Victory Capital Management Inc. decreased its holdings in shares of Swift Transportation Company by 13.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,881,069 shares of the transportation companys stock after selling 293,680 shares during the period. Victory Capital Management Inc. owned approximately 1.40% of Swift Transportation worth $49,848,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. TrimTabs Asset Management LLC lifted its stake in Swift Transportation by 89.0% in the 1st quarter. TrimTabs Asset Management LLC now owns 5,013 shares of the transportation companys stock valued at $103,000 after buying an additional 2,360 shares in the last quarter. James Investment Research Inc. lifted its stake in Swift Transportation by 51.5% in the 1st quarter. James Investment Research Inc. now owns 5,150 shares of the transportation companys stock valued at $106,000 after buying an additional 1,750 shares in the last quarter. Exane Derivatives purchased a new stake in Swift Transportation in the 1st quarter valued at approximately $124,000. Ameritas Investment Partners Inc. purchased a new stake in Swift Transportation in the 1st quarter valued at approximately $133,000. Finally, FNY Partners Fund LP lifted its stake in Swift Transportation by 20,933.3% in the 1st quarter. FNY Partners Fund LP now owns 7,500 shares of the transportation companys stock valued at $154,000 after buying an additional 7,536 shares in the last quarter. Institutional investors own 74.86% of the companys stock.
SWFT has been the topic of a number of recent research reports. Zacks Investment Research raised Swift Transportation from a sell rating to a hold rating in a research note on Tuesday, July 18th. ValuEngine upgraded Swift Transportation from a hold rating to a buy rating in a report on Friday, June 2nd. Stephens upgraded Swift Transportation from an equal weight rating to an overweight rating and increased their price target for the company from $26.00 to $30.00 in a report on Monday, June 12th. Cowen and Company reiterated a buy rating and issued a $25.00 price target on shares of Swift Transportation in a report on Monday, August 28th. Finally, Bank of America Corporation reiterated a buy rating and issued a $31.00 price target (up from $29.00) on shares of Swift Transportation in a report on Monday, July 10th. Seven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the companys stock. The stock presently has a consensus rating of Buy and a consensus price target of $27.99.
In related news, CFO Virginia Henkels sold 17,153 shares of Swift Transportation stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $26.95, for a total transaction of $462,273.35. Following the sale, the chief financial officer now directly owns 16,294 shares of the companys stock, valued at approximately $439,123.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Richard Stocking sold 78,215 shares of Swift Transportation stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $28.66, for a total transaction of $2,241,641.90. Following the sale, the insider now owns 108,864 shares in the company, valued at $3,120,042.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 251,141 shares of company stock valued at $6,959,714. 44.90% of the stock is currently owned by corporate insiders.
Shares of Swift Transportation Company (NYSE:SWFT) traded up 0.68% during midday trading on Tuesday, hitting $29.49. 7,296,089 shares of the companys stock were exchanged. Swift Transportation Company has a 52 week low of $19.21 and a 52 week high of $29.70. The company has a 50-day moving average of $26.91 and a 200-day moving average of $24.37. The firm has a market cap of $3.95 billion, a price-to-earnings ratio of 37.81 and a beta of 1.96.
Swift Transportation (NYSE:SWFT) last released its earnings results on Monday, July 24th. The transportation company reported $0.25 earnings per share for the quarter, beating analysts consensus estimates 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 net margin of 2.99% and a return on equity of 22.23%. The firms revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.34 earnings per share. Equities research analysts expect that Swift Transportation Company will post $0.98 EPS for the current fiscal year.
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