Traders Purchase High Volume of Put Options on Knight-Swift Transportation (KNX)

Knight-Swift Transportation Holdings Inc (NYSE:KNX) was the recipient of unusually large options trading on Monday. Stock investors bought 1,000 put options on the company. This is an increase of 1,135% compared to the typical volume of 81 put options.

A number of brokerages have commented on KNX. Morgan Stanley began coverage on Knight-Swift Transportation in a report on Wednesday. They set an “overweight” rating and a $50.00 price objective for the company. Barclays boosted their price objective on Knight-Swift Transportation from $33.00 to $37.00 and gave the stock an “underweight” rating in a report on Monday, October 2nd. ValuEngine lowered Knight-Swift Transportation from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Seaport Global Securities reissued a “buy” rating on shares of Knight-Swift Transportation in a report on Thursday, September 21st. Finally, UBS boosted their price objective on Knight-Swift Transportation from $43.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, September 29th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company’s stock. Knight-Swift Transportation currently has an average rating of “Buy” and a consensus target price of $41.65.

In other Knight-Swift Transportation news, General Counsel Todd F. Carlson sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $39.24, for a total transaction of $353,160.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Garnreiter sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $43.00, for a total value of $43,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 12,500 shares of company stock valued at $492,410 over the last three months. Corporate insiders own 44.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in KNX. Bank of New York Mellon Corp grew its holdings in Knight-Swift Transportation by 97.1% during the third quarter. Bank of New York Mellon Corp now owns 8,427,755 shares of the transportation company’s stock valued at $350,174,000 after purchasing an additional 4,151,669 shares during the period. Teachers Advisors LLC grew its holdings in Knight-Swift Transportation by 1,098.3% during the second quarter. Teachers Advisors LLC now owns 1,381,195 shares of the transportation company’s stock valued at $51,173,000 after purchasing an additional 1,265,934 shares during the period. Citadel Advisors LLC grew its holdings in Knight-Swift Transportation by 10,372.6% during the second quarter. Citadel Advisors LLC now owns 1,219,634 shares of the transportation company’s stock valued at $45,187,000 after purchasing an additional 1,207,988 shares during the period. Artemis Investment Management LLP grew its holdings in Knight-Swift Transportation by 1,958.7% during the third quarter. Artemis Investment Management LLP now owns 1,152,833 shares of the transportation company’s stock valued at $47,877,000 after purchasing an additional 1,096,835 shares during the period. Finally, Balyasny Asset Management LLC bought a new position in Knight-Swift Transportation during the second quarter valued at $30,414,000. 78.44% of the stock is owned by institutional investors and hedge funds.

Knight-Swift Transportation (NYSE:KNX) opened at $43.73 on Thursday. The stock has a market capitalization of $7,608.42, a P/E ratio of 32.07 and a beta of 2.03. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.14. Knight-Swift Transportation has a twelve month low of $26.68 and a twelve month high of $44.45.

Knight-Swift Transportation (NYSE:KNX) last released its earnings results on Monday, November 6th. The transportation company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.05). The business had revenue of $521.61 million during the quarter, compared to the consensus estimate of $1.33 billion. Knight-Swift Transportation had a net margin of 2.44% and a return on equity of 7.48%. During the same period in the prior year, the company earned $0.34 earnings per share. analysts anticipate that Knight-Swift Transportation will post 1.13 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 27th. Shareholders of record on Friday, December 1st will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Thursday, November 30th. Knight-Swift Transportation’s dividend payout ratio (DPR) is 6.66%.

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Knight-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.

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