Fortitude Family Office LLC Buys Shares of 496,296 Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Fortitude Family Office LLC purchased a new position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 496,296 shares of the transportation company's stock, valued at approximately $26,775,000. Knight-Swift Transportation comprises 10.6% of Fortitude Family Office LLC's holdings, making the stock its 2nd largest holding. Fortitude Family Office LLC owned 0.31% of Knight-Swift Transportation as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in KNX. Duality Advisers LP lifted its position in Knight-Swift Transportation by 1,686.4% in the 1st quarter. Duality Advisers LP now owns 66,098 shares of the transportation company's stock valued at $3,637,000 after acquiring an additional 62,398 shares in the last quarter. Virtu Financial LLC bought a new position in Knight-Swift Transportation in the 1st quarter valued at approximately $1,935,000. Wedge Capital Management L L P NC lifted its position in Knight-Swift Transportation by 9.0% in the 2nd quarter. Wedge Capital Management L L P NC now owns 263,033 shares of the transportation company's stock valued at $13,131,000 after acquiring an additional 21,689 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Knight-Swift Transportation by 21.0% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 89,821 shares of the transportation company's stock valued at $4,942,000 after acquiring an additional 15,600 shares during the period. Finally, Swedbank AB purchased a new stake in shares of Knight-Swift Transportation during the 1st quarter valued at about $3,162,000. Hedge funds and other institutional investors own 88.77% of the company's stock.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

KNX has been the topic of several research reports. Morgan Stanley dropped their target price on shares of Knight-Swift Transportation from $72.00 to $70.00 and set an "overweight" rating on the stock in a report on Thursday, October 24th. UBS Group dropped their price target on shares of 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. Evercore ISI boosted their price target on Knight-Swift Transportation from $49.00 to $52.00 and gave the company an "in-line" rating in a report on Thursday, October 24th. StockNews.com upgraded Knight-Swift Transportation to a "sell" rating in a research report on Thursday, July 25th. Finally, Susquehanna increased their target price on shares of Knight-Swift Transportation from $45.00 to $48.00 and gave the stock a "neutral" rating in a report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $55.94.

Knight-Swift Transportation Price Performance

Shares of NYSE KNX traded down $0.15 during midday trading on Tuesday, reaching $53.65. 1,375,057 shares of the stock traded hands, compared to its average volume of 2,064,869. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.01 and a quick ratio of 0.88. The stock has a market capitalization of $8.68 billion, a PE ratio of 233.92, a P/E/G ratio of 1.90 and a beta of 0.92. Knight-Swift Transportation Holdings Inc. has a one year low of $45.55 and a one year high of $60.99. The company's 50 day moving average is $52.22 and its 200 day moving average is $50.36.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The transportation company reported $0.34 EPS for the quarter, beating analysts' consensus estimates of $0.32 by $0.02. The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.91 billion. Knight-Swift Transportation had a return on equity of 1.81% and a net margin of 0.50%. The company's quarterly revenue was down 7.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.41 EPS. On average, equities research analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 1.06 earnings per share for the current year.

Knight-Swift Transportation Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, September 6th were given a $0.16 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.64 dividend on an annualized basis and a yield of 1.19%. Knight-Swift Transportation's dividend payout ratio is presently 278.27%.

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.