SG Americas Securities LLC Raises Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

SG Americas Securities LLC boosted its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 5.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 83,890 shares of the transportation company’s stock after purchasing an additional 4,076 shares during the period. SG Americas Securities LLC’s holdings in Old Dominion Freight Line were worth $14,798,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of ODFL. RPg Family Wealth Advisory LLC purchased a new stake in Old Dominion Freight Line in the third quarter worth approximately $45,000. Brown Brothers Harriman & Co. boosted its stake in Old Dominion Freight Line by 398.1% in the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock worth $53,000 after buying an additional 215 shares in the last quarter. Quarry LP purchased a new stake in shares of Old Dominion Freight Line during the second quarter valued at approximately $60,000. Versant Capital Management Inc boosted its stake in shares of Old Dominion Freight Line by 45.5% during the fourth quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock valued at $62,000 after purchasing an additional 110 shares during the period. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Old Dominion Freight Line during the third quarter valued at approximately $64,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Insiders Place Their Bets

In other news, Director Greg C. Gantt sold 7,000 shares of the firm’s 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 completion of the transaction, the director now directly owns 97,890 shares in the company, valued at $19,584,852.30. This trade represents a 6.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Leo H. Suggs sold 3,000 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $225.44, for a total value of $676,320.00. Following the transaction, the director now owns 7,383 shares of the company’s stock, valued at $1,664,423.52. The trade was a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.90% of the stock is owned by corporate insiders.

Old Dominion Freight Line Price Performance

ODFL opened at $191.54 on Friday. The stock has a fifty day simple moving average of $196.75 and a two-hundred day simple moving average of $197.81. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The company has a market cap of $40.89 billion, a price-to-earnings ratio of 33.49, a price-to-earnings-growth ratio of 5.07 and a beta of 1.05. Old Dominion Freight Line, Inc. has a 12-month low of $165.49 and a 12-month high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. The business had revenue of $1.47 billion during 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%. The firm’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.54 earnings per share. Research analysts predict that Old Dominion Freight Line, Inc. will post 5.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ODFL shares. Argus lowered Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Stifel Nicolaus increased their price objective on Old Dominion Freight Line from $176.00 to $193.00 and gave the company a “hold” rating in a research note on Thursday. Bank of America dropped their price objective on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Evercore ISI dropped their price objective on Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating for the company in a research note on Thursday, October 3rd. Finally, Susquehanna reissued a “neutral” rating and set a $195.00 price objective (down previously from $218.00) on shares of Old Dominion Freight Line in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Old Dominion Freight Line currently has an average rating of “Hold” and an average price target of $202.44.

About Old Dominion Freight Line

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.