Stock traders buy large volume of put options on Knight-Swift Transportation (NYSE: KNX)

Knight-Swift Transportation Holdings Inc. (NYSE:KNX – Get Rating) received unusual options trades on Monday. Investors bought 13,484 put options on the company. This represents an increase of approximately 1,145% from the typical daily volume of 1,083 put options.

Insider Buying and Selling at Knight-Swift Transportation

Separately, Executive Vice President James E. Jr. Updike sold 2,400 shares in a trade on Friday, July 29. The stock was sold at an average price of $55.18, for a total value of $132,432.00. Following the transaction, the executive vice president now directly owns 19,944 shares of the company, valued at approximately $1,100,509.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.10% of the shares are held by insiders.

Institutional entries and exits

A number of hedge funds and other institutional investors have recently changed their positions in KNX. Steward Financial Group LLC acquired a new stake in Knight-Swift Transportation in Q1 worth approximately $26,000. Parkside Financial Bank & Trust increased its holdings in Knight-Swift Transportation by 336.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 436 shares of the transportation company valued at $27,000 after buying 336 additional shares during the period. Geneos Wealth Management Inc. purchased a new equity stake in Knight-Swift Transportation during Q2 for $28,000. TCI Wealth Advisors Inc. increased its stake in Knight-Swift Transportation by 263.9% during the first quarter. TCI Wealth Advisors Inc. now owns 655 shares of the transportation company worth $33,000 after buying 475 additional shares in the last quarter. Finally, Quent Capital LLC bought a new position in Knight-Swift Transportation stock in Q4 worth $36,000. Hedge funds and other institutional investors hold 89.64% of the company’s shares.

Knight-Swift transportation stock up 0.2%

KNX traded down $0.10 during Monday’s trading, hitting $48.38. 54,203 shares of the company were traded, compared to its average volume of 1,843,051. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt ratio of 0.22. The company’s 50-day simple moving average is $51.66 and its two-hundred-day simple moving average is $49.38. Knight-Swift Transportation has a 12 month minimum of $42.50 and a 12 month maximum of $62.29. The stock has a market capitalization of $7.77 billion, a price-earnings ratio of 9.02, a PEG ratio of 0.60 and a beta of 1.20.

Knight-Swift Transportation (NYSE:KNX – Get Rating) last released its quarterly results on Wednesday, July 20. The transportation company reported earnings per share (EPS) of $1.41 for the quarter, beating analyst consensus estimates of $1.35 by $0.06. The company posted revenue of $1.96 billion in the quarter, against analyst estimates of $1.85 billion. Knight-Swift Transportation had a return on equity of 14.44% and a net margin of 12.26%. Knight-Swift Transportation’s revenue for the quarter increased 49.1% compared to the same quarter last year. In the same quarter a year earlier, the company posted EPS of $0.98. Analysts predict Knight-Swift Transportation will post earnings per share of 5.38 for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 26. Shareholders of record on Monday, September 5 received a dividend of $0.12. The ex-dividend date was Thursday, September 1. This represents a dividend of $0.48 on an annualized basis and a yield of 0.99%. Knight-Swift Transportation’s dividend payout ratio is currently 8.97%.

Analyst upgrades and downgrades

Several stock analysts weighed in on KNX shares. Evercore ISI upgraded Knight-Swift Transportation shares from an ‘in-line’ rating to an ‘outperforming’ rating and set a $35.00 price target on the stock in a Tuesday 12 research report. July. Susquehanna raised its price target on Knight-Swift Transportation from $64.00 to $65.00 and gave the stock a “positive” rating in a Thursday, July 21 research report. Credit Suisse Group lowered its price target on Knight-Swift Transportation shares to $66.00 in a Friday, July 22 research report. Susquehanna Bancshares raised its price target on Knight-Swift Transportation shares from $64.00 to $65.00 and gave the stock a “positive” rating in a Thursday, July 21 report. Finally, Wolfe Research upgraded Knight-Swift Transportation from an “underperforming” rating to a “peer performing” rating in a Tuesday, July 12 research note. One equity research analyst gave the stock a sell rating, three gave the company a hold rating and fifteen gave the company a buy rating. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.94.

Company Profile Knight-Swift Transportation

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Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation services in the United States, Mexico and Canada. The company operates through four segments: Trucking, Logistics, Less Than Truckload (LTL) and Intermodal. Its trucking services include irregular route, dedicated, refrigerated, flatbed, expedited, dry van, drayage and cross-border transportation of various products, commodities and materials.

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