ProShare Advisors LLC Raises Holdings in Old Dominion Freight Line, Inc. $ODFL

ProShare Advisors LLC boosted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 38.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 359,171 shares of the transportation company’s stock after acquiring an additional 99,640 shares during the quarter. ProShare Advisors LLC’s holdings in Old Dominion Freight Line were worth $56,318,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Westside Investment Management Inc. boosted its holdings in Old Dominion Freight Line by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 98 shares during the period. Torren Management LLC bought a new stake in Old Dominion Freight Line in the 4th quarter worth $41,000. Raiffeisen Bank International AG bought a new stake in Old Dominion Freight Line in the 3rd quarter worth $37,000. Kohmann Bosshard Financial Services LLC bought a new stake in Old Dominion Freight Line in the 4th quarter worth $50,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Old Dominion Freight Line in the 3rd quarter worth $55,000. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Argus raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $220.00 price target on the stock in a report on Thursday, February 12th. Benchmark reissued a “hold” rating on shares of Old Dominion Freight Line in a report on Wednesday, March 4th. Stephens reissued an “overweight” rating and issued a $240.00 price target (up from $232.00) on shares of Old Dominion Freight Line in a report on Thursday, April 30th. Stifel Nicolaus raised their price target on shares of Old Dominion Freight Line from $228.00 to $232.00 in a report on Thursday, April 30th. Finally, Jefferies Financial Group increased their price objective on Old Dominion Freight Line from $210.00 to $230.00 and gave the stock a “hold” rating in a report on Wednesday, April 22nd. Eight investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $206.29.

Old Dominion Freight Line Trading Up 0.2%

NASDAQ:ODFL opened at $204.46 on Wednesday. The company has a 50-day moving average price of $200.15 and a 200-day moving average price of $178.04. Old Dominion Freight Line, Inc. has a 12 month low of $126.01 and a 12 month high of $233.79. The stock has a market cap of $42.52 billion, a price-to-earnings ratio of 42.77, a P/E/G ratio of 4.18 and a beta of 1.17.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, April 29th. The transportation company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.05 by $0.09. Old Dominion Freight Line had a net margin of 18.46% and a return on equity of 23.42%. The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period last year, the company posted $1.19 EPS. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. Equities analysts forecast that Old Dominion Freight Line, Inc. will post 5.32 EPS for the current fiscal year.

Insider Transactions at Old Dominion Freight Line

In other news, Director Greg C. Gantt sold 22,107 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $191.52, for a total value of $4,233,932.64. Following the completion of the sale, the director directly owned 88,551 shares of the company’s stock, valued at approximately $16,959,287.52. This trade represents a 19.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman David S. Congdon sold 52,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $194.77, for a total value of $10,128,040.00. Following the completion of the transaction, the chairman owned 712,800 shares of the company’s stock, valued at approximately $138,832,056. The trade was a 6.80% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 99,107 shares of company stock valued at $19,265,223. Company insiders own 10.00% of the company’s stock.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.