IndexIQ Advisors LLC purchased a new position in shares of Swift Transportation Company (NYSE:SWFT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 290,961 shares of the transportation company’s stock, valued at approximately $7,710,000. IndexIQ Advisors LLC owned 0.22% of Swift Transportation at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SWFT. Prudential Financial Inc. boosted its position in shares of Swift Transportation by 0.7% in the first quarter. Prudential Financial Inc. now owns 11,546 shares of the transportation company’s stock worth $237,000 after buying an additional 80 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Swift Transportation by 1.2% in the first quarter. Principal Financial Group Inc. now owns 16,484 shares of the transportation company’s stock worth $339,000 after buying an additional 195 shares during the last quarter. Sawtooth Solutions LLC boosted its position in shares of Swift Transportation by 1.6% in the first quarter. Sawtooth Solutions LLC now owns 15,649 shares of the transportation company’s stock worth $321,000 after buying an additional 240 shares during the last quarter. Chicago Equity Partners LLC boosted its position in shares of Swift Transportation by 1.2% in the first quarter. Chicago Equity Partners LLC now owns 41,670 shares of the transportation company’s stock worth $856,000 after buying an additional 510 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its position in shares of Swift Transportation by 4.7% in the first quarter. O Shaughnessy Asset Management LLC now owns 14,116 shares of the transportation company’s stock worth $290,000 after buying an additional 640 shares during the last quarter. Institutional investors own 74.86% of the company’s stock.

Shares of Swift Transportation Company (NYSE:SWFT) traded up 0.14% during mid-day trading on Tuesday, reaching $27.68. The company’s stock had a trading volume of 56,007 shares. The company’s 50-day moving average is $26.08 and its 200 day moving average is $23.93. The firm has a market cap of $3.71 billion, a price-to-earnings ratio of 35.49 and a beta of 1.96. Swift Transportation Company has a 12 month low of $18.40 and a 12 month high of $27.68.

Swift Transportation (NYSE:SWFT) last announced its quarterly earnings data 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. Swift Transportation had a net margin of 2.99% and a return on equity of 22.23%. The company had revenue of $1,000 million during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the business posted $0.34 EPS. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, equities analysts anticipate that Swift Transportation Company will post $0.98 EPS for the current year.

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A number of brokerages have recently commented on SWFT. BidaskClub upgraded Swift Transportation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. 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 research note on Monday, July 10th. 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 research note 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 research note on Monday. Finally, Vetr upgraded Swift Transportation from a “buy” rating to a “strong-buy” rating and set a $27.80 price target for the company in a research note on Monday, May 1st. Eight investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $27.99.

In related news, insider Richard Stocking sold 126,722 shares of Swift Transportation stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $27.30, for a total transaction of $3,459,510.60. Following the completion of the sale, the insider now owns 133,902 shares in the company, valued at approximately $3,655,524.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Virginia Henkels sold 17,153 shares of Swift Transportation stock in a transaction dated 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 owns 16,294 shares of the company’s stock, valued at approximately $439,123.30. The disclosure for this sale can be found here. Insiders have sold a total of 193,251 shares of company stock valued at $5,203,839 in the last quarter. 44.90% of the stock is currently owned by company insiders.

About Swift Transportation

Swift Transportation Company is a multi-faceted transportation services company. As of December 31, 2016, the Company operated fleets of truckload equipment in North America from over 40 terminals near key freight centers and traffic lanes. The Company’ segments include Truckload, Dedicated, Swift Refrigerated and Intermodal.

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Institutional Ownership by Quarter for Swift Transportation (NYSE:SWFT)

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