Balyasny Asset Management LLC Purchases New Stake in Swift Transportation Company (KNX)
Balyasny Asset Management LLC purchased a new position in shares of Swift Transportation Company (NYSE:KNX) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 820,889 shares of the transportation company’s stock, valued at approximately $30,414,000. Balyasny Asset Management LLC owned approximately 1.02% of Swift Transportation as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Swift Transportation by 11.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,794 shares of the transportation company’s stock worth $104,000 after acquiring an additional 288 shares during the period. LS Investment Advisors LLC raised its holdings in shares of Swift Transportation by 33.5% during the first quarter. LS Investment Advisors LLC now owns 3,363 shares of the transportation company’s stock worth $105,000 after acquiring an additional 844 shares during the period. FNY Managed Accounts LLC acquired a new stake in shares of Swift Transportation during the first quarter worth $122,000. Victory Capital Management Inc. raised its holdings in shares of Swift Transportation by 43.6% during the first quarter. Victory Capital Management Inc. now owns 4,578 shares of the transportation company’s stock worth $144,000 after acquiring an additional 1,390 shares during the period. Finally, Riverhead Capital Management LLC raised its holdings in shares of Swift Transportation by 58.2% during the second quarter. Riverhead Capital Management LLC now owns 5,063 shares of the transportation company’s stock worth $187,000 after acquiring an additional 1,863 shares during the period.
A number of equities research analysts recently commented on KNX shares. Buckingham Research started coverage on shares of Swift Transportation in a report on Monday, August 21st. They set a “buy” rating and a $43.00 price objective on the stock. BidaskClub upgraded shares of Swift Transportation from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. Deutsche Bank AG set a $45.00 price objective on shares of Swift Transportation and gave the stock a “buy” rating in a report on Monday, July 31st. Stephens upgraded shares of Swift Transportation from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $36.00 to $42.00 in a report on Monday, June 12th. Finally, Seaport Global Securities restated a “buy” rating on shares of Swift Transportation in a report on Thursday, September 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $40.06.
TRADEMARK VIOLATION NOTICE: This piece was reported by Watch List News and is the property of of Watch List News. If you are reading this piece on another site, it was illegally copied and republished in violation of United States & international trademark and copyright legislation. The original version of this piece can be viewed at https://www.watchlistnews.com/balyasny-asset-management-llc-purchases-new-stake-in-swift-transportation-company-knx/1601213.html.
Shares of Swift Transportation Company (NYSE KNX) opened at 41.55 on Friday. The firm has a market capitalization of $3.35 billion, a price-to-earnings ratio of 42.84 and a beta of 1.96. The firm has a 50-day moving average of $38.27 and a 200 day moving average of $35.07. Swift Transportation Company has a 52 week low of $26.85 and a 52 week high of $44.45.
Swift Transportation (NYSE:KNX) last released its quarterly earnings data on Wednesday, July 26th. The transportation company reported $0.25 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.25. Swift Transportation had a net margin of 2.99% and a return on equity of 22.23%. The firm had revenue of $273.20 million for the quarter, compared to analyst estimates of $283.88 million. During the same period last year, the firm earned $0.31 earnings per share. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, equities analysts predict that Swift Transportation Company will post $1.21 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 1st were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend was Wednesday, August 30th.
In other Swift Transportation news, Director G D. Madden sold 1,875 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $36.52, for a total value of $68,475.00. Following the transaction, the director now directly owns 56,011 shares of the company’s stock, valued at $2,045,521.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Todd F. Carlson sold 3,000 shares of the firm’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $37.86, for a total transaction of $113,580.00. Following the completion of the transaction, the general counsel now directly owns 23,638 shares in the company, valued at $894,934.68. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by company insiders.
Swift Transportation Company Profile
Knight Transportation, Inc is a provider of multiple truckload transportation and logistics services, which involve the movement of trailer or container loads of freight from origin to destination for a single customer. The Company operates through two segments: Trucking and Logistics. Its Trucking segment consists of three operating units: dry van truckload, temperature-controlled truckload and drayage services.
Want to see what other hedge funds are holding KNX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Swift Transportation Company (NYSE:KNX).
Receive News & Ratings for Swift Transportation Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Swift Transportation Company and related companies with Analyst Ratings Network's FREE daily email newsletter.