Versant Capital Management Inc Boosts Position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Versant Capital Management Inc increased its stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 3,461.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 748 shares of the transportation company’s stock after acquiring an additional 727 shares during the quarter. Versant Capital Management Inc’s holdings in Knight-Swift Transportation were worth $37,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Rise Advisors LLC bought a new position in Knight-Swift Transportation during the 1st quarter worth about $25,000. GAMMA Investing LLC grew its holdings in Knight-Swift Transportation by 67.5% during the 1st quarter. GAMMA Investing LLC now owns 628 shares of the transportation company’s stock worth $35,000 after acquiring an additional 253 shares in the last quarter. Blue Trust Inc. grew its holdings in Knight-Swift Transportation by 80.3% during the 4th quarter. Blue Trust Inc. now owns 732 shares of the transportation company’s stock worth $42,000 after acquiring an additional 326 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in Knight-Swift Transportation by 61.7% during the 4th quarter. First Horizon Advisors Inc. now owns 742 shares of the transportation company’s stock worth $43,000 after acquiring an additional 283 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its holdings in Knight-Swift Transportation by 50.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,020 shares of the transportation company’s stock worth $51,000 after acquiring an additional 343 shares in the last quarter. Hedge funds and other institutional investors own 88.77% of the company’s stock.

Insiders Place Their Bets

In other Knight-Swift Transportation news, EVP Michael K. Liu sold 5,696 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $53.49, for a total transaction of $304,679.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Chairman Kevin P. Knight sold 45,000 shares of Knight-Swift Transportation stock in a transaction on Monday, August 5th. The shares were sold at an average price of $51.53, for a total value of $2,318,850.00. Following the sale, the chairman now owns 1,422,360 shares of the company’s stock, valued at approximately $73,294,210.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael K. Liu sold 5,696 shares of Knight-Swift Transportation stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $53.49, for a total transaction of $304,679.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 80,696 shares of company stock valued at $4,133,429. 3.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

KNX has been the topic of a number of recent analyst reports. Barclays lowered their price target on shares of Knight-Swift Transportation from $62.00 to $57.00 and set an “overweight” rating on the stock in a report on Thursday, April 18th. TD Cowen raised their price target on shares of Knight-Swift Transportation from $47.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Stephens lowered their price target on shares of Knight-Swift Transportation from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Thursday, April 18th. Robert W. Baird lowered their price target on shares of Knight-Swift Transportation from $64.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Finally, JPMorgan Chase & Co. raised their price target on shares of Knight-Swift Transportation from $51.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Knight-Swift Transportation presently has an average rating of “Moderate Buy” and a consensus target price of $56.79.

Knight-Swift Transportation Stock Performance

KNX stock traded up $0.25 during trading on Wednesday, reaching $52.78. The company had a trading volume of 420,079 shares, compared to its average volume of 2,148,330. Knight-Swift Transportation Holdings Inc. has a twelve month low of $45.55 and a twelve month high of $60.99. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.93 and a current ratio of 0.88. The company has a market cap of $8.53 billion, a price-to-earnings ratio of 78.39, a price-to-earnings-growth ratio of 1.36 and a beta of 0.93. The firm has a 50-day simple moving average of $49.46 and a 200-day simple moving average of $51.95.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings results on Wednesday, July 24th. The transportation company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). Knight-Swift Transportation had a return on equity of 1.98% and a net margin of 0.88%. The business had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same period in the prior year, the business posted $0.49 earnings per share. The business’s quarterly revenue was up 18.9% compared to the same quarter last year. As a group, sell-side analysts expect that Knight-Swift Transportation Holdings Inc. will post 1.13 earnings per share for the current year.

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.