Highbridge Capital Management LLC Buys New Stake in Heartland Express, Inc. (HTLD)
Highbridge Capital Management LLC bought a new stake in shares of Heartland Express, Inc. (NASDAQ:HTLD) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 15,430 shares of the transportation company’s stock, valued at approximately $387,000.
Other large investors also recently added to or reduced their stakes in the company. Bessemer Group Inc. lifted its position in shares of Heartland Express by 6.3% during the 3rd quarter. Bessemer Group Inc. now owns 394,682 shares of the transportation company’s stock valued at $9,898,000 after acquiring an additional 23,298 shares during the period. Teachers Advisors LLC raised its holdings in shares of Heartland Express by 5.3% during the 1st quarter. Teachers Advisors LLC now owns 81,169 shares of the transportation company’s stock worth $1,627,000 after buying an additional 4,066 shares in the last quarter. Cipher Capital LP acquired a new position in shares of Heartland Express during the 2nd quarter worth $599,000. TIAA CREF Investment Management LLC raised its holdings in shares of Heartland Express by 38.2% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 166,282 shares of the transportation company’s stock worth $3,462,000 after buying an additional 45,957 shares in the last quarter. Finally, Dean Capital Management raised its holdings in shares of Heartland Express by 137.7% during the 2nd quarter. Dean Capital Management now owns 215,880 shares of the transportation company’s stock worth $4,495,000 after buying an additional 125,060 shares in the last quarter. Hedge funds and other institutional investors own 61.64% of the company’s stock.
Heartland Express, Inc. (HTLD) opened at $22.77 on Tuesday. Heartland Express, Inc. has a fifty-two week low of $18.71 and a fifty-two week high of $25.22. The company has a market capitalization of $1,892.64, a price-to-earnings ratio of 37.87, a PEG ratio of 2.79 and a beta of 0.55.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Tuesday, December 12th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Monday, December 11th. This represents a $0.08 dividend on an annualized basis and a yield of 0.35%. Heartland Express’s payout ratio is presently 13.33%.
A number of equities analysts have recently commented on the company. TheStreet cut Heartland Express from a “b” rating to a “c” rating in a report on Friday, October 27th. UBS boosted their price target on Heartland Express from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Monday, October 30th. Robert W. Baird reissued a “hold” rating and set a $26.00 price target on shares of Heartland Express in a report on Friday, October 6th. Stifel Nicolaus raised Heartland Express from a “hold” rating to a “buy” rating and boosted their price target for the stock from $22.00 to $28.00 in a report on Friday, September 29th. Finally, Zacks Investment Research raised Heartland Express from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a report on Monday, October 9th. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $24.17.
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About Heartland Express
Heartland Express, Inc is a holding company. The Company is a short-to-medium haul truckload carrier. The Company focuses primarily on short- to medium-haul, asset-based dry van truckload services in regional markets near its terminals. The Company’s truckload services are primarily asset-based transportation services in the dry van truckload market, and it also offers truckload temperature-controlled transportation services and non-asset based brokerage services.
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