Brooklyn Investment Group Buys 92 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Brooklyn Investment Group increased its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 7.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,255 shares of the transportation company’s stock after buying an additional 92 shares during the period. Brooklyn Investment Group’s holdings in Old Dominion Freight Line were worth $221,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ODFL. Merit Financial Group LLC purchased a new position in shares of Old Dominion Freight Line in the 4th quarter valued at approximately $275,000. Avanza Fonder AB bought a new position in Old Dominion Freight Line in the fourth quarter worth $3,741,000. Wealthcare Advisory Partners LLC lifted its position in Old Dominion Freight Line by 0.9% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 19,058 shares of the transportation company’s stock valued at $3,362,000 after buying an additional 161 shares during the period. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Old Dominion Freight Line by 5.8% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 24,640 shares of the transportation company’s stock valued at $4,346,000 after buying an additional 1,361 shares in the last quarter. Finally, Outlook Wealth Advisors LLC increased its stake in shares of Old Dominion Freight Line by 30.9% in the 4th quarter. Outlook Wealth Advisors LLC now owns 2,096 shares of the transportation company’s stock worth $370,000 after acquiring an additional 495 shares in the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ODFL has been the topic of several research reports. Bank of America dropped their price objective on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating on the stock in a research note on Thursday. Wells Fargo & Company dropped their price target on Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. Barclays reduced their price objective on Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating for the company in a research report on Friday. Stifel Nicolaus dropped their target price on Old Dominion Freight Line from $178.00 to $176.00 and set a “hold” rating on the stock in a report on Wednesday. Finally, Citigroup raised their price target on Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Old Dominion Freight Line has a consensus rating of “Hold” and a consensus target price of $201.50.

Insider Activity at Old Dominion Freight Line

In related news, Director Greg C. Gantt sold 7,000 shares of Old Dominion Freight Line stock in a transaction on Monday, October 28th. The stock was sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the transaction, the director now directly owns 97,890 shares in the company, valued at approximately $19,584,852.30. The trade was a 6.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Leo H. Suggs sold 3,000 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $225.44, for a total value of $676,320.00. Following the completion of the sale, the director now owns 7,383 shares of the company’s stock, valued at approximately $1,664,423.52. The trade was a 28.89 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by company insiders.

Old Dominion Freight Line Price Performance

Shares of ODFL opened at $189.55 on Friday. The firm has a fifty day simple moving average of $199.69 and a two-hundred day simple moving average of $197.70. The firm has a market cap of $40.47 billion, a PE ratio of 33.14, a P/E/G ratio of 3.40 and a beta of 1.05. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.49 billion. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. Old Dominion Freight Line’s revenue was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.54 earnings per share. On average, equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.42 EPS for the current year.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.