Pyrrho Capital Management LP raised its stake in shares of Swift Transportation Co. (NYSE:SWFT) by 25.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,000 shares of the company’s stock after buying an additional 10,000 shares during the period. Swift Transportation comprises approximately 2.4% of Pyrrho Capital Management LP’s portfolio, making the stock its 18th largest position. Pyrrho Capital Management LP’s holdings in Swift Transportation were worth $771,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the stock. Anchor Bolt Capital LP acquired a new position in shares of Swift Transportation during the first quarter valued at about $21,223,000. Renaissance Technologies LLC acquired a new position in shares of Swift Transportation during the first quarter valued at about $14,041,000. HBK Investments L P raised its position in shares of Swift Transportation by 71.2% in the first quarter. HBK Investments L P now owns 426,562 shares of the company’s stock valued at $7,947,000 after buying an additional 177,362 shares in the last quarter. Pictet Asset Management Ltd. acquired a new position in shares of Swift Transportation during the first quarter valued at about $596,000. Finally, UBS Group AG raised its position in shares of Swift Transportation by 35.8% in the first quarter. UBS Group AG now owns 176,286 shares of the company’s stock valued at $3,284,000 after buying an additional 46,429 shares in the last quarter. Institutional investors and hedge funds own 74.70% of the company’s stock.
Shares of Swift Transportation Co. (NYSE:SWFT) traded up 1.54% on Monday, reaching $21.80. The company’s stock had a trading volume of 2,072,360 shares. The stock has a market cap of $2.91 billion, a P/E ratio of 16.58 and a beta of 2.23. The firm’s 50 day moving average is $19.93 and its 200-day moving average is $17.76. Swift Transportation Co. has a 52-week low of $11.74 and a 52-week high of $22.15.
Swift Transportation (NYSE:SWFT) last announced its earnings results on Thursday, July 21st. The company reported $0.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.03. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Swift Transportation had a return on equity of 32.87% and a net margin of 4.44%. During the same quarter in the previous year, the firm earned $0.37 earnings per share. On average, equities research analysts forecast that Swift Transportation Co. will post $1.35 EPS for the current year.
Several brokerages recently issued reports on SWFT. Barclays PLC boosted their price objective on Swift Transportation from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Monday, September 12th. Citigroup Inc. boosted their target price on Swift Transportation from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, September 12th. Robert W. Baird boosted their target price on Swift Transportation from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, September 12th. Bank of America Corp. restated a “buy” rating and issued a $24.00 target price on shares of Swift Transportation in a research note on Monday, September 12th. Finally, Zacks Investment Research upgraded Swift Transportation from a “sell” rating to a “hold” rating in a research note on Saturday, August 20th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $19.75.
In related news, Director Richard H. Dozer sold 2,282 shares of Swift Transportation stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $18.63, for a total transaction of $42,513.66. Following the transaction, the director now owns 17,405 shares of the company’s stock, valued at $324,255.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jose A. Cardenas sold 2,000 shares of Swift Transportation stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $19.60, for a total value of $39,200.00. Following the transaction, the director now directly owns 11,275 shares in the company, valued at approximately $220,990. The disclosure for this sale can be found here. Corporate insiders own 44.90% of the company’s stock.
About Swift Transportation
Swift Transportation Company (Swift Transportation Co) is a multi-faceted transportation services company, which operates the fleet of truckload equipment in North America from over 40 terminals near key freight centers and traffic lanes. The Company operates in four segments: Truckload, Dedicated, Swift Refrigerated and Intermodal.
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