Gateway Investment Advisers LLC Sells 1,326 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Gateway Investment Advisers LLC cut its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 1.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,388 shares of the transportation company’s stock after selling 1,326 shares during the period. Gateway Investment Advisers LLC’s holdings in Old Dominion Freight Line were worth $14,357,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Benjamin Edwards Inc. bought a new position in shares of Old Dominion Freight Line in the second quarter valued at approximately $25,000. RPg Family Wealth Advisory LLC purchased a new position in Old Dominion Freight Line in the third quarter worth $45,000. Brown Brothers Harriman & Co. grew its stake in Old Dominion Freight Line by 398.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock valued at $53,000 after purchasing an additional 215 shares during the period. Quarry LP purchased a new stake in shares of Old Dominion Freight Line during the 2nd quarter valued at $60,000. Finally, Versant Capital Management Inc raised its stake in shares of Old Dominion Freight Line by 45.5% during the 4th quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock worth $62,000 after purchasing an additional 110 shares during the period. 77.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. TD Cowen decreased their price objective on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a report on Thursday, October 24th. The Goldman Sachs Group increased their target price on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. BMO Capital Markets lowered their price target on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. Stephens reissued an “overweight” rating and set a $240.00 price objective on shares of Old Dominion Freight Line in a report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. boosted their target price on Old Dominion Freight Line from $186.00 to $205.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $202.06.

Insider Activity

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

Old Dominion Freight Line Stock Up 1.6 %

Shares of NASDAQ:ODFL opened at $189.92 on Friday. The firm has a fifty day moving average price of $201.08 and a two-hundred day moving average price of $197.57. The company has a market cap of $40.55 billion, a price-to-earnings ratio of 33.20, a PEG ratio of 3.40 and a beta of 1.05. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. Old Dominion Freight Line, Inc. has a one year low of $165.49 and a one year 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, beating the consensus estimate of $1.42 by $0.01. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter last year, the company earned $1.54 earnings per share. The firm’s quarterly revenue was down 3.0% on a year-over-year basis. Analysts anticipate that Old Dominion Freight Line, Inc. will post 5.42 EPS for the current fiscal year.

Old Dominion Freight Line 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.