Atom Investors LP Sells 21,059 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Atom Investors LP cut its stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 32.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 43,941 shares of the transportation company’s stock after selling 21,059 shares during the period. Atom Investors LP’s holdings in Knight-Swift Transportation were worth $2,371,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Paloma Partners Management Co lifted its stake in Knight-Swift Transportation by 681.6% in the 3rd quarter. Paloma Partners Management Co now owns 60,000 shares of the transportation company’s stock worth $3,237,000 after purchasing an additional 52,323 shares in the last quarter. Edgestream Partners L.P. purchased a new position in shares of Knight-Swift Transportation during the 3rd quarter valued at $879,000. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Knight-Swift Transportation by 34.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,412,869 shares of the transportation company’s stock worth $76,224,000 after purchasing an additional 359,566 shares during the period. Verition Fund Management LLC raised its position in shares of Knight-Swift Transportation by 77.2% in the third quarter. Verition Fund Management LLC now owns 109,665 shares of the transportation company’s stock worth $5,916,000 after buying an additional 47,785 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its position in shares of Knight-Swift Transportation by 61.6% in the third quarter. Rockefeller Capital Management L.P. now owns 20,109 shares of the transportation company’s stock worth $1,085,000 after buying an additional 7,666 shares in the last quarter. 88.77% of the stock is currently owned by institutional investors.

Knight-Swift Transportation Stock Performance

Shares of NYSE:KNX opened at $58.45 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average price of $54.37 and a 200-day moving average price of $51.77. The company has a market cap of $9.46 billion, a price-to-earnings ratio of 254.14, a price-to-earnings-growth ratio of 2.03 and a beta of 0.96. Knight-Swift Transportation Holdings Inc. has a 12 month low of $45.55 and a 12 month high of $60.99.

Knight-Swift Transportation (NYSE:KNX) last released its quarterly 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. Knight-Swift Transportation had a return on equity of 1.81% and a net margin of 0.50%. The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the prior year, the company posted $0.41 EPS. Knight-Swift Transportation’s quarterly revenue was down 7.1% compared to the same quarter last year. As a group, equities analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 1.05 EPS for the current year.

Knight-Swift Transportation Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Friday, December 6th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Friday, December 6th. Knight-Swift Transportation’s payout ratio is 278.27%.

Analyst Upgrades and Downgrades

KNX has been the subject of a number of research analyst reports. TD Cowen lifted their price target on Knight-Swift Transportation from $55.00 to $56.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Citigroup downgraded shares of Knight-Swift Transportation from a “neutral” rating to a “sell” rating and set a $56.00 price objective for the company. in a report on Tuesday, November 12th. Raymond James upped their price objective on Knight-Swift Transportation from $57.00 to $58.00 and gave the stock a “strong-buy” rating in a report on Monday, October 14th. The Goldman Sachs Group cut their target price on Knight-Swift Transportation from $48.00 to $44.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Finally, Barclays lifted their price target on shares of Knight-Swift Transportation from $62.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $56.38.

Insider Activity at Knight-Swift Transportation

In other Knight-Swift Transportation news, Director Ploeg David Vander sold 500 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $57.10, for a total value of $28,550.00. Following the completion of the sale, the director now directly owns 30,729 shares in the company, valued at $1,754,625.90. This trade represents a 1.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Kevin P. Knight sold 29,779 shares of Knight-Swift Transportation stock in a transaction that occurred on Wednesday, November 13th. The shares were 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 currently owned by company insiders.

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.