Synergy Asset Management LLC Makes New Investment in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Synergy Asset Management LLC purchased a new stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 230 shares of the transportation company’s stock, valued at approximately $41,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp boosted its holdings in shares of Old Dominion Freight Line by 3.8% in the 3rd quarter. State Street Corp now owns 7,633,531 shares of the transportation company’s stock valued at $1,516,324,000 after acquiring an additional 279,946 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Old Dominion Freight Line by 6.0% in the third quarter. Geode Capital Management LLC now owns 4,830,973 shares of the transportation company’s stock valued at $959,005,000 after purchasing an additional 275,236 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Old Dominion Freight Line by 109.5% in the third quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock worth $285,094,000 after buying an additional 750,073 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Old Dominion Freight Line by 4.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,329,826 shares of the transportation company’s stock worth $264,157,000 after acquiring an additional 57,301 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Old Dominion Freight Line by 7.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,203,666 shares of the transportation company’s stock valued at $239,096,000 after acquiring an additional 78,587 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL opened at $185.61 on Friday. The company has a market cap of $39.63 billion, a P/E ratio of 32.45, a P/E/G ratio of 4.96 and a beta of 1.05. Old Dominion Freight Line, Inc. has a twelve month low of $165.49 and a twelve month high of $233.26. The company’s 50-day moving average price is $193.53 and its 200-day moving average price is $197.95. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Stephens restated an “overweight” rating and issued a $240.00 price objective on shares of Old Dominion Freight Line in a research report on Wednesday, December 4th. Citigroup raised their price target on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Wells Fargo & Company decreased their price objective on shares of Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. Robert W. Baird dropped their target price on Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Finally, TD Cowen cut their price target on Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Old Dominion Freight Line has an average rating of “Hold” and a consensus price target of $202.44.

Insider Buying and Selling at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Leo H. Suggs sold 3,000 shares of the company’s stock in a transaction on Friday, November 8th. The stock was 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 directly owns 7,383 shares in the company, valued at $1,664,423.52. This represents a 28.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 9.90% of the stock is owned by insiders.

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.