Cushing Asset Management LP reduced its holdings in Hub Group Inc (NASDAQ:HUBG) by 24.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 190,987 shares of the transportation company’s stock after selling 61,034 shares during the quarter. Cushing Asset Management LP owned about 0.56% of Hub Group worth $9,148,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of HUBG. Public Employees Retirement System of Ohio grew its position in shares of Hub Group by 12.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 5,079 shares of the transportation company’s stock worth $195,000 after buying an additional 573 shares during the last quarter. Nationwide Fund Advisors grew its position in shares of Hub Group by 55.9% in the 3rd quarter. Nationwide Fund Advisors now owns 70,767 shares of the transportation company’s stock worth $3,039,000 after buying an additional 25,387 shares during the last quarter. First Trust Advisors LP grew its position in shares of Hub Group by 61.8% in the 3rd quarter. First Trust Advisors LP now owns 39,559 shares of the transportation company’s stock worth $1,699,000 after buying an additional 15,112 shares during the last quarter. Crossmark Global Holdings Inc. bought a new stake in shares of Hub Group in the 3rd quarter worth approximately $443,000. Finally, Cambiar Investors LLC grew its position in shares of Hub Group by 148.9% in the 3rd quarter. Cambiar Investors LLC now owns 312,097 shares of the transportation company’s stock worth $13,405,000 after buying an additional 186,696 shares during the last quarter. Hedge funds and other institutional investors own 93.63% of the company’s stock.
A number of equities research analysts have recently weighed in on the company. BidaskClub upgraded Hub Group from a “sell” rating to a “hold” rating in a research report on Tuesday. Zacks Investment Research upgraded Hub Group from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research report on Tuesday, January 16th. Loop Capital lifted their price objective on Hub Group to $52.00 and gave the stock a “hold” rating in a research report on Monday, February 12th. Stephens restated an “overweight” rating and set a $57.00 price target (up from $50.00) on shares of Hub Group in a research report on Thursday, December 14th. Finally, Morgan Stanley lifted their price target on Hub Group from $40.00 to $43.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company’s stock. Hub Group currently has an average rating of “Hold” and an average target price of $48.38.
Hub Group (NASDAQ:HUBG) last released its quarterly earnings results on Thursday, February 8th. The transportation company reported $0.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.22. Hub Group had a return on equity of 9.36% and a net margin of 3.35%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period in the previous year, the company posted $0.55 earnings per share. The firm’s revenue was up 18.8% on a year-over-year basis. research analysts predict that Hub Group Inc will post 2.33 EPS for the current fiscal year.
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Hub Group Profile
Hub Group, Inc is an asset-light freight transportation management company. The Company offers intermodal, truck brokerage and logistics services. It operates through two business segments: Mode and Hub. The Mode segment markets and operates its freight transportation services, consisting of intermodal, truck brokerage and logistics, primarily through agents entering into contractual arrangements with Mode Transportation, LLC (Mode LLC).
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