Systematic Financial Management LP Purchases New Position in Swift Transportation Co. (SWFT)
Systematic Financial Management LP purchased a new position in shares of Swift Transportation Co. (NYSE:SWFT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 118,030 shares of the company’s stock, valued at approximately $1,818,000. Systematic Financial Management LP owned 0.09% of Swift Transportation as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the stock. Anchor Bolt Capital LP purchased a new stake in Swift Transportation during the first quarter worth about $21,223,000. Norges Bank purchased a new stake in Swift Transportation during the fourth quarter worth about $14,056,000. Renaissance Technologies LLC purchased a new stake in Swift Transportation during the first quarter worth about $14,041,000. Northpointe Capital LLC purchased a new stake in Swift Transportation during the second quarter worth about $10,706,000. Finally, Emerald Acquisition Ltd. purchased a new stake in Swift Transportation during the second quarter worth about $8,483,000. 74.70% of the stock is owned by institutional investors.
Shares of Swift Transportation Co. (NYSE:SWFT) traded down 0.24% on Wednesday, reaching $21.06. The company had a trading volume of 998,103 shares. Swift Transportation Co. has a 52 week low of $11.74 and a 52 week high of $22.15. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of 16.02 and a beta of 2.38. The stock’s 50 day moving average is $19.45 and its 200 day moving average is $17.51.
Swift Transportation (NYSE:SWFT) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.03. Swift Transportation had a return on equity of 32.87% and a net margin of 4.44%. The business earned $1.01 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the business posted $0.37 EPS. On average, equities analysts anticipate that Swift Transportation Co. will post $1.35 EPS for the current year.
SWFT has been the subject of a number of analyst reports. Bank of America Corp. reaffirmed a “buy” rating and issued a $24.00 price target on shares of Swift Transportation in a report on Monday, September 12th. Citigroup Inc. raised their price target on Swift Transportation from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, September 12th. TheStreet lowered Swift Transportation to a “hold” rating in a research note on Thursday, May 26th. Zacks Investment Research lowered Swift Transportation from a “hold” rating to a “sell” rating in a research note on Wednesday, June 29th. Finally, Stifel Nicolaus lifted their price objective on Swift Transportation from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, July 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $20.03.
In other Swift Transportation news, Director Richard H. Dozer sold 2,282 shares of the stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $18.63, for a total transaction of $42,513.66. Following the completion of the transaction, the director now owns 17,405 shares of the company’s stock, valued at approximately $324,255.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jose A. Cardenas sold 2,000 shares of the stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $19.60, for a total transaction of $39,200.00. Following the transaction, the director now directly owns 11,275 shares of the company’s stock, valued at approximately $220,990. The disclosure for this sale can be found here. 44.90% of the stock is owned by company insiders.
Swift Transportation Company Profile
Swift Transportation Company (Swift Transportation Co) is a multi-faceted transportation services company, which operates the fleet of truckload equipment in North America from over 40 terminals near key freight centers and traffic lanes. The Company operates in four segments: Truckload, Dedicated, Swift Refrigerated and Intermodal.
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