Spectrum Management Group LLC Has $1.05 Million Position in Old Dominion Freight Line (NASDAQ:ODFL)

Spectrum Management Group LLC increased its stake in shares of Old Dominion Freight Line (NASDAQ:ODFL) by 512.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,028 shares of the transportation company’s stock after purchasing an additional 6,718 shares during the quarter. Spectrum Management Group LLC’s holdings in Old Dominion Freight Line were worth $1,054,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Ballast Advisors LLC bought a new position in Old Dominion Freight Line during the first quarter valued at approximately $30,000. Cordasco Financial Network raised its position in Old Dominion Freight Line by 49.7% during the first quarter. Cordasco Financial Network now owns 268 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 89 shares in the last quarter. Guardian Life Insurance Co. of America bought a new position in Old Dominion Freight Line during the fourth quarter valued at approximately $36,000. Cohen & Steers Inc. raised its position in Old Dominion Freight Line by 277.4% during the fourth quarter. Cohen & Steers Inc. now owns 200 shares of the transportation company’s stock valued at $38,000 after acquiring an additional 147 shares in the last quarter. Finally, Truewealth LLC raised its position in Old Dominion Freight Line by 49.7% during the first quarter. Truewealth LLC now owns 286 shares of the transportation company’s stock valued at $38,000 after acquiring an additional 95 shares in the last quarter. Institutional investors and hedge funds own 57.39% of the company’s stock.

Shares of ODFL stock opened at $155.91 on Friday. Old Dominion Freight Line has a 1 year low of $87.25 and a 1 year high of $158.47. The firm’s fifty day simple moving average is $140.93 and its 200 day simple moving average is $180.19. The firm has a market capitalization of $18.34 billion, a P/E ratio of 30.47, a price-to-earnings-growth ratio of 3.59 and a beta of 1.02.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Thursday, April 23rd. The transportation company reported $1.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.12 by ($0.01). Old Dominion Freight Line had a return on equity of 20.85% and a net margin of 14.99%. The company had revenue of $987.36 million for the quarter, compared to the consensus estimate of $982.15 million. During the same period last year, the firm posted $1.64 EPS. The company’s revenue was down .3% compared to the same quarter last year. As a group, equities analysts anticipate that Old Dominion Freight Line will post 4.57 EPS for the current fiscal year.

Several equities analysts recently weighed in on the stock. BidaskClub raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating in a research report on Thursday, May 14th. Cowen dropped their price target on shares of Old Dominion Freight Line from $205.00 to $138.00 and set a “market perform” rating on the stock in a research report on Friday, April 24th. Bank of America lowered shares of Old Dominion Freight Line from a “neutral” rating to an “underperform” rating in a research report on Sunday, April 19th. Morgan Stanley lifted their price target on shares of Old Dominion Freight Line from $145.00 to $154.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Finally, KeyCorp reissued a “buy” rating and issued a $165.00 price target (up previously from $155.00) on shares of Old Dominion Freight Line in a research report on Friday. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $131.00.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.

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Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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