Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Freightways ( (NZ:FRW) ) just unveiled an update.
Freightways Group Limited has attracted a new substantial shareholder, with Milford Asset Management Ltd disclosing it has begun a substantial holding in the company’s ordinary shares. Milford now holds 9,040,414 Freightways shares, representing 5.051% of the total 178,995,000 shares on issue, accumulated across several of its wholesale and managed funds.
The position reflects active portfolio adjustments by Milford, which reported on-market purchases of 252,572 shares and sales of 753,307 shares leading up to the substantial holding threshold. The entry of Milford as a more than 5% shareholder underscores ongoing institutional interest in Freightways and may be viewed as a vote of confidence in the company’s prospects by a prominent New Zealand fund manager.
The most recent analyst rating on (NZ:FRW) stock is a Buy with a N$13.87 price target. To see the full list of analyst forecasts on Freightways stock, see the NZ:FRW Stock Forecast page.
More about Freightways
Freightways Group Limited is a New Zealand-listed company operating in the freight and logistics sector, with its shares traded on the New Zealand Stock Exchange. The company’s ordinary shares are widely held by institutional and wholesale investors, reflecting its role as a significant player in the local capital markets and transport-related services space.
Average Trading Volume: 190,845
Technical Sentiment Signal: Buy
Current Market Cap: N$2.29B
For a thorough assessment of FRW stock, go to TipRanks’ Stock Analysis page.