Assetmark Inc. Lowers Stock Holdings in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Assetmark Inc. reduced its position in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 88.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 126,849 shares of the transportation company’s stock after selling 998,243 shares during the period. Assetmark Inc. owned about 0.08% of Knight-Swift Transportation worth $7,313,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Massmutual Trust Co. FSB ADV boosted its position in shares of Knight-Swift Transportation by 136.5% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 667 shares of the transportation company’s stock worth $38,000 after buying an additional 385 shares during the period. Blue Trust Inc. boosted its holdings in Knight-Swift Transportation by 80.3% in the fourth quarter. Blue Trust Inc. now owns 732 shares of the transportation company’s stock valued at $42,000 after purchasing an additional 326 shares during the period. First Horizon Advisors Inc. boosted its holdings in Knight-Swift Transportation by 61.7% in the fourth quarter. First Horizon Advisors Inc. now owns 742 shares of the transportation company’s stock valued at $43,000 after purchasing an additional 283 shares during the period. Planned Solutions Inc. purchased a new position in Knight-Swift Transportation in the fourth quarter valued at $92,000. Finally, Avior Wealth Management LLC purchased a new position in Knight-Swift Transportation in the fourth quarter valued at $150,000. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Raymond James assumed coverage on Knight-Swift Transportation in a report on Wednesday, May 15th. They issued a “strong-buy” rating and a $58.00 target price for the company. Evercore ISI decreased their target price on Knight-Swift Transportation from $60.00 to $55.00 and set an “in-line” rating for the company in a report on Thursday, April 25th. Robert W. Baird decreased their target price on Knight-Swift Transportation from $64.00 to $60.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Stifel Nicolaus lowered Knight-Swift Transportation from a “buy” rating to a “hold” rating and decreased their target price for the company from $53.00 to $47.00 in a report on Friday, April 26th. Finally, TD Cowen decreased their price target on Knight-Swift Transportation from $58.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, April 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $57.38.

Insider Transactions at Knight-Swift Transportation

In other news, CAO Cary M. Flanagan sold 2,000 shares of Knight-Swift Transportation stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $56.24, for a total transaction of $112,480.00. Following the sale, the chief accounting officer now owns 5,118 shares in the company, valued at $287,836.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.00% of the company’s stock.

Knight-Swift Transportation Stock Up 1.4 %

KNX opened at $47.10 on Thursday. The business’s 50-day simple moving average is $50.51 and its 200-day simple moving average is $54.08. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.93 and a current ratio of 0.93. Knight-Swift Transportation Holdings Inc. has a one year low of $45.55 and a one year high of $60.99. The stock has a market capitalization of $7.61 billion, a P/E ratio of 70.30, a price-to-earnings-growth ratio of 1.17 and a beta of 1.03.

Knight-Swift Transportation (NYSE:KNX) last posted its earnings results on Wednesday, April 24th. The transportation company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.07). Knight-Swift Transportation had a return on equity of 2.54% and a net margin of 1.50%. The firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same quarter last year, the firm posted $0.73 EPS. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. Analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 1.26 EPS for the current year.

Knight-Swift Transportation Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Monday, June 10th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend is Monday, June 10th. Knight-Swift Transportation’s dividend payout ratio (DPR) is currently 95.52%.

Knight-Swift Transportation 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.