Key Points
- Director D. Michael Kramer sold 2,650 shares at an average price of $34.72 on April 29 for a total of $92,008, reducing his position by 10.71% to 22,086 shares (SEC filing).
- Q1 earnings missed: Covenant reported $0.26 EPS vs. $0.35 expected on $307.16M revenue, with a net margin of 0.42% and ROE of 9.37%, and the stock traded down roughly 2.9% around $33.84.
- Analyst and ownership backdrop: The consensus rating is "Hold" with a $35 price target (TD Cowen is more bullish with a buy and $35 PT), and institutional investors own about 83.72% of the shares.
Covenant Logistics Group, Inc. (NYSE:CVLG - Get Free Report) Director D Michael Kramer sold 2,650 shares of the firm's stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $34.72, for a total value of $92,008.00. Following the completion of the transaction, the director owned 22,086 shares in the company, valued at $766,825.92. The trade was a 10.71% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Covenant Logistics Group Trading Down 2.9%
Shares of CVLG stock opened at $33.84 on Friday. The stock's fifty day moving average is $28.57 and its two-hundred day moving average is $24.99. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.08 and a current ratio of 1.11. The firm has a market capitalization of $848.71 million, a P/E ratio of 225.60 and a beta of 1.28. Covenant Logistics Group, Inc. has a fifty-two week low of $18.00 and a fifty-two week high of $35.91.
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 analysts' consensus estimates of $0.35 by ($0.09). The firm 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%. Research analysts expect that Covenant Logistics Group, Inc. will post 1.6 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several research firms have recently commented on CVLG. Weiss Ratings reiterated a "hold (c)" rating on shares of Covenant Logistics Group in a report on Friday, January 9th. Wall Street Zen lowered Covenant Logistics Group from a "buy" rating to a "hold" rating in a report on Sunday, March 8th. Zacks Research upgraded Covenant Logistics Group from a "strong sell" rating to a "hold" rating in a report on Friday, April 3rd. Finally, TD Cowen lifted their price target on Covenant Logistics Group from $30.00 to $35.00 and gave the stock a "buy" rating in a report on Monday, April 27th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $35.00.
Read Our Latest Report on Covenant Logistics Group
Institutional Trading of Covenant Logistics Group
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Man Group plc raised its holdings in Covenant Logistics Group by 3.5% in the 4th quarter. Man Group plc now owns 10,780 shares of the company's stock valued at $238,000 after buying an additional 365 shares during the period. Corient Private Wealth LLC grew its position in Covenant Logistics Group by 1.1% in the 4th quarter. Corient Private Wealth LLC now owns 41,740 shares of the company's stock valued at $920,000 after acquiring an additional 446 shares in the last quarter. SG Americas Securities LLC grew its position in Covenant Logistics Group by 4.2% in the 4th quarter. SG Americas Securities LLC now owns 11,926 shares of the company's stock valued at $263,000 after acquiring an additional 478 shares in the last quarter. BNP Paribas Financial Markets grew its position in Covenant Logistics Group by 45.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,562 shares of the company's stock valued at $38,000 after acquiring an additional 487 shares in the last quarter. Finally, Two Sigma Investments LP grew its position 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 acquiring an additional 1,068 shares in the last quarter. 83.72% of the stock is currently owned by hedge funds and other institutional investors.
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
