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Redmond Asset Management LLC Grows Holdings in Knight-Swift Transportation Holdings Inc (NYSE:KNX)


Redmond Asset Management LLC grew its position in Knight-Swift Transportation Holdings Inc (NYSE:KNX) by 222.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 197,725 shares of the transportation company’s stock after acquiring an additional 136,419 shares during the quarter. Knight-Swift Transportation comprises 2.7% of Redmond Asset Management LLC’s holdings, making the stock its 3rd largest position. Redmond Asset Management LLC owned 0.11% of Knight-Swift Transportation worth $6,818,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in KNX. Stratos Wealth Partners LTD. purchased a new position in Knight-Swift Transportation during the third quarter worth approximately $135,000. First Interstate Bank purchased a new position in Knight-Swift Transportation during the third quarter worth approximately $194,000. Point72 Hong Kong Ltd lifted its position in Knight-Swift Transportation by 97.8% during the second quarter. Point72 Hong Kong Ltd now owns 5,642 shares of the transportation company’s stock worth $216,000 after buying an additional 2,789 shares in the last quarter. Vident Investment Advisory LLC purchased a new position in Knight-Swift Transportation during the second quarter worth approximately $240,000. Finally, Homrich & Berg purchased a new position in Knight-Swift Transportation during the second quarter worth approximately $269,000. Institutional investors and hedge funds own 80.94% of the company’s stock.

Several equities research analysts have issued reports on KNX shares. ValuEngine cut Knight-Swift Transportation from a “hold” rating to a “sell” rating in a research note on Friday. Zacks Investment Research cut Knight-Swift Transportation from a “hold” rating to a “sell” rating in a research note on Tuesday, October 16th. UBS Group reaffirmed a “neutral” rating and issued a $36.00 price objective (down from $43.00) on shares of Knight-Swift Transportation in a research note on Tuesday, December 4th. KeyCorp dropped their price objective on Knight-Swift Transportation from $45.00 to $41.00 and set an “overweight” rating for the company in a research note on Thursday, October 25th. Finally, Loop Capital began coverage on Knight-Swift Transportation in a research note on Tuesday, October 2nd. They issued a “buy” rating and a $45.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $47.12.

KNX traded up $0.05 on Tuesday, hitting $24.03. 1,289,860 shares of the company were exchanged, compared to its average volume of 2,746,859. Knight-Swift Transportation Holdings Inc has a twelve month low of $23.27 and a twelve month high of $51.94. The stock has a market capitalization of $4.27 billion, a price-to-earnings ratio of 17.41, a PEG ratio of 0.68 and a beta of 1.51. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.43 and a quick ratio of 1.43.

Knight-Swift Transportation (NYSE:KNX) last released its earnings results on Wednesday, October 24th. The transportation company reported $0.65 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.07. Knight-Swift Transportation had a return on equity of 7.26% and a net margin of 13.47%. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the previous year, the firm posted $0.25 EPS. Knight-Swift Transportation’s revenue for the quarter was up 158.2% on a year-over-year basis. On average, research analysts anticipate that Knight-Swift Transportation Holdings Inc will post 2.35 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 27th. Shareholders of record on Monday, December 3rd will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Friday, November 30th. Knight-Swift Transportation’s dividend payout ratio (DPR) is 17.39%.

In other Knight-Swift Transportation news, Director Robert E. Synowicki, Jr. purchased 1,000 shares of the firm’s stock in a transaction on Wednesday, December 12th. The stock was bought at an average cost of $28.83 per share, with a total value of $28,830.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 27.50% of the stock is owned by insiders.

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Knight-Swift Transportation Company Profile

Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation and logistics services in the United States, Mexico, and Canada. The company operates through six segments: Knight Trucking, Knight Logistics, Swift Truckload, Swift Dedicated, Swift Refrigerated, and Swift Intermodal.

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Institutional Ownership by Quarter for Knight-Swift Transportation (NYSE:KNX)

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