Covenant Logistics Group (NYSE:CVLG) EVP Sells $141,284.00 in Stock

Covenant Logistics Group, Inc. (NYSE:CVLG) EVP Joey Ballard sold 3,718 shares of Covenant Logistics Group stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $38.00, for a total transaction of $141,284.00. Following the completion of the sale, the executive vice president directly owned 17,149 shares of the company’s stock, valued at approximately $651,662. The trade was a 17.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Joey Ballard also recently made the following trade(s):

• On Friday, May 22nd, Joey Ballard sold 4,282 shares of Covenant Logistics Group stock. The stock was sold at an average price of $37.40, for a total transaction of $160,146.80.

Covenant Logistics Group Stock Up 2.2%

Shares of Covenant Logistics Group stock traded up $0.85 during trading hours on Wednesday, reaching $39.70. The company’s stock had a trading volume of 337,432 shares, compared to its average volume of 171,586. The company has a market capitalization of $999.25 million, a P/E ratio of 264.67 and a beta of 1.28. The stock’s fifty day simple moving average is $30.76 and its two-hundred day simple moving average is $26.63. Covenant Logistics Group, Inc. has a one year low of $18.00 and a one year high of $39.79. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.01 and a current ratio of 1.04.

Covenant Logistics Group (NYSE:CVLG) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.09). Covenant Logistics Group had a return on equity of 9.41% and a net margin of 0.42%.The company had revenue of $307.16 million during the quarter. On average, research analysts forecast that Covenant Logistics Group, Inc. will post 1.6 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP purchased a new position in shares of Covenant Logistics Group in the third quarter worth about $33,000. BNP Paribas Financial Markets lifted its stake in shares of Covenant Logistics Group by 45.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,562 shares of the company’s stock valued at $38,000 after buying an additional 487 shares in the last quarter. Raymond James Financial Inc. bought a new position in Covenant Logistics Group in the 2nd quarter worth approximately $39,000. Tower Research Capital LLC TRC boosted its holdings in Covenant Logistics Group by 127.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,971 shares of the company’s stock worth $48,000 after buying an additional 1,103 shares during the period. Finally, State of Alaska Department of Revenue grew its stake in Covenant Logistics Group by 204.6% in the 4th quarter. State of Alaska Department of Revenue now owns 3,515 shares of the company’s stock valued at $77,000 after buying an additional 2,361 shares in the last quarter. Institutional investors own 83.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CVLG. TD Cowen boosted their price target on shares of Covenant Logistics Group from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Wall Street Zen cut shares of Covenant Logistics Group from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. Finally, Zacks Research raised Covenant Logistics Group from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Covenant Logistics Group currently has an average rating of “Hold” and an average price target of $35.00.

Covenant Logistics Group Company Profile

Covenant Logistics Group provides a comprehensive suite of transportation and logistics services across North America. The company’s core offerings include less?than?truckload (LTL) and full truckload hauling, temperature?controlled freight, intermodal transportation and freight brokerage. Covenant also delivers specialized solutions such as expedited “hot?shot” deliveries, cross?border shipping to Canada and Mexico, and dedicated contract carriage for time?sensitive or high?value shipments.

With a network of service centers, terminals and partner carriers strategically located throughout the United States, Covenant supports diverse industries including food and beverage, automotive, retail, energy and manufacturing.