Covenant Logistics Group, Inc. (NYSE:CVLG - Get Free Report) Director Joey Hogan sold 14,700 shares of the stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $34.76, for a total transaction of $510,972.00. Following the completion of the transaction, the director 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Covenant Logistics Group Trading Down 0.1%
Shares of NYSE CVLG opened at $34.81 on Friday. The company's 50 day simple moving average is $28.57 and its 200 day simple moving average is $24.99. Covenant Logistics Group, Inc. has a fifty-two week low of $18.00 and a fifty-two week high of $35.91. The firm has a market capitalization of $873.14 million, a P/E ratio of 232.07 and a beta of 1.15. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.11 and a quick ratio of 1.08.
Covenant Logistics Group (NYSE:CVLG - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.09). The business had revenue of $307.16 million during the quarter. Covenant Logistics Group had a net margin of 0.42% and a return on equity of 9.37%. On average, analysts predict that Covenant Logistics Group, Inc. will post 1.6 EPS for the current year.
Institutional Investors Weigh In On Covenant Logistics Group
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP acquired a new stake in shares of Covenant Logistics Group during the third quarter worth $33,000. BNP Paribas Financial Markets raised its holdings in shares of Covenant Logistics Group by 45.3% during the second 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 period. Raymond James Financial Inc. acquired a new stake in shares of Covenant Logistics Group during the second quarter worth $39,000. Tower Research Capital LLC TRC raised its holdings in shares of Covenant Logistics Group by 127.1% during the second quarter. Tower Research Capital LLC TRC now owns 1,971 shares of the company's stock worth $48,000 after acquiring an additional 1,103 shares during the period. Finally, State of Alaska Department of Revenue raised its holdings in shares of Covenant Logistics Group by 204.6% during the fourth quarter. State of Alaska Department of Revenue now owns 3,515 shares of the company's stock worth $77,000 after acquiring 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 research firms have weighed in on CVLG. Zacks Research upgraded shares of Covenant Logistics Group from a "strong sell" rating to a "hold" rating in a report on Friday, April 3rd. Wall Street Zen lowered shares of Covenant Logistics Group from a "buy" rating to a "hold" rating in a report on Sunday, March 8th. Weiss Ratings reiterated a "hold (c)" rating on shares of Covenant Logistics Group in a report on Friday, January 9th. Finally, TD Cowen increased their target price on shares of Covenant Logistics Group from $30.00 to $35.00 and gave the stock a "buy" rating in a report on Monday. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $35.00.
View Our Latest Stock Analysis on Covenant Logistics Group
Covenant Logistics Group Company Profile
(
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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