Inspire Investing LLC Decreases Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Inspire Investing LLC cut its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 25,173 shares of the transportation company’s stock after selling 744 shares during the quarter. Inspire Investing LLC’s holdings in Old Dominion Freight Line were worth $4,441,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Traynor Capital Management Inc. raised its stake in Old Dominion Freight Line by 5.8% in the fourth quarter. Traynor Capital Management Inc. now owns 6,421 shares of the transportation company’s stock valued at $1,133,000 after buying an additional 351 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in Old Dominion Freight Line by 7.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 86,701 shares of the transportation company’s stock valued at $15,294,000 after buying an additional 6,046 shares during the last quarter. SG Americas Securities LLC raised its stake in Old Dominion Freight Line by 5.1% in the fourth quarter. SG Americas Securities LLC now owns 83,890 shares of the transportation company’s stock valued at $14,798,000 after buying an additional 4,076 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in Old Dominion Freight Line by 7.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 61,059 shares of the transportation company’s stock valued at $10,771,000 after buying an additional 4,265 shares during the last quarter. Finally, Simon Quick Advisors LLC raised its stake in Old Dominion Freight Line by 19.3% in the fourth quarter. Simon Quick Advisors LLC now owns 1,521 shares of the transportation company’s stock valued at $268,000 after buying an additional 246 shares during the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ODFL shares. BMO Capital Markets reduced their price objective on Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. TD Cowen reduced their price objective on Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a research note on Thursday, October 24th. Robert W. Baird reduced their price objective on Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Citigroup raised their price objective on Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Finally, The Goldman Sachs Group raised their price objective on Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $201.50.

Old Dominion Freight Line Stock Down 0.9 %

Shares of ODFL opened at $188.79 on Thursday. 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 12 month low of $165.49 and a 12 month high of $233.26. The stock’s 50 day moving average is $197.39 and its two-hundred day moving average is $197.86. The firm has a market cap of $40.31 billion, a P/E ratio of 33.01, a PEG ratio of 5.07 and a beta of 1.05.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.42 by $0.01. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates 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 quarterly revenue was down 3.0% compared to the same quarter last year. During the same period last year, the company earned $1.54 earnings per share. Analysts predict that Old Dominion Freight Line, Inc. will post 5.42 earnings per share for the current fiscal year.

Insider Transactions at Old Dominion Freight Line

In other news, Director Greg C. Gantt sold 7,000 shares of Old Dominion Freight Line stock in a transaction that occurred on 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 $19,584,852.30. The trade was a 6.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Leo H. Suggs sold 3,000 shares of Old Dominion Freight Line stock in a transaction that occurred 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 completion of the sale, the director now directly owns 7,383 shares in the company, valued at $1,664,423.52. This represents a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.90% of the company’s stock.

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.