Convergence Investment Partners LLC Acquires 4,228 Shares of Hub Group Inc (NASDAQ:HUBG)

Convergence Investment Partners LLC raised its holdings in Hub Group Inc (NASDAQ:HUBG) by 46.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,302 shares of the transportation company’s stock after acquiring an additional 4,228 shares during the quarter. Convergence Investment Partners LLC’s holdings in Hub Group were worth $637,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. State Street Corp lifted its stake in shares of Hub Group by 7.8% during the 1st quarter. State Street Corp now owns 1,164,450 shares of the transportation company’s stock worth $52,948,000 after purchasing an additional 84,290 shares during the last quarter. Macquarie Group Ltd. lifted its stake in shares of Hub Group by 14.0% during the 4th quarter. Macquarie Group Ltd. now owns 913,558 shares of the transportation company’s stock worth $46,856,000 after purchasing an additional 112,300 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in shares of Hub Group by 6.6% during the 1st quarter. Nuveen Asset Management LLC now owns 765,593 shares of the transportation company’s stock worth $34,811,000 after purchasing an additional 47,567 shares during the last quarter. Norges Bank purchased a new stake in shares of Hub Group during the 4th quarter worth $35,885,000. Finally, Geode Capital Management LLC lifted its stake in shares of Hub Group by 6.6% during the 1st quarter. Geode Capital Management LLC now owns 487,088 shares of the transportation company’s stock worth $22,147,000 after purchasing an additional 30,185 shares during the last quarter. 90.66% of the stock is currently owned by institutional investors.

Shares of NASDAQ:HUBG traded up $2.94 during trading on Friday, reaching $52.90. The stock had a trading volume of 585,877 shares, compared to its average volume of 238,462. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.49 and a current ratio of 1.49. The business has a fifty day moving average price of $49.11 and a 200-day moving average price of $48.39. The stock has a market cap of $1.81 billion, a PE ratio of 21.95 and a beta of 1.10. Hub Group Inc has a 1-year low of $36.51 and a 1-year high of $60.42.

Hub Group (NASDAQ:HUBG) last issued its quarterly earnings results on Thursday, July 30th. The transportation company reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.37. The firm had revenue of $779.24 million for the quarter, compared to analyst estimates of $780.00 million. Hub Group had a return on equity of 8.41% and a net margin of 2.34%. Sell-side analysts expect that Hub Group Inc will post 1.89 earnings per share for the current year.

HUBG has been the subject of a number of analyst reports. Stephens upped their price objective on Hub Group from $54.00 to $57.00 in a research note on Thursday, July 9th. BidaskClub cut Hub Group from a “hold” rating to a “sell” rating in a research note on Thursday, April 23rd. Cowen increased their price target on Hub Group from $53.00 to $62.00 and gave the company an “outperform” rating in a research note on Friday. Zacks Investment Research upgraded Hub Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 8th. Finally, Morgan Stanley reduced their price objective on Hub Group from $42.00 to $40.00 and set an “equal weight” rating for the company in a research note on Monday, May 4th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. Hub Group has an average rating of “Hold” and an average price target of $52.43.

Hub Group Profile

Hub Group, Inc, an asset-light freight transportation management company, provides intermodal, trucking, truck brokerage, and other logistics services in North America. Its intermodal services include arranging for the movement of its customers' freight in containers and trailers over long distances.

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Institutional Ownership by Quarter for Hub Group (NASDAQ:HUBG)

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