Creative Planning Acquires 5,736 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Creative Planning increased its holdings in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 39.7% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,188 shares of the transportation company’s stock after purchasing an additional 5,736 shares during the quarter. Creative Planning’s holdings in Knight-Swift Transportation were worth $1,008,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Susquehanna Fundamental Investments LLC increased its holdings in Knight-Swift Transportation by 862.3% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 49,106 shares of the transportation company’s stock worth $2,451,000 after purchasing an additional 44,003 shares in the last quarter. Millennium Management LLC grew its stake in shares of Knight-Swift Transportation by 309.7% during the 2nd quarter. Millennium Management LLC now owns 1,068,323 shares of the transportation company’s stock worth $53,331,000 after acquiring an additional 807,572 shares in the last quarter. MBB Public Markets I LLC acquired a new stake in shares of Knight-Swift Transportation in the second quarter valued at approximately $349,000. Dark Forest Capital Management LP bought a new stake in shares of Knight-Swift Transportation in the second quarter worth $206,000. Finally, Encompass Capital Advisors LLC bought a new position in Knight-Swift Transportation in the second quarter valued at $10,483,000. Institutional investors own 88.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on KNX. Citigroup began coverage on Knight-Swift Transportation in a report on Wednesday. They issued a “neutral” rating and a $55.00 price objective for the company. UBS Group dropped their price objective on Knight-Swift Transportation from $59.00 to $58.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Wolfe Research cut shares of Knight-Swift Transportation from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 11th. Susquehanna lifted their price target on Knight-Swift Transportation from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Finally, TD Cowen upped their price target on shares of Knight-Swift Transportation from $47.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $55.81.

Knight-Swift Transportation Trading Down 1.7 %

Shares of Knight-Swift Transportation stock opened at $50.13 on Friday. The firm’s 50 day moving average is $52.26 and its 200 day moving average is $50.50. The firm has a market capitalization of $8.11 billion, a PE ratio of 74.82, a price-to-earnings-growth ratio of 1.38 and a beta of 0.92. 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 current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.24.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings results 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). Knight-Swift Transportation had a return on equity of 1.98% and a net margin of 0.88%. The company had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter last year, the company posted $0.49 earnings per share. The firm’s quarterly revenue was up 18.9% on a year-over-year basis. Equities research analysts forecast that Knight-Swift Transportation Holdings Inc. will post 1.09 earnings per share for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Friday, September 6th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.28%. The ex-dividend date was Friday, September 6th. Knight-Swift Transportation’s dividend payout ratio is currently 95.52%.

Insider Activity at Knight-Swift Transportation

In other Knight-Swift Transportation news, Chairman Kevin P. Knight sold 45,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $51.53, for a total value of $2,318,850.00. Following the completion of the transaction, the chairman now directly owns 1,422,360 shares in the company, valued at approximately $73,294,210.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Chairman Kevin P. Knight sold 45,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $51.53, for a total value of $2,318,850.00. Following the sale, the chairman now owns 1,422,360 shares of the company’s stock, valued at $73,294,210.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert E. Synowicki, Jr. sold 2,500 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $53.32, for a total value of $133,300.00. Following the completion of the sale, the director now owns 21,833 shares of the company’s stock, valued at $1,164,135.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 85,196 shares of company stock worth $4,367,869 in the last quarter. 3.00% of the stock is owned by insiders.

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.