decreased their target price on shares of Knight-Swift Transportation from $59.00 to $58.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Bank of America boosted their price target on shares of Knight-Swift Transportation from $54.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Evercore ISI decreased their price objective on shares of Knight-Swift Transportation from $55.00 to $53.00 and set an “in-line” rating for the company in a research report on Tuesday, June 25th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Knight-Swift Transportation from $51.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $57.14.

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.