Wasatch Advisors Inc Lowers stake in Knight Transportation (KNX)

Knight Transportation (KNX) : Wasatch Advisors Inc reduced its stake in Knight Transportation by 0.09% during the most recent quarter end. The investment management company now holds a total of 6,597,367 shares of Knight Transportation which is valued at $185,254,065 after selling 5,906 shares in Knight Transportation , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Knight Transportation makes up approximately 2.70% of Wasatch Advisors Inc’s portfolio.

Other Hedge Funds, Including , Point72 Asset Management sold out all of its stake in KNX during the most recent quarter. The investment firm sold 503,900 shares of KNX which is valued $14,149,512.Alliancebernstein boosted its stake in KNX in the latest quarter, The investment management firm added 15,600 additional shares and now holds a total of 105,227 shares of Knight Transportation which is valued at $2,954,774.

Knight Transportation opened for trading at $28.26 and hit $28.49 on the upside on Thursday, eventually ending the session at $28.44, with a gain of 1.21% or 0.34 points. The heightened volatility saw the trading volume jump to 5,87,145 shares. Company has a market cap of $2,276 M.

On the company’s financial health, Knight Transportation reported $0.31 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.30. The company had revenue of $276.30 million for the quarter, compared to analysts expectations of $279.95 million. The company’s revenue was down -8.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.39 EPS.

Many Wall Street Analysts have commented on Knight Transportation. Knight Transportation was Downgraded by Macquarie to ” Neutral” on Jul 28, 2016. Knight Transportation was Downgraded by Credit Suisse to ” Neutral” on Jul 7, 2016. Knight Transportation was Downgraded by Avondale to ” Mkt Underperform” on Jun 23, 2016.

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 in two segments: Trucking and Logistics. Trucking segment is comprised of three operating units: dry van truckload (Dry Van); temperature-controlled truckload (Refrigerated) and drayage services (Drayage). Trucking segment provides truckload transportation including dedicated services of various products goods and materials. Logistics segment consists of two operating units: freight brokerage services (Brokerage) and rail intermodal (Intermodal). The Brokerage and Intermodal operating units of Logistics segment provide a multitude of shipment solutions including additional sources of truckload capacity and alternative transportation modes. As of 2014 Trucking segment operated an average of 4173 tractors.

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