JPMorgan Chase & Co. lowered its stake in Hub Group, Inc. (NASDAQ:HUBG – Get Rating) by 4.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 487,121 shares of the transportation company's stock after selling 21,445 shares during the quarter. JPMorgan Chase & Co. owned about 1.40% of Hub Group worth $37,610,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Point72 Asset Management L.P. purchased a new stake in shares of Hub Group during the 4th quarter valued at about $11,137,000. State Street Corp raised its position in Hub Group by 8.9% in the 4th quarter. State Street Corp now owns 1,387,651 shares of the transportation company's stock worth $116,896,000 after purchasing an additional 113,171 shares during the period. Artemis Investment Management LLP purchased a new stake in Hub Group in the 1st quarter worth about $7,801,000. Victory Capital Management Inc. raised its position in Hub Group by 7.1% in the 1st quarter. Victory Capital Management Inc. now owns 1,402,005 shares of the transportation company's stock worth $108,019,000 after purchasing an additional 92,516 shares during the period. Finally, Geode Capital Management LLC raised its position in Hub Group by 7.9% in the 4th quarter. Geode Capital Management LLC now owns 610,163 shares of the transportation company's stock worth $51,400,000 after purchasing an additional 44,588 shares during the period. Hedge funds and other institutional investors own 94.21% of the company's stock.
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Analyst Ratings Changes
HUBG has been the topic of a number of recent analyst reports. Benchmark initiated coverage on shares of Hub Group in a research report on Thursday, June 16th. They issued a "buy" rating and a $90.00 price objective on the stock. Cowen increased their price objective on shares of Hub Group from $109.00 to $119.00 in a research report on Thursday, August 4th. Morgan Stanley upped their target price on shares of Hub Group from $85.00 to $92.00 and gave the stock an "equal weight" rating in a research note on Monday, August 15th. Evercore ISI upped their target price on shares of Hub Group to $108.00 in a research note on Tuesday, August 9th. Finally, Susquehanna Bancshares upped their target price on shares of Hub Group from $115.00 to $117.00 and gave the stock a "positive" rating in a research note on Wednesday, August 10th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $97.44.
Insider Activity at Hub Group
In other news, Director Gary Yablon bought 5,000 shares of the firm's stock in a transaction that occurred on Thursday, August 11th. The stock was bought at an average price of $85.60 per share, with a total value of $428,000.00. Following the completion of the transaction, the director now directly owns 7,132 shares of the company's stock, valued at approximately $610,499.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Gary Yablon bought 5,000 shares of the firm's stock in a transaction that occurred on Thursday, August 11th. The stock was bought at an average price of $85.60 per share, with a total value of $428,000.00. Following the completion of the transaction, the director now directly owns 7,132 shares of the company's stock, valued at approximately $610,499.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David P. Yeager bought 141,561 shares of the firm's stock in a transaction that occurred on Tuesday, August 9th. The shares were purchased at an average cost of $104.99 per share, with a total value of $14,862,489.39. Following the transaction, the chief executive officer now directly owns 141,561 shares of the company's stock, valued at $14,862,489.39. The disclosure for this purchase can be found here. Insiders bought 174,900 shares of company stock valued at $18,265,801 over the last 90 days. Insiders own 3.83% of the company's stock.
Hub Group Price Performance
NASDAQ HUBG opened at $78.83 on Friday. Hub Group, Inc. has a 52-week low of $60.81 and a 52-week high of $89.61. The firm's 50 day moving average price is $76.82 and its 200-day moving average price is $74.95. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.56 and a current ratio of 1.56. The company has a market cap of $2.73 billion, a PE ratio of 8.41 and a beta of 0.91.
About Hub Group
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Hub Group, Inc, a supply chain solutions provider, offers transportation and logistics management services in North America. The company's transportation services include intermodal, truckload, less-than-truckload, flatbed, temperature-controlled, and dedicated and regional trucking, as well as final mile, railcar, small parcel, and international transportation.
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