Polaris Capital Management LLC increased its position in shares of Swift Transportation Co (NYSE:SWFT) by 476.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 553,200 shares of the transportation company’s stock after acquiring an additional 457,235 shares during the period. Swift Transportation makes up about 2.0% of Polaris Capital Management LLC’s investment portfolio, making the stock its 14th largest position. Polaris Capital Management LLC owned approximately 0.41% of Swift Transportation worth $34,647,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC acquired a new position in Swift Transportation during the second quarter worth about $117,000. Ameritas Investment Partners Inc. acquired a new position in Swift Transportation during the first quarter worth about $133,000. FNY Partners Fund LP grew its holdings in Swift Transportation by 20,933.3% during the first quarter. FNY Partners Fund LP now owns 7,500 shares of the transportation company’s stock worth $154,000 after acquiring an additional 7,536 shares during the period. Paloma Partners Management Co acquired a new position in Swift Transportation during the first quarter worth about $236,000. Finally, Prudential Financial Inc. grew its holdings in Swift Transportation by 0.7% during the first quarter. Prudential Financial Inc. now owns 11,546 shares of the transportation company’s stock worth $237,000 after acquiring an additional 80 shares during the period. 74.86% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Swift Transportation Co (NYSE:SWFT) traded up inf% during midday trading on Thursday, hitting $29.49. The stock had a trading volume of 7,296,089 shares. The company has a market capitalization of $3.95 billion, a PE ratio of 37.81 and a beta of 1.96. Swift Transportation Co has a one year low of $26.72 and a one year high of $41.31. The firm’s 50-day moving average is $36.11 and its 200 day moving average is $33.82.
Swift Transportation (NYSE:SWFT) last posted its quarterly earnings data on Monday, July 24th. The transportation company reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.05. The business had revenue of $1,000.00 million during the quarter, compared to the consensus estimate of $1.02 billion. Swift Transportation had a return on equity of 15.10% and a net margin of 2.65%. Swift Transportation’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period last year, the company earned $0.34 earnings per share. Equities analysts expect that Swift Transportation Co will post $1.41 earnings per share for the current fiscal year.
A number of research analysts recently issued reports on SWFT shares. BidaskClub raised Swift Transportation from a “hold” rating to a “buy” rating in a report on Thursday, September 7th. Stifel Nicolaus reaffirmed a “hold” rating and set a $27.00 target price on shares of Swift Transportation in a report on Tuesday, July 25th. Cowen and Company reissued a “buy” rating and issued a $25.00 price target on shares of Swift Transportation in a research note on Monday, August 28th. Zacks Investment Research raised Swift Transportation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. Finally, ValuEngine raised Swift Transportation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $28.59.
In related news, CFO Virginia Henkels sold 17,153 shares of the stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $26.95, for a total transaction of $462,273.35. Following the completion of the transaction, the chief financial officer now directly owns 16,294 shares of the company’s stock, valued at $439,123.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Richard Stocking sold 126,722 shares of the stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $27.30, for a total value of $3,459,510.60. Following the transaction, the insider now directly owns 133,902 shares of the company’s stock, valued at $3,655,524.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 251,141 shares of company stock valued at $6,959,714. 44.90% of the stock is owned by corporate insiders.
About Swift Transportation
Knight-Swift Transportation Holdings Inc, formerly Swift Transportation Company, provides truckload services in North America. The Company also provides rail intermodal and non-asset based freight brokerage and logistics management services. The Company provides its services across United States, Mexico and Canada using its dry van, refrigerated, flatbed and specialized trailers, and intermodal containers.
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