Giverny Capital Inc. Sells 199,148 Shares of Knight Transportation, Inc. (KNX)

Giverny Capital Inc. Sells 199,148 Shares of Knight Transportation, Inc. (KNX)

Giverny Capital Inc. decreased its position in shares of Knight Transportation, Inc. (NYSE:KNX) by 47.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 222,808 shares of the company’s stock after selling 199,148 shares during the period. Knight Transportation comprises 1.2% of Giverny Capital Inc.’s investment portfolio, making the stock its 19th largest position. Giverny Capital Inc. owned 0.28% of Knight Transportation worth $6,392,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. UBS Asset Management Americas Inc. raised its stake in shares of Knight Transportation by 24.0% in the third quarter. UBS Asset Management Americas Inc. now owns 41,514 shares of the company’s stock worth $1,191,000 after buying an additional 8,037 shares during the period. Norris Perne & French LLP MI raised its stake in shares of Knight Transportation by 3.9% in the third quarter. Norris Perne & French LLP MI now owns 156,878 shares of the company’s stock worth $4,501,000 after buying an additional 5,851 shares during the period. OLD National Bancorp IN acquired a new stake in shares of Knight Transportation during the third quarter worth approximately $259,000. Louisiana State Employees Retirement System raised its stake in shares of Knight Transportation by 8.5% in the third quarter. Louisiana State Employees Retirement System now owns 29,300 shares of the company’s stock worth $841,000 after buying an additional 2,300 shares during the period. Finally, Arizona State Retirement System raised its stake in shares of Knight Transportation by 8.5% in the third quarter. Arizona State Retirement System now owns 34,310 shares of the company’s stock worth $984,000 after buying an additional 2,700 shares during the period. Institutional investors and hedge funds own 92.93% of the company’s stock.

Shares of Knight Transportation, Inc. (NYSE:KNX) opened at 32.85 on Friday. The stock has a market capitalization of $2.63 billion, a P/E ratio of 28.32 and a beta of 0.74. Knight Transportation, Inc. has a one year low of $23.77 and a one year high of $38.80. The stock has a 50 day moving average of $33.50 and a 200-day moving average of $31.00.

Knight Transportation (NYSE:KNX) last released its quarterly earnings data on Wednesday, January 25th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.31 by $0.02. Knight Transportation had a return on equity of 12.58% and a net margin of 8.30%. The business earned $289.10 million during the quarter, compared to the consensus estimate of $285.76 million. During the same quarter in the previous year, the business posted $0.36 earnings per share. Knight Transportation’s quarterly revenue was down .6% compared to the same quarter last year. Equities analysts forecast that Knight Transportation, Inc. will post $1.18 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 27th. Investors of record on Friday, March 3rd will be issued a $0.06 dividend. The ex-dividend date is Wednesday, March 1st. This represents a $0.24 annualized dividend and a yield of 0.73%. Knight Transportation’s payout ratio is 20.87%.

A number of analysts have commented on the stock. Stifel Nicolaus lowered shares of Knight Transportation from a “buy” rating to a “hold” rating and boosted their price target for the company from $26.00 to $30.00 in a research note on Friday, December 16th. Seaport Global Securities initiated coverage on shares of Knight Transportation in a research note on Sunday, December 18th. They issued a “buy” rating and a $42.00 target price for the company. Cowen and Company upped their target price on shares of Knight Transportation from $25.00 to $29.00 and gave the stock a “market perform” rating in a research note on Thursday, January 26th. Zacks Investment Research lowered shares of Knight Transportation from a “hold” rating to a “strong sell” rating in a research note on Monday, January 30th. Finally, Stephens lowered shares of Knight Transportation from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, January 4th. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. Knight Transportation presently has an average rating of “Hold” and a consensus target price of $28.65.

About Knight 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. The Company operates primarily in the United States with minor operations in Canada and Mexico.

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