Redmond Asset Management LLC Sells 18,876 Shares of Knight-Swift Transportation Holdings Inc. $KNX

Redmond Asset Management LLC cut its holdings in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 49.2% during the 3rd quarter, Holdings Channel reports. The firm owned 19,527 shares of the transportation company’s stock after selling 18,876 shares during the period. Redmond Asset Management LLC’s holdings in Knight-Swift Transportation were worth $1,242,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. North Dakota State Investment Board lifted its holdings in Knight-Swift Transportation by 3.4% in the 3rd quarter. North Dakota State Investment Board now owns 4,842 shares of the transportation company’s stock worth $308,000 after buying an additional 160 shares during the period. VestGen Advisors LLC increased its stake in shares of Knight-Swift Transportation by 6.1% during the third quarter. VestGen Advisors LLC now owns 4,764 shares of the transportation company’s stock valued at $303,000 after buying an additional 274 shares during the period. Apollon Wealth Management LLC increased its stake in shares of Knight-Swift Transportation by 18.5% during the third quarter. Apollon Wealth Management LLC now owns 3,147 shares of the transportation company’s stock valued at $200,000 after buying an additional 491 shares during the period. Norris Perne & French LLP MI raised its holdings in shares of Knight-Swift Transportation by 248.3% during the third quarter. Norris Perne & French LLP MI now owns 473,393 shares of the transportation company’s stock valued at $30,103,000 after acquiring an additional 337,461 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in shares of Knight-Swift Transportation by 10.7% during the third quarter. Signaturefd LLC now owns 4,018 shares of the transportation company’s stock valued at $256,000 after acquiring an additional 388 shares in the last quarter. Hedge funds and other institutional investors own 88.77% of the company’s stock.

Wall Street Analysts Forecast Growth

KNX has been the subject of a number of research analyst reports. Morgan Stanley set a $90.00 price target on Knight-Swift Transportation in a research note on Wednesday, September 2nd. Susquehanna boosted their price objective on shares of Knight-Swift Transportation from $85.00 to $93.00 and gave the company a “positive” rating in a research report on Monday. Sanford C. Bernstein began coverage on shares of Knight-Swift Transportation in a report on Thursday, September 10th. They issued an “outperform” rating and a $91.00 price objective for the company. Raymond James Financial restated a “strong-buy” rating and issued a $84.00 price objective on shares of Knight-Swift Transportation in a report on Thursday, October 22nd. Finally, Stifel Nicolaus raised their target price on shares of Knight-Swift Transportation from $90.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, October 22nd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Knight-Swift Transportation presently has an average rating of “Moderate Buy” and a consensus price target of $83.22.

Knight-Swift Transportation Stock Performance

Knight-Swift Transportation stock opened at $60.77 on Thursday. Knight-Swift Transportation Holdings Inc. has a fifty-two week low of $41.24 and a fifty-two week high of $82.86. The stock’s 50 day simple moving average is $66.14 and its two-hundred day simple moving average is $65.90. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.88 and a current ratio of 0.91. The stock has a market cap of $9.89 billion, a price-to-earnings ratio of 65.35, a PEG ratio of 0.48 and a beta of 1.21.

Knight-Swift Transportation (NYSE:KNX) last announced its earnings results on Wednesday, October 21st. The transportation company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.07. Knight-Swift Transportation had a return on equity of 4.71% and a net margin of 1.92%. The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the prior year, the company earned $0.32 EPS. The business’s revenue was up 14.2% compared to the same quarter last year. As a group, analysts expect that Knight-Swift Transportation Holdings Inc. will post 2.45 earnings per share for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 21st. Investors of record on Friday, September 4th were given a dividend of $0.20 per share. The ex-dividend date was Friday, September 4th. This represents a $0.80 annualized dividend and a dividend yield of 1.3%. Knight-Swift Transportation’s payout ratio is currently 86.02%.

Insider Buying and Selling

In other Knight-Swift Transportation news, CAO Cary Flanagan sold 3,600 shares of the stock in a transaction on Friday, July 31st. The stock was sold at an average price of $70.82, for a total value of $254,952.00. Following the completion of the transaction, the chief accounting officer owned 5,405 shares in the company, valued at approximately $382,782.10. This represents a 39.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Reid Dove sold 126,864 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $73.13, for a total value of $9,277,564.32. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 224,954 shares of company stock valued at $16,183,454 over the last ninety days. Company insiders own 2.90% of the company’s stock.

Knight-Swift Transportation Company Profile

Knight-Swift Transportation Holdings Inc is a transportation and logistics company that provides freight services across North America. The company operates one of the largest truckload fleets in the United States and serves a broad range of industries through its network of company-owned equipment, independent contractors, terminals and distribution facilities.

Its services include dry-van, refrigerated and flatbed truckload transportation; dedicated and expedited delivery; less-than-truckload shipping; freight brokerage; intermodal transportation; cross-border logistics; and warehousing and other supply-chain services.