Timpani Capital Management LLC Boosts Stake in Knight Transportation, Inc. (KNX)

Timpani Capital Management LLC lifted its stake in Knight Transportation, Inc. (NYSE:KNX) by 233.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 Knight Transportation worth $2,728,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Eaton Vance Management increased its stake in shares of Knight Transportation by 0.6% in the second quarter. Eaton Vance Management now owns 8,052 shares of the transportation company’s stock worth $298,000 after acquiring an additional 49 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in shares of Knight Transportation by 0.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 10,069 shares of the transportation company’s stock worth $373,000 after acquiring an additional 85 shares during the last quarter. US Bancorp DE increased its stake in shares of Knight Transportation by 0.3% in the second quarter. US Bancorp DE now owns 29,263 shares of the transportation company’s stock worth $1,084,000 after acquiring an additional 92 shares during the last quarter. Granite Investment Partners LLC increased its stake in shares of Knight Transportation by 0.4% in the second quarter. Granite Investment Partners LLC now owns 23,751 shares of the transportation company’s stock worth $880,000 after acquiring an additional 92 shares during the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Knight Transportation by 0.3% in the second quarter. Arizona State Retirement System now owns 34,810 shares of the transportation company’s stock worth $1,290,000 after acquiring an additional 100 shares during the last quarter. 88.45% of the stock is currently owned by institutional investors and hedge funds.

Knight Transportation, Inc. (NYSE:KNX) traded up 0.25% during midday trading on Friday, reaching $40.85. 19,618,037 shares of the company’s stock were exchanged. Knight Transportation, Inc. has a 52 week low of $26.85 and a 52 week high of $41.30. The firm has a 50-day moving average price of $37.47 and a 200 day moving average price of $34.66. The company has a market cap of $3.29 billion, a price-to-earnings ratio of 42.11 and a beta of 0.87.

Knight Transportation (NYSE:KNX) last announced its quarterly earnings data on Wednesday, July 26th. The transportation company reported $0.25 EPS for the quarter, meeting analysts’ consensus estimates of $0.25. Knight Transportation had a net margin of 7.03% and a return on equity of 10.39%. The company had revenue of $273.20 million during the quarter, compared to the consensus estimate of $283.88 million. During the same quarter last year, the firm posted $0.31 EPS. The company’s quarterly revenue was down 1.1% on a year-over-year basis. Analysts anticipate that Knight Transportation, Inc. will post $0.99 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date is Wednesday, August 30th. Knight Transportation’s dividend payout ratio (DPR) is presently 25.00%.

A number of equities analysts have recently weighed in on the stock. Buckingham Research assumed coverage on shares of Knight Transportation in a research note on Monday, August 21st. They issued a “buy” rating and a $43.00 price target on the stock. BidaskClub upgraded shares of Knight Transportation from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Deutsche Bank AG set a $45.00 price objective on shares of Knight Transportation and gave the stock a “buy” rating in a report on Monday, July 31st. Zacks Investment Research cut shares of Knight Transportation from a “buy” rating to a “hold” rating in a report on Saturday, July 29th. Finally, Bank of America Corporation reiterated a “buy” rating and issued a $43.00 price objective (up from $41.00) on shares of Knight Transportation in a report on Monday, July 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $38.44.

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In other news, Director G D. Madden sold 1,875 shares of Knight Transportation stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $36.52, for a total value of $68,475.00. Following the completion of the transaction, the director now owns 56,011 shares of the company’s stock, valued at approximately $2,045,521.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Todd F. Carlson sold 3,000 shares of Knight Transportation stock in a transaction dated 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 of the company’s stock, valued at approximately $894,934.68. The disclosure for this sale can be found here. In the last three months, insiders sold 7,675 shares of company stock valued at $282,155. Insiders own 9.90% of the company’s stock.

Knight Transportation 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.

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

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