Paloma Partners Management Co Buys 52,323 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Paloma Partners Management Co lifted its stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 681.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 60,000 shares of the transportation company's stock after purchasing an additional 52,323 shares during the quarter. Paloma Partners Management Co's holdings in Knight-Swift Transportation were worth $3,237,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the business. Versant Capital Management Inc lifted its stake in shares of Knight-Swift Transportation by 3,461.9% in the 2nd quarter. Versant Capital Management Inc now owns 748 shares of the transportation company's stock valued at $37,000 after purchasing an additional 727 shares during the period. Deseret Mutual Benefit Administrators lifted its holdings in shares of Knight-Swift Transportation by 87.2% in the third quarter. Deseret Mutual Benefit Administrators now owns 747 shares of the transportation company's stock valued at $40,000 after purchasing an additional 348 shares in the last quarter. Brown Brothers Harriman & Co. grew its stake in shares of Knight-Swift Transportation by 28.6% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 900 shares of the transportation company's stock worth $45,000 after acquiring an additional 200 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its position in Knight-Swift Transportation by 50.7% in 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 in the last quarter. Finally, Blue Trust Inc. increased its stake in Knight-Swift Transportation by 168.3% in the 2nd quarter. Blue Trust Inc. now owns 923 shares of the transportation company's stock valued at $51,000 after buying an additional 579 shares during the last quarter. Institutional investors and hedge funds own 88.77% of the company's stock.

Insiders Place Their Bets

In other Knight-Swift Transportation news, Director Ploeg David Vander sold 500 shares of Knight-Swift Transportation stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $57.10, for a total value of $28,550.00. Following the sale, the director now directly 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 legal filing with the SEC, which is accessible through this link. Also, Chairman Kevin P. Knight sold 29,779 shares of the business's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $57.19, for a total value of $1,703,061.01. The disclosure for this sale can be found here. 3.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Citigroup lowered Knight-Swift Transportation from a "neutral" rating to a "sell" rating and set a $56.00 target price for the company. in a report on Tuesday, November 12th. Morgan Stanley reduced their price objective on Knight-Swift Transportation from $72.00 to $70.00 and set an "overweight" rating for the company in a research note on Thursday, October 24th. Raymond James boosted their target price on shares of Knight-Swift Transportation from $57.00 to $58.00 and gave the company a "strong-buy" rating in a research note on Monday, October 14th. The Goldman Sachs Group lowered their price target on shares of Knight-Swift Transportation from $48.00 to $44.00 and set a "neutral" rating on the stock in a report on Wednesday, October 9th. Finally, TD Cowen raised their target price on Knight-Swift Transportation from $55.00 to $56.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Knight-Swift Transportation has an average rating of "Hold" and a consensus price target of $56.38.

Knight-Swift Transportation Stock Down 1.7 %

KNX stock traded down $1.01 during midday trading on Monday, hitting $58.35. The company's stock had a trading volume of 826,412 shares, compared to its average volume of 2,053,350. The company has a market cap of $9.45 billion, a PE ratio of 258.10, a P/E/G ratio of 2.03 and a beta of 0.93. The firm's 50-day moving average is $54.25 and its 200-day moving average is $51.71. Knight-Swift Transportation Holdings Inc. has a 12 month low of $45.55 and a 12 month 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.

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

Knight-Swift Transportation Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Friday, December 6th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.10%. The ex-dividend date is Friday, December 6th. Knight-Swift Transportation's dividend payout ratio is 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.