Convergence Investment Partners LLC Boosts Stock Position in Hub Group Inc (NASDAQ:HUBG)

Convergence Investment Partners LLC grew its stake in shares of Hub Group Inc (NASDAQ:HUBG) by 46.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,302 shares of the transportation company’s stock after buying an additional 4,228 shares during the period. Convergence Investment Partners LLC’s holdings in Hub Group were worth $637,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of HUBG. Wellington Management Group LLP acquired a new stake in Hub Group during the first quarter worth $4,853,000. Cambiar Investors LLC bought a new position in Hub Group during the first quarter valued at approximately $1,872,000. Goldman Sachs Group Inc. grew its position in Hub Group by 29.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 183,389 shares of the transportation company’s stock valued at $9,407,000 after acquiring an additional 42,013 shares during the last quarter. AQR Capital Management LLC grew its position in Hub Group by 232.5% during the first quarter. AQR Capital Management LLC now owns 39,286 shares of the transportation company’s stock valued at $1,786,000 after acquiring an additional 27,469 shares during the last quarter. Finally, Exchange Traded Concepts LLC bought a new position in Hub Group during the second quarter valued at approximately $328,000. 90.66% of the stock is currently owned by institutional investors.

A number of brokerages have commented on HUBG. Zacks Investment Research upgraded shares of Hub Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 8th. BidaskClub cut shares of Hub Group from a “hold” rating to a “sell” rating in a report on Thursday, April 23rd. Loop Capital cut shares of Hub Group from a “buy” rating to a “hold” rating and cut their target price for the stock from $58.00 to $52.00 in a report on Friday, May 1st. Morgan Stanley cut their target price on shares of Hub Group from $42.00 to $40.00 and set an “equal weight” rating on the stock in a report on Monday, May 4th. Finally, Cowen raised their target price on shares of Hub Group from $53.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. Hub Group presently has an average rating of “Hold” and a consensus price target of $52.43.

NASDAQ:HUBG traded up $2.94 during trading hours on Friday, hitting $52.90. The company had a trading volume of 585,877 shares, compared to its average volume of 238,462. The company has a market capitalization of $1.81 billion, a PE ratio of 21.95 and a beta of 1.10. The stock has a 50-day moving average price of $49.11 and a 200 day moving average price of $48.39. Hub Group Inc has a 52 week low of $36.51 and a 52 week high of $60.42. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.49 and a quick ratio of 1.49.

Hub Group (NASDAQ:HUBG) last released its quarterly earnings results on Thursday, July 30th. The transportation company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.37. The business had revenue of $779.24 million for the quarter, compared to analysts’ expectations of $780.00 million. Hub Group had a net margin of 2.34% and a return on equity of 8.41%. Analysts anticipate that Hub Group Inc will post 1.89 EPS for the current fiscal year.

Hub Group Company Profile

Hub Group, Inc, an asset-light freight transportation management company, provides intermodal, trucking, truck brokerage, and other logistics services in North America. Its intermodal services include arranging for the movement of its customers' freight in containers and trailers over long distances.

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Institutional Ownership by Quarter for Hub Group (NASDAQ:HUBG)

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