Covenant Logistics Group, Inc. (NYSE:CVLG - Get Free Report) CEO David Ray Parker sold 27,400 shares of the company's stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $29.34, for a total value of $803,916.00. Following the completion of the transaction, the chief executive officer directly owned 2,332,944 shares of the company's stock, valued at approximately $68,448,576.96. This represents a 1.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
David Ray Parker also recently made the following trade(s):
- On Tuesday, February 10th, David Ray Parker sold 70,000 shares of Covenant Logistics Group stock. The stock was sold at an average price of $29.05, for a total value of $2,033,500.00.
- On Monday, February 9th, David Ray Parker sold 56,000 shares of Covenant Logistics Group stock. The stock was sold at an average price of $28.66, for a total value of $1,604,960.00.
Covenant Logistics Group Stock Up 0.3%
Shares of NYSE:CVLG opened at $29.33 on Thursday. Covenant Logistics Group, Inc. has a 1 year low of $17.46 and a 1 year high of $30.19. The company has a market capitalization of $734.72 million, a PE ratio of 133.32 and a beta of 1.21. The business has a fifty day moving average price of $24.67 and a two-hundred day moving average price of $22.89. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.98.
Covenant Logistics Group (NYSE:CVLG - Get Free Report) last released its earnings results on Thursday, January 29th. The company reported $0.31 EPS for the quarter, missing analysts' consensus estimates of $0.32 by ($0.01). The business had revenue of $295.37 million for the quarter. Covenant Logistics Group had a return on equity of 9.57% and a net margin of 0.62%.
Institutional Trading of Covenant Logistics Group
Several hedge funds and other institutional investors have recently modified their holdings of CVLG. AlphaQuest LLC purchased a new stake in shares of Covenant Logistics Group during the 2nd quarter valued at approximately $380,000. American Century Companies Inc. grew its stake in Covenant Logistics Group by 10.1% in the 2nd quarter. American Century Companies Inc. now owns 529,304 shares of the company's stock valued at $12,762,000 after buying an additional 48,582 shares in the last quarter. Boston Partners raised its holdings in Covenant Logistics Group by 21.8% during 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 during the period. CSM Advisors LLC purchased a new stake in shares of Covenant Logistics Group during the second quarter worth $9,458,000. Finally, Ranger Investment Management L.P. purchased a new stake in shares of Covenant Logistics Group during the second quarter worth $4,450,000. Institutional investors own 83.72% of the company's stock.
Wall Street Analyst Weigh In
CVLG has been the subject of a number of research reports. Zacks Research downgraded shares of Covenant Logistics Group from a "hold" rating to a "strong sell" rating in a research report on Wednesday, January 21st. Weiss Ratings reiterated a "hold (c)" rating on shares of Covenant Logistics Group in a research note on Friday, January 9th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Covenant Logistics Group presently has an average rating of "Hold" and a consensus price target of $30.00.
Check Out Our Latest Analysis on CVLG
About Covenant Logistics Group
(
Get Free Report)
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.
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