Key Points
- CEO David Ray Parker sold a total of 288,400 shares of Covenant Logistics (Feb. 9–17) for roughly $8.42 million, and after the Feb. 13 transaction he still directly owned 2,297,944 shares (valued at about $65.4M), a ~0.65% ownership decrease.
- CVLG shares traded around $29.63 (1‑year range $17.46–$30.18) with a market cap of about $742M and a P/E of 134.7, and analysts hold a consensus "Hold" rating with an average $30 price target.
Covenant Logistics Group, Inc. (NYSE:CVLG - Get Free Report) CEO David Ray Parker sold 15,000 shares of the firm's stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $28.46, for a total transaction of $426,900.00. Following the completion of the transaction, the chief executive officer directly owned 2,297,944 shares in the company, valued at $65,399,486.24. This represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.
David Ray Parker also recently made the following trade(s):
- On Tuesday, February 17th, David Ray Parker sold 100,000 shares of Covenant Logistics Group stock. The stock was sold at an average price of $29.67, for a total value of $2,967,000.00.
- On Thursday, February 12th, David Ray Parker sold 20,000 shares of Covenant Logistics Group stock. The shares were sold at an average price of $29.02, for a total transaction of $580,400.00.
- On Wednesday, February 11th, David Ray Parker sold 27,400 shares of Covenant Logistics Group stock. The stock was sold at an average price of $29.34, for a total value of $803,916.00.
- 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 shares were sold at an average price of $28.66, for a total transaction of $1,604,960.00.
Covenant Logistics Group Price Performance
CVLG stock opened at $29.63 on Wednesday. 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, Inc. has a 1 year low of $17.46 and a 1 year high of $30.18. The firm has a market capitalization of $742.23 million, a P/E ratio of 134.69 and a beta of 1.21. The business's 50-day moving average is $25.23 and its two-hundred day moving average is $22.99.
Covenant Logistics Group (NYSE:CVLG - Get Free Report) last posted its earnings results on Thursday, January 29th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.01). Covenant Logistics Group had a net margin of 0.62% and a return on equity of 9.57%. The firm had revenue of $295.37 million during the quarter.
Wall Street Analysts Forecast Growth
Several research firms have commented on CVLG. Weiss Ratings restated a "hold (c)" rating on shares of Covenant Logistics Group in a report on Friday, January 9th. Zacks Research downgraded shares of Covenant Logistics Group from a "hold" rating to a "strong sell" rating in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $30.00.
View Our Latest Analysis on CVLG
Institutional Trading of Covenant Logistics Group
A number of hedge funds have recently modified their holdings of the business. SG Americas Securities LLC increased its stake in shares of Covenant Logistics Group by 4.2% in the fourth quarter. SG Americas Securities LLC now owns 11,926 shares of the company's stock worth $263,000 after acquiring an additional 478 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Covenant Logistics Group by 45.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,562 shares of the company's stock worth $38,000 after acquiring an additional 487 shares during the last quarter. Empowered Funds LLC grew its holdings in Covenant Logistics Group by 0.4% in the 2nd quarter. Empowered Funds LLC now owns 173,532 shares of the company's stock valued at $4,184,000 after buying an additional 744 shares during the last quarter. Two Sigma Investments LP boosted its holdings in Covenant Logistics Group by 2.7% in the 3rd quarter. Two Sigma Investments LP now owns 40,982 shares of the company's stock valued at $888,000 after purchasing an additional 1,068 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Covenant Logistics Group by 6.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,705 shares of the company's stock worth $391,000 after acquiring an additional 1,072 shares during the period. Hedge funds and other institutional investors own 83.72% of the company's stock.
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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