Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Acquired by Traynor Capital Management Inc.

Traynor Capital Management Inc. boosted its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 5.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,421 shares of the transportation company’s stock after purchasing an additional 351 shares during the period. Traynor Capital Management Inc.’s holdings in Old Dominion Freight Line were worth $1,133,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. RPg Family Wealth Advisory LLC purchased a new stake in shares of Old Dominion Freight Line during the 3rd quarter valued at about $45,000. Brown Brothers Harriman & Co. raised 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 purchasing an additional 215 shares during the period. Ashton Thomas Securities LLC acquired a new position in shares of Old Dominion Freight Line during the third quarter worth $64,000. Northwest Investment Counselors LLC purchased a new position in shares of Old Dominion Freight Line in the third quarter valued at $67,000. Finally, Quarry LP acquired a new stake in Old Dominion Freight Line during the 2nd quarter valued at $60,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Down 0.9 %

Old Dominion Freight Line stock opened at $188.79 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current 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. The company has a 50-day simple moving average of $197.39 and a 200-day simple moving average of $197.86. The firm has a market capitalization of $40.31 billion, a P/E ratio of 33.01, a P/E/G ratio of 5.07 and a beta of 1.05.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.42 by $0.01. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. Old Dominion Freight Line’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.54 EPS. As a group, equities analysts expect that Old Dominion Freight Line, Inc. will post 5.42 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on ODFL. Susquehanna reiterated a “neutral” rating and issued a $195.00 price objective (down previously from $218.00) on shares of Old Dominion Freight Line in a report on Tuesday, January 7th. Robert W. Baird reduced their price target on Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Evercore ISI dropped their price objective on Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating on the stock in a report on Thursday, October 3rd. BMO Capital Markets cut their target price on Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. Finally, Jefferies Financial Group raised their price target on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a “hold” rating in a research report on Friday, January 10th. One 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 company. Based on data from MarketBeat, Old Dominion Freight Line has an average rating of “Hold” and an average target price of $201.50.

Insider Buying and Selling

In related news, Director Leo H. Suggs sold 3,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were 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 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 document filed with the SEC, which is available through the SEC website. Also, Director Greg C. Gantt sold 7,000 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the transaction, the director now directly owns 97,890 shares in the company, valued at approximately $19,584,852.30. The trade was 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 Company 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.