Covenant Logistics Group (NYSE:CVLG) Director Joey Hogan Sells 14,700 Shares

Covenant Logistics Group, Inc. (NYSE:CVLG) Director Joey Hogan sold 14,700 shares of the company’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $34.76, for a total transaction of $510,972.00. Following the sale, the director directly owned 104,094 shares in the company, valued at $3,618,307.44. This represents a 12.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Covenant Logistics Group Price Performance

Shares of Covenant Logistics Group stock opened at $34.81 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.08 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $873.14 million, a price-to-earnings ratio of 232.07 and a beta of 1.15. Covenant Logistics Group, Inc. has a 1-year low of $18.00 and a 1-year high of $35.91. The firm’s 50-day moving average price is $28.57 and its two-hundred day moving average price is $24.99.

Covenant Logistics Group (NYSE:CVLG) last released its quarterly earnings results 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 net margin of 0.42% and a return on equity of 9.37%. The company had revenue of $307.16 million for the quarter. On average, equities analysts predict that Covenant Logistics Group, Inc. will post 1.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Covenant Logistics Group

Large investors have recently bought and sold shares of the business. Quarry LP acquired a new position in Covenant Logistics Group in the third quarter valued at approximately $33,000. BNP Paribas Financial Markets lifted its holdings in Covenant Logistics Group by 45.3% in the second 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 during the period. Raymond James Financial Inc. acquired a new position in Covenant Logistics Group in the second quarter valued at approximately $39,000. Tower Research Capital LLC TRC lifted its holdings in Covenant Logistics Group by 127.1% in the second quarter. Tower Research Capital LLC TRC now owns 1,971 shares of the company’s stock valued at $48,000 after buying an additional 1,103 shares during the period. Finally, State of Alaska Department of Revenue lifted its holdings in Covenant Logistics Group by 204.6% in the fourth 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 during the period. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on CVLG shares. Wall Street Zen cut shares of Covenant Logistics Group from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Covenant Logistics Group in a research note on Friday, January 9th. TD Cowen increased their price target on shares of Covenant Logistics Group from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Monday. Finally, Zacks Research raised shares of Covenant Logistics Group from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus 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.