Foundry Partners LLC Grows Position in Covenant Logistics Group, Inc. (NASDAQ:CVLG)

Foundry Partners LLC boosted its holdings in Covenant Logistics Group, Inc. (NASDAQ:CVLG) by 10.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 216,080 shares of the company’s stock after buying an additional 19,777 shares during the quarter. Foundry Partners LLC’s holdings in Covenant Logistics Group were worth $11,779,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of CVLG. Townsquare Capital LLC lifted its position in Covenant Logistics Group by 7.8% during the third quarter. Townsquare Capital LLC now owns 4,921 shares of the company’s stock valued at $260,000 after purchasing an additional 357 shares during the period. Huntington National Bank lifted its holdings in shares of Covenant Logistics Group by 91.5% during the 4th quarter. Huntington National Bank now owns 963 shares of the company’s stock valued at $52,000 after buying an additional 460 shares during the period. Private Advisor Group LLC grew its holdings in shares of Covenant Logistics Group by 11.8% in the fourth quarter. Private Advisor Group LLC now owns 4,567 shares of the company’s stock worth $249,000 after acquiring an additional 481 shares during the period. SG Americas Securities LLC increased its position in Covenant Logistics Group by 34.0% during the fourth quarter. SG Americas Securities LLC now owns 4,715 shares of the company’s stock valued at $257,000 after acquiring an additional 1,196 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in Covenant Logistics Group in the third quarter valued at about $64,000. Institutional investors own 83.72% of the company’s stock.

Covenant Logistics Group Trading Down 11.2 %

Shares of CVLG stock opened at $20.54 on Friday. Covenant Logistics Group, Inc. has a 1 year low of $20.50 and a 1 year high of $30.77. The firm has a fifty day moving average price of $25.07 and a 200-day moving average price of $26.77. The company has a market cap of $545.28 million, a price-to-earnings ratio of 15.86 and a beta of 1.45. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 1.07.

Covenant Logistics Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were paid a $0.07 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.28 annualized dividend and a dividend yield of 1.36%. This is an increase from Covenant Logistics Group’s previous quarterly dividend of $0.06. Covenant Logistics Group’s dividend payout ratio (DPR) is 21.71%.

Wall Street Analysts Forecast Growth

Separately, Stephens reaffirmed an “overweight” rating and set a $36.00 price target on shares of Covenant Logistics Group in a research report on Friday, January 24th.

Insider Transactions at Covenant Logistics Group

In other Covenant Logistics Group news, CAO Matisse Long sold 2,114 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $28.95, for a total transaction of $61,200.30. Following the sale, the chief accounting officer now owns 15,434 shares in the company, valued at approximately $446,814.30. This trade represents a 12.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 36.50% of the company’s stock.

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.