DMC Group LLC Sells 264 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

DMC Group LLC reduced its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 13.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,770 shares of the transportation company’s stock after selling 264 shares during the quarter. DMC Group LLC’s holdings in Old Dominion Freight Line were worth $312,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Synergy Asset Management LLC purchased a new position in Old Dominion Freight Line during the 4th quarter worth $41,000. RPg Family Wealth Advisory LLC bought a new position in shares of Old Dominion Freight Line during the 3rd quarter worth $45,000. Brown Brothers Harriman & Co. increased its stake in shares of Old Dominion Freight Line by 398.1% during the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock valued at $53,000 after buying an additional 215 shares during the period. Quarry LP bought a new stake in shares of Old Dominion Freight Line in the second quarter valued at about $60,000. Finally, Versant Capital Management Inc lifted its stake in Old Dominion Freight Line by 45.5% in the fourth quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock worth $62,000 after acquiring an additional 110 shares during the period. 77.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ODFL has been the subject of several recent research reports. Barclays reduced their price target on shares of Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. TD Cowen lowered their target price on 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. Argus downgraded Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. The Goldman Sachs Group upped 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. Finally, JPMorgan Chase & Co. lifted 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 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, Old Dominion Freight Line presently has an average rating of “Hold” and an average price target of $202.44.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $185.84 on Thursday. The business has a fifty day moving average of $194.87 and a 200 day moving average of $198.10. Old Dominion Freight Line, Inc. has a 1 year low of $165.49 and a 1 year high of $233.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The firm has a market capitalization of $39.68 billion, a price-to-earnings ratio of 32.49, a price-to-earnings-growth ratio of 5.03 and a beta of 1.05.

Insider Transactions at Old Dominion Freight Line

In related news, Director Leo H. Suggs sold 3,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $225.44, for a total transaction of $676,320.00. Following the completion of the transaction, the director now directly owns 7,383 shares in the company, valued at $1,664,423.52. The trade was a 28.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company 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.