First Allied Advisory Services Inc. Has $326,000 Stake in K... - Jonathan Cartu - Moving & Transportation Services
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First Allied Advisory Services Inc. Has $326,000 Stake in K…

Jonathan Cartu

First Allied Advisory Services Inc. Has $326,000 Stake in K…


First Allied Advisory Services Inc. trimmed its stake in shares of Knight-Swift Transportation Holdings Inc (NYSE:KNX) by 20.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,949 shares of the transportation company’s stock after selling 2,611 shares during the period. First Allied Advisory Services Inc.’s holdings in Knight-Swift Transportation were worth $326,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. FMR LLC increased its position in shares of Knight-Swift Transportation by 30.7% during the fourth quarter. FMR LLC now owns 12,996,448 shares of the transportation company’s stock worth $325,820,000 after acquiring an additional 3,050,407 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in Knight-Swift Transportation by 25.7% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,961,925 shares of the transportation company’s stock worth $74,256,000 after purchasing an additional 606,350 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Knight-Swift Transportation by 19.6% during the third quarter. JPMorgan Chase & Co. now owns 2,916,099 shares of the transportation company’s stock worth $100,547,000 after purchasing an additional 476,959 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Knight-Swift Transportation by 16.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,705,986 shares of the transportation company’s stock worth $67,842,000 after purchasing an additional 379,298 shares during the last quarter. Finally, Frontier Capital Management Co. LLC boosted its holdings in Knight-Swift Transportation by 17.0% during the fourth quarter. Frontier Capital Management Co. LLC now owns 2,680,974 shares of the transportation company’s stock worth $67,212,000 after purchasing an additional 389,013 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

A number of analysts have commented on the stock. ValuEngine cut shares of Knight-Swift Transportation from a “hold” rating to a “sell” rating in a research note on Wednesday, May 8th. TheStreet upgraded shares of Knight-Swift Transportation from a “c+” rating to a “b-” rating in a research note on Wednesday, February 13th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $44.45.

KNX stock opened at $30.17 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.07 and a current ratio of 1.07. Knight-Swift Transportation Holdings Inc has a 12 month low of $23.27 and a 12 month high of $43.35. The stock has a market capitalization of $5.22 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 0.75 and a beta of 1.94.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings results on Wednesday, April 24th. The transportation company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.03. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.31 billion. Knight-Swift Transportation had a net margin of 8.28% and a return on equity of 8.69%. The firm’s revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.44 EPS. Equities research analysts forecast that Knight-Swift Transportation Holdings Inc will post 2.66 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Monday, June 3rd will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.24 annualized dividend and a yield of 0.80%. Knight-Swift Transportation’s dividend payout ratio is presently 9.38%.

In other news, EVP James E. Jr. Updike sold 8,750 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $33.43, for a total value of $292,512.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Shannon Breen sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $34.82, for a total transaction of $34,820.00. The disclosure for this sale can be found here. 27.50% of the stock is owned by company insiders.

TRADEMARK VIOLATION NOTICE: “First Allied Advisory Services Inc. Has $326,000 Stake in Knight-Swift Transportation Holdings Inc (NYSE:KNX)” was reported by Mayfield Recorder and is owned by of Mayfield Recorder. If you are reading this piece on another domain, it was illegally stolen and reposted in violation of United States and international copyright legislation. The original version of this piece can be accessed at https://mayfieldrecorder.com/2019/06/09/first-allied-advisory-services-inc-has-326000-position-in-knight-swift-transportation-holdings-inc-knx.html.

About Knight-Swift Transportation

Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation 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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