Maverick Capital Ltd. Has $4.16 Million Position in Swift Transportation Co (SWFT)
Maverick Capital Ltd. increased its stake in Swift Transportation Co (NYSE:SWFT) by 20.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 156,780 shares of the transportation company’s stock after purchasing an additional 26,840 shares during the quarter. Maverick Capital Ltd. owned approximately 0.12% of Swift Transportation worth $4,155,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of SWFT. Legal & General Group Plc boosted its position in Swift Transportation by 1.6% during the 1st quarter. Legal & General Group Plc now owns 68,496 shares of the transportation company’s stock worth $1,406,000 after acquiring an additional 1,107 shares during the period. Renaissance Technologies LLC acquired a new stake in Swift Transportation during the 1st quarter worth about $38,449,000. Credit Suisse AG boosted its position in Swift Transportation by 0.6% during the 1st quarter. Credit Suisse AG now owns 448,753 shares of the transportation company’s stock worth $9,218,000 after acquiring an additional 2,719 shares during the period. Public Employees Retirement System of Ohio boosted its position in Swift Transportation by 1.4% during the 1st quarter. Public Employees Retirement System of Ohio now owns 113,244 shares of the transportation company’s stock worth $2,326,000 after acquiring an additional 1,543 shares during the period. Finally, OMERS ADMINISTRATION Corp acquired a new stake in Swift Transportation during the 2nd quarter worth about $11,594,000. 74.86% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Swift Transportation Co (NYSE:SWFT) traded up 0.68% on Thursday, hitting $29.49. The company had a trading volume of 7,296,089 shares. Swift Transportation Co has a 12-month low of $26.72 and a 12-month high of $41.31. The firm has a 50 day moving average of $36.11 and a 200-day moving average of $33.82. The firm has a market capitalization of $3.95 billion, a P/E ratio of 37.81 and a beta of 1.96.
Swift Transportation (NYSE:SWFT) last issued its quarterly earnings results on Monday, July 24th. The transportation company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.20 by $0.05. Swift Transportation had a return on equity of 15.10% and a net margin of 2.65%. The firm had revenue of $1,000.00 million during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the prior year, the firm posted $0.34 earnings per share. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. On average, equities analysts predict that Swift Transportation Co will post $1.41 EPS for the current year.
A number of equities research analysts have commented on SWFT shares. Zacks Investment Research upgraded Swift Transportation from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. Cowen and Company restated a “buy” rating and set a $25.00 price objective on shares of Swift Transportation in a research report on Monday, August 28th. Stephens upgraded Swift Transportation from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $26.00 to $30.00 in a research report on Monday, June 12th. ValuEngine upgraded Swift Transportation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, BidaskClub upgraded Swift Transportation from a “hold” rating to a “buy” rating in a research report on Thursday, September 7th. Seven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Swift Transportation currently has a consensus rating of “Buy” and an average price target of $28.59.
In related news, CFO Virginia Henkels sold 29,051 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $27.41, for a total transaction of $796,287.91. Following the completion of the transaction, the chief financial officer now directly owns 39,004 shares of the company’s stock, valued at $1,069,099.64. 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. Insiders have sold 251,141 shares of company stock valued at $6,959,714 over the last three months. Insiders own 44.90% of the company’s stock.
Swift Transportation Profile
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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