Timpani Capital Management LLC Buys 51,575 Shares of Swift Transportation Company (NYSE:KNX)

Timpani Capital Management LLC raised its holdings in shares of Swift Transportation Company (NYSE:KNX) by 233.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 73,624 shares of the transportation company’s stock after acquiring an additional 51,575 shares during the quarter. Timpani Capital Management LLC owned approximately 0.09% of Swift Transportation worth $2,728,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the company. Alliancebernstein L.P. boosted its stake in shares of Swift Transportation by 8.8% during the 2nd quarter. Alliancebernstein L.P. now owns 112,227 shares of the transportation company’s stock worth $4,158,000 after acquiring an additional 9,100 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of Swift Transportation by 4.7% during the 2nd quarter. Wells Fargo & Company MN now owns 166,128 shares of the transportation company’s stock valued at $6,154,000 after buying an additional 7,430 shares in the last quarter. Eaton Vance Management lifted its stake in shares of Swift Transportation by 0.6% during the 2nd quarter. Eaton Vance Management now owns 8,052 shares of the transportation company’s stock valued at $298,000 after buying an additional 49 shares in the last quarter. Long Road Investment Counsel LLC purchased a new position in shares of Swift Transportation during the 2nd quarter valued at $229,000. Finally, Oppenheimer Asset Management Inc. lifted its stake in shares of Swift Transportation by 0.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 10,069 shares of the transportation company’s stock valued at $373,000 after buying an additional 85 shares in the last quarter. Institutional investors and hedge funds own 74.86% of the company’s stock.

Shares of Swift Transportation Company (NYSE:KNX) traded up 2.08% during trading on Friday, reaching $39.82. 3,313,324 shares of the company traded hands. The stock has a market capitalization of $3.21 billion, a PE ratio of 41.05 and a beta of 1.96. Swift Transportation Company has a 52 week low of $26.85 and a 52 week high of $44.45. The firm has a 50 day moving average of $38.02 and a 200 day moving average of $34.93.

Swift Transportation (NYSE:KNX) last posted its quarterly earnings results on Wednesday, July 26th. The transportation company reported $0.25 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate 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 quarter last year, the firm posted $0.31 earnings per share. Swift Transportation’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, equities analysts predict that Swift Transportation Company will post $1.23 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.60%. The ex-dividend date is Wednesday, August 30th.

A number of research firms recently weighed in on KNX. BidaskClub cut shares of Swift Transportation from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 12th. Deutsche Bank AG set a $45.00 target price on shares of Swift Transportation and gave the company a “buy” rating in a research note on Monday, July 31st. Zacks Investment Research cut shares of Swift Transportation from a “buy” rating to a “hold” rating and set a $40.00 price target on the stock. in a research note on Wednesday, July 12th. Stephens upgraded shares of Swift Transportation from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $36.00 to $42.00 in a research note on Monday, June 12th. Finally, Buckingham Research assumed coverage on shares of Swift Transportation in a research note on Monday, August 21st. They issued a “buy” rating and a $43.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the stock. Swift Transportation has a consensus rating of “Buy” and an average target price of $38.87.

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In other Swift Transportation news, General Counsel Todd F. Carlson sold 3,000 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $37.86, for a total value of $113,580.00. Following the completion of the sale, the general counsel now owns 23,638 shares of the company’s stock, valued at $894,934.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director G D. Madden sold 1,875 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $36.52, for a total transaction of $68,475.00. Following the sale, the director now directly owns 56,011 shares of the company’s stock, valued at approximately $2,045,521.72. The disclosure for this sale can be found here. 9.90% of the stock is owned by company insiders.

About Swift Transportation

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.

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

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