Wallace Capital Management Inc. bought a new stake in Heartland Express, Inc. (NASDAQ:HTLD – Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 965,007 shares of the transportation company’s stock, valued at approximately $14,687,000. Heartland Express comprises 1.6% of Wallace Capital Management Inc.’s investment portfolio, making the stock its 17th biggest position.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Punch & Associates Investment Management Inc. acquired a new stake in Heartland Express during the fourth quarter worth $2,619,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Heartland Express by 34.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 588,810 shares of the transportation company’s stock valued at $6,124,000 after purchasing an additional 151,589 shares during the last quarter. Intech Investment Management LLC lifted its stake in shares of Heartland Express by 285.2% in the 4th quarter. Intech Investment Management LLC now owns 78,916 shares of the transportation company’s stock valued at $713,000 after purchasing an additional 58,428 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Heartland Express by 5.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,873,653 shares of the transportation company’s stock worth $40,285,000 after purchasing an additional 201,151 shares during the period. Finally, Dean Capital Management grew its holdings in shares of Heartland Express by 78.3% during the 1st quarter. Dean Capital Management now owns 244,083 shares of the transportation company’s stock worth $2,538,000 after purchasing an additional 107,174 shares during the period. Institutional investors and hedge funds own 53.45% of the company’s stock.
Analysts Set New Price Targets
Several analysts recently issued reports on HTLD shares. Wall Street Zen upgraded shares of Heartland Express from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Zacks Research upgraded shares of Heartland Express from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Heartland Express in a research note on Wednesday, June 24th. JPMorgan Chase & Co. upped their price objective on shares of Heartland Express from $11.00 to $12.00 and gave the stock an “underweight” rating in a report on Friday, July 31st. Finally, Barclays lowered their price objective on shares of Heartland Express from $14.00 to $12.00 and set an “underweight” rating for the company in a research report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $13.00.
Insider Transactions at Heartland Express
In other news, Director David Paul Millis sold 31,402 shares of Heartland Express stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $15.67, for a total value of $492,069.34. Following the completion of the transaction, the director owned 28,387 shares in the company, valued at approximately $444,824.29. This trade represents a 52.52% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 41.60% of the stock is owned by corporate insiders.
Heartland Express Stock Up 1.5%
Heartland Express stock opened at $12.47 on Thursday. Heartland Express, Inc. has a twelve month low of $6.99 and a twelve month high of $16.64. The stock’s fifty day simple moving average is $13.85 and its 200-day simple moving average is $12.79. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $964.31 million, a P/E ratio of -44.53 and a beta of 1.33.
Heartland Express (NASDAQ:HTLD – Get Free Report) last released its earnings results on Wednesday, August 5th. The transportation company reported $0.14 earnings per share (EPS) for the quarter. Heartland Express had a negative return on equity of 0.92% and a negative net margin of 2.98%.The firm had revenue of $152.38 million during the quarter, compared to analyst estimates of $185.08 million. During the same period last year, the business posted ($0.14) earnings per share. Heartland Express’s revenue was down 12.5% compared to the same quarter last year. As a group, equities analysts expect that Heartland Express, Inc. will post 0.19 earnings per share for the current fiscal year.
About Heartland Express
Heartland Express, Inc (NASDAQ: HTLD) is a publicly traded truckload carrier headquartered in North Liberty, Iowa. The company specializes in full truckload transportation, offering dry-van services that connect shippers with customers across the continental United States. Its primary focus is on over-the-road freight movements, serving industries such as manufacturing, retail, and consumer goods.
Founded in 1978 as Heartland Motor Freight, the company has grown from a regional carrier into one of the larger U.S.
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