Fortitude Family Office LLC Reduces Stock Holdings in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Fortitude Family Office LLC cut its stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 50.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 247,224 shares of the transportation company's stock after selling 249,072 shares during the period. Knight-Swift Transportation accounts for approximately 4.7% of Fortitude Family Office LLC's portfolio, making the stock its 4th largest holding. Fortitude Family Office LLC owned approximately 0.15% of Knight-Swift Transportation worth $13,113,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Knight-Swift Transportation during the third quarter valued at about $3,729,000. Charles Schwab Investment Management Inc. increased its position in shares of Knight-Swift Transportation by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,146,948 shares of the transportation company's stock valued at $61,878,000 after buying an additional 26,346 shares during the period. Jane Street Group LLC increased its position in shares of Knight-Swift Transportation by 30.9% in the third quarter. Jane Street Group LLC now owns 69,907 shares of the transportation company's stock worth $3,771,000 after purchasing an additional 16,500 shares during the last quarter. Paloma Partners Management Co increased its position in shares of Knight-Swift Transportation by 681.6% in the third quarter. Paloma Partners Management Co now owns 60,000 shares of the transportation company's stock worth $3,237,000 after purchasing an additional 52,323 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Knight-Swift Transportation by 116.1% in the third quarter. BNP Paribas Financial Markets now owns 130,794 shares of the transportation company's stock worth $7,056,000 after purchasing an additional 70,276 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Ploeg David Vander sold 500 shares of the business's stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $57.10, for a total transaction of $28,550.00. Following the sale, the director now owns 30,729 shares in the company, valued at approximately $1,754,625.90. The trade was a 1.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Kevin P. Knight sold 29,779 shares of the business's stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $57.19, for a total transaction of $1,703,061.01. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Susquehanna upgraded shares of Knight-Swift Transportation from a "neutral" rating to a "positive" rating and upped their price objective for the stock from $48.00 to $67.00 in a research report on Friday, January 3rd. Barclays upped their price objective on shares of Knight-Swift Transportation from $62.00 to $68.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 13th. Evercore ISI upped their price objective on shares of Knight-Swift Transportation from $49.00 to $52.00 and gave the stock an "in-line" rating in a research report on Thursday, October 24th. Stifel Nicolaus upped their price objective on shares of Knight-Swift Transportation from $47.00 to $48.00 and gave the stock a "hold" rating in a research report on Friday, October 25th. Finally, The Goldman Sachs Group increased their price target on shares of Knight-Swift Transportation from $45.00 to $51.00 and gave the company a "neutral" rating in a research report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Knight-Swift Transportation has a consensus rating of "Moderate Buy" and a consensus target price of $58.44.

Knight-Swift Transportation Trading Down 2.7 %

Shares of NYSE:KNX traded down $1.45 during trading on Friday, reaching $52.38. 1,552,092 shares of the company traded hands, compared to its average volume of 1,702,082. The firm has a market capitalization of $8.48 billion, a price-to-earnings ratio of 227.75, a P/E/G ratio of 1.89 and a beta of 0.98. Knight-Swift Transportation Holdings Inc. has a 52-week low of $45.55 and a 52-week high of $60.99. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.31. The business's fifty day moving average is $55.50 and its 200-day moving average is $53.01.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.32 by $0.02. Knight-Swift Transportation had a return on equity of 1.81% and a net margin of 0.50%. The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the prior year, the firm posted $0.41 earnings per share. The business's quarterly revenue was down 7.1% compared to the same quarter last year. As a group, analysts forecast that Knight-Swift Transportation Holdings Inc. will post 1.05 EPS for the current year.

Knight-Swift Transportation Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Friday, December 6th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend was Friday, December 6th. Knight-Swift Transportation's payout ratio is 278.26%.

Knight-Swift Transportation Company Profile

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.