Alpine Associates Management Inc. acquired a new stake in shares of Swift Transportation Company (NYSE:SWFT) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 951,900 shares of the transportation company’s stock, valued at approximately $25,225,000. Alpine Associates Management Inc. owned about 0.71% of Swift Transportation as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of SWFT. BlackRock Inc. increased its holdings in shares of Swift Transportation by 40,731.1% during the 1st quarter. BlackRock Inc. now owns 4,864,210 shares of the transportation company’s stock valued at $99,912,000 after acquiring an additional 4,852,297 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Swift Transportation by 972.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,783,355 shares of the transportation company’s stock valued at $126,758,000 after purchasing an additional 4,337,518 shares during the period. Renaissance Technologies LLC bought a new stake in Swift Transportation during the 1st quarter valued at approximately $38,449,000. UBS Oconnor LLC bought a new stake in Swift Transportation during the 1st quarter valued at approximately $20,797,000. Finally, Vanguard Group Inc. boosted its stake in Swift Transportation by 9.0% during the 1st quarter. Vanguard Group Inc. now owns 7,661,850 shares of the transportation company’s stock valued at $157,374,000 after purchasing an additional 629,792 shares during the period. 74.86% of the stock is currently owned by institutional investors and hedge funds.

In other news, CFO Virginia Henkels sold 17,153 shares of the company’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $26.95, for a total value of $462,273.35. Following the completion of the sale, the chief financial officer now owns 16,294 shares in the company, valued at $439,123.30. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Richard Stocking sold 78,215 shares of the company’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $28.66, for a total value of $2,241,641.90. Following the completion of the sale, the insider now owns 108,864 shares of the company’s stock, valued at approximately $3,120,042.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 251,141 shares of company stock valued at $6,959,714. Insiders own 44.90% of the company’s stock.

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Shares of Swift Transportation Company (SWFT) traded up 0.68% during mid-day trading on Wednesday, hitting $29.49. The company’s stock had a trading volume of 7,296,089 shares. The company has a market cap of $3.95 billion, a price-to-earnings ratio of 37.81 and a beta of 1.96. Swift Transportation Company has a 1-year low of $19.21 and a 1-year high of $29.70. The company has a 50-day moving average of $26.91 and a 200 day moving average of $24.37.

Swift Transportation (NYSE:SWFT) last released its quarterly earnings results on Monday, July 24th. The transportation company reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.05. Swift Transportation had a return on equity of 22.23% and a net margin of 2.99%. The company had revenue of $1,000.00 million during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the prior year, the business posted $0.34 earnings per share. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, analysts expect that Swift Transportation Company will post $0.98 EPS for the current year.

Several analysts recently weighed in on the company. BidaskClub upgraded Swift Transportation from a “hold” rating to a “buy” rating in a research note on Thursday, September 7th. ValuEngine upgraded Swift Transportation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Cowen and Company restated a “buy” rating and set a $25.00 target price on shares of Swift Transportation in a research note on Monday, August 28th. Zacks Investment Research downgraded Swift Transportation from a “buy” rating to a “hold” rating in a research note on Saturday, August 5th. Finally, Stifel Nicolaus restated a “hold” rating and set a $27.00 target price on shares of Swift Transportation in a research note on Tuesday, July 25th. Seven equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $28.59.

Swift Transportation Company Profile

Swift Transportation Company is a multi-faceted transportation services company. As of December 31, 2016, the Company operated fleets of truckload equipment in North America from over 40 terminals near key freight centers and traffic lanes. The Company’ segments include Truckload, Dedicated, Swift Refrigerated and Intermodal.

Institutional Ownership by Quarter for Swift Transportation (NYSE:SWFT)

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