Dynamic Technology Lab Private Ltd Sells 9,938 Shares of Covenant Logistics Group, Inc. $CVLG

Dynamic Technology Lab Private Ltd reduced its holdings in shares of Covenant Logistics Group, Inc. (NYSE:CVLG) by 52.8% in the second quarter, HoldingsChannel.com reports. The fund owned 8,875 shares of the company’s stock after selling 9,938 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Covenant Logistics Group were worth $214,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Empowered Funds LLC boosted its position in shares of Covenant Logistics Group by 0.4% during the 2nd quarter. Empowered Funds LLC now owns 173,532 shares of the company’s stock valued at $4,184,000 after purchasing an additional 744 shares in the last quarter. Creative Planning bought a new position in shares of Covenant Logistics Group during the 2nd quarter worth approximately $200,000. Geode Capital Management LLC grew its position in shares of Covenant Logistics Group by 0.9% during the 2nd quarter. Geode Capital Management LLC now owns 378,422 shares of the company’s stock worth $9,125,000 after buying an additional 3,504 shares during the period. Boston Partners increased its stake in shares of Covenant Logistics Group by 21.8% in the 2nd quarter. Boston Partners now owns 31,012 shares of the company’s stock valued at $748,000 after acquiring an additional 5,551 shares in the last quarter. Finally, CSM Advisors LLC acquired a new position in shares of Covenant Logistics Group during the 2nd quarter valued at $9,458,000. 83.72% of the stock is owned by institutional investors and hedge funds.

Covenant Logistics Group Stock Up 1.1%

Covenant Logistics Group stock opened at $19.97 on Thursday. The firm has a market capitalization of $500.19 million, a price-to-earnings ratio of 16.78 and a beta of 1.32. The firm’s fifty day moving average price is $20.57 and its two-hundred day moving average price is $22.67. Covenant Logistics Group, Inc. has a 1-year low of $17.46 and a 1-year high of $30.12. The company has a current ratio of 1.09, a quick ratio of 1.06 and a debt-to-equity ratio of 0.52.

Covenant Logistics Group (NYSE:CVLG) last posted its earnings results on Wednesday, October 22nd. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates 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.

Wall Street Analyst Weigh In

A number of research firms have commented on CVLG. Wall Street Zen cut shares of Covenant Logistics Group from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Zacks Research downgraded Covenant Logistics Group from a “hold” rating to a “strong sell” rating in a research note on Friday, October 10th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Covenant Logistics Group in a research report on Tuesday, October 14th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Covenant Logistics Group currently has a consensus rating of “Hold” and an average price target of $33.00.

Covenant Logistics Group Profile

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.