Louisiana State Employees Retirement System cut its stake in Hub Group Inc. (NASDAQ:HUBG) by 1.9% during the second quarter, Holdings Channel reports. The fund owned 15,200 shares of the company’s stock after selling 300 shares during the period. Louisiana State Employees Retirement System’s holdings in Hub Group were worth $583,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. increased its stake in Hub Group by 117.6% in the first quarter. BlackRock Inc. now owns 3,497 shares of the company’s stock worth $143,000 after buying an additional 1,890 shares during the period. BlackRock Japan Co. Ltd increased its stake in Hub Group by 390.5% in the first quarter. BlackRock Japan Co. Ltd now owns 3,816 shares of the company’s stock worth $156,000 after buying an additional 3,038 shares during the period. Bayesian Capital Management LP acquired a new stake in Hub Group during the first quarter worth $210,000. AMP Capital Investors Ltd acquired a new stake in Hub Group during the first quarter worth $297,000. Finally, Mariner Wealth Advisors LLC acquired a new stake in Hub Group during the first quarter worth $327,000. Institutional investors and hedge funds own 95.85% of the company’s stock.
Shares of Hub Group Inc. (NASDAQ:HUBG) traded down 0.33% during midday trading on Friday, hitting $39.39. 214,296 shares of the stock traded hands. The stock has a 50-day moving average of $40.74 and a 200-day moving average of $39.93. Hub Group Inc. has a 52-week low of $28.19 and a 52-week high of $43.51. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 17.19 and a beta of 1.09.
Hub Group (NASDAQ:HUBG) last issued its earnings results on Tuesday, July 26th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.03. Hub Group had a net margin of 2.34% and a return on equity of 13.34%. The company had revenue of $855.60 million for the quarter, compared to the consensus estimate of $881.40 million. During the same period in the previous year, the firm earned $0.51 earnings per share. Hub Group’s quarterly revenue was down 4.9% compared to the same quarter last year. On average, equities analysts predict that Hub Group Inc. will post $2.29 earnings per share for the current fiscal year.
HUBG has been the topic of several analyst reports. Zacks Investment Research downgraded shares of Hub Group from a “hold” rating to a “sell” rating in a report on Wednesday, June 29th. BMO Capital Markets reiterated a “hold” rating and set a $40.00 price target on shares of Hub Group in a report on Wednesday, July 27th. Cowen and Company initiated coverage on shares of Hub Group in a report on Wednesday, August 17th. They set a “market perform” rating and a $43.00 price target on the stock. Finally, Barclays PLC upped their price target on shares of Hub Group from $42.00 to $43.00 and gave the company an “underweight” rating in a report on Monday, September 12th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $40.00.
About Hub Group
Hub Group, Inc is an asset-light freight transportation management company. The Company offers intermodal, truck brokerage and logistics services. The Company 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 who enter into contractual arrangements with Mode LLC.