Cartenna Capital LP Increases Holdings in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Cartenna Capital LP boosted its stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 96.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 787,071 shares of the transportation company's stock after purchasing an additional 387,071 shares during the period. Knight-Swift Transportation makes up about 2.0% of Cartenna Capital LP's portfolio, making the stock its 17th biggest position. Cartenna Capital LP owned approximately 0.49% of Knight-Swift Transportation worth $41,746,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of KNX. Parkside Financial Bank & Trust lifted its stake in shares of Knight-Swift Transportation by 88.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 685 shares of the transportation company's stock worth $36,000 after buying an additional 322 shares during the period. UMB Bank n.a. grew its stake in Knight-Swift Transportation by 84.3% during the 4th quarter. UMB Bank n.a. now owns 809 shares of the transportation company's stock valued at $43,000 after purchasing an additional 370 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Knight-Swift Transportation by 20.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,254 shares of the transportation company's stock valued at $67,000 after purchasing an additional 213 shares during the period. GAMMA Investing LLC raised its stake in shares of Knight-Swift Transportation by 18.5% in the fourth quarter. GAMMA Investing LLC now owns 1,335 shares of the transportation company's stock worth $71,000 after purchasing an additional 208 shares during the last quarter. Finally, Arcadia Investment Management Corp MI lifted its holdings in shares of Knight-Swift Transportation by 167.2% during the fourth quarter. Arcadia Investment Management Corp MI now owns 1,336 shares of the transportation company's stock worth $71,000 after purchasing an additional 836 shares during the period. Institutional investors and hedge funds own 88.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on KNX. Raymond James reduced their price target on shares of Knight-Swift Transportation from $66.00 to $55.00 and set a "strong-buy" rating for the company in a research report on Friday, April 11th. TD Cowen lowered their price target on shares of Knight-Swift Transportation from $55.00 to $49.00 and set a "buy" rating on the stock in a report on Thursday. TD Securities cut their price target on Knight-Swift Transportation from $55.00 to $49.00 and set a "buy" rating on the stock in a research report on Thursday. Citigroup upgraded Knight-Swift Transportation from a "neutral" rating to a "buy" rating and lowered their target price for the stock from $53.00 to $48.00 in a research note on Tuesday, April 8th. Finally, UBS Group reduced their price target on Knight-Swift Transportation from $63.00 to $46.00 and set a "buy" rating for the company in a research report on Tuesday. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $50.60.

Knight-Swift Transportation Price Performance

KNX traded down $1.43 during midday trading on Friday, hitting $38.93. 2,863,297 shares of the company traded hands, compared to its average volume of 2,275,929. The business has a 50 day simple moving average of $44.40 and a two-hundred day simple moving average of $51.31. Knight-Swift Transportation Holdings Inc. has a 52-week low of $36.69 and a 52-week high of $61.51. The company has a market capitalization of $6.31 billion, a price-to-earnings ratio of 53.33 and a beta of 1.16. The company has a current ratio of 0.85, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates of $0.25 by $0.03. Knight-Swift Transportation had a net margin of 1.59% and a return on equity of 2.43%. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.83 billion. On average, equities analysts forecast that Knight-Swift Transportation Holdings Inc. will post 2.13 earnings per share for the current fiscal year.

Knight-Swift Transportation Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Friday, March 7th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.85%. This is a boost from Knight-Swift Transportation's previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Friday, March 7th. Knight-Swift Transportation's payout ratio is presently 76.60%.

Insider Activity at Knight-Swift Transportation

In other Knight-Swift Transportation news, Director Douglas L. Col bought 5,000 shares of Knight-Swift Transportation stock in a transaction dated Thursday, March 13th. The stock was acquired at an average cost of $45.37 per share, for a total transaction of $226,850.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company's stock, valued at approximately $226,850. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.00% of the stock is owned by corporate 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.