Covenant Logistics Group, Inc. $CVLG Shares Sold by EMC Capital Management

EMC Capital Management cut its stake in Covenant Logistics Group, Inc. (NYSE:CVLG) by 78.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,374 shares of the company’s stock after selling 5,074 shares during the period. EMC Capital Management’s holdings in Covenant Logistics Group were worth $33,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Brandywine Global Investment Management LLC increased its stake in shares of Covenant Logistics Group by 93.4% in the 1st quarter. Brandywine Global Investment Management LLC now owns 55,838 shares of the company’s stock worth $1,240,000 after acquiring an additional 26,962 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Covenant Logistics Group by 90.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 168,936 shares of the company’s stock valued at $3,750,000 after purchasing an additional 80,151 shares during the period. Strs Ohio purchased a new stake in shares of Covenant Logistics Group in the first quarter valued at about $500,000. New York State Common Retirement Fund increased its position in Covenant Logistics Group by 59.1% during the first quarter. New York State Common Retirement Fund now owns 5,840 shares of the company’s stock worth $130,000 after purchasing an additional 2,170 shares during the last quarter. Finally, Petrus Trust Company LTA raised its stake in Covenant Logistics Group by 100.0% during the first quarter. Petrus Trust Company LTA now owns 21,300 shares of the company’s stock worth $473,000 after purchasing an additional 10,650 shares during the period. Institutional investors and hedge funds own 83.72% of the company’s stock.

Covenant Logistics Group Price Performance

Covenant Logistics Group stock opened at $18.05 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.09 and a debt-to-equity ratio of 0.52. Covenant Logistics Group, Inc. has a 52-week low of $17.46 and a 52-week high of $30.12. The firm has a market cap of $452.10 million, a PE ratio of 15.17 and a beta of 1.32. The company’s 50 day moving average is $20.86 and its two-hundred day moving average is $22.69.

Covenant Logistics Group (NYSE:CVLG) last posted its quarterly earnings results on Wednesday, October 22nd. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.01). Covenant Logistics Group had a return on equity of 10.77% and a net margin of 2.81%.The business had revenue of $268.84 million during the quarter.

Analyst Upgrades and Downgrades

CVLG has been the subject of several analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Covenant Logistics Group in a research note on Tuesday, October 14th. Wall Street Zen lowered Covenant Logistics Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. Finally, Zacks Research cut Covenant Logistics Group from a “hold” rating to a “strong sell” rating in a research note on Friday, October 10th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Covenant Logistics Group has a consensus rating of “Hold” and an average target price of $33.00.

About Covenant Logistics Group

Covenant Logistics Group, Inc, together with its subsidiaries, provides transportation and logistics services in the United States. It operates through four segments: Expedited, Dedicated, Managed Freight, and Warehousing. The Expedited segment primarily provides truckload services with high service freight and delivery standards, such as 1,000 miles in 22 hours or 15-minute delivery windows.