Key Points
- EVP Joey Ballard sold 4,000 shares of Covenant Logistics Group on June 1 at an average price of $40.15, reducing his direct stake by 23.32% to 13,149 shares.
- Ballard has been actively trimming his position, with additional sales of 3,718 shares on May 26 and 4,282 shares on May 22.
- Covenant Logistics Group recently reported Q1 EPS of $0.26, missing analyst estimates of $0.35, while Wall Street currently has a consensus Hold rating and an average price target of $35.
Covenant Logistics Group, Inc. (NYSE:CVLG - Get Free Report) EVP Joey Ballard sold 4,000 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $40.15, for a total transaction of $160,600.00. Following the completion of the sale, the executive vice president directly owned 13,149 shares in the company, valued at $527,932.35. This trade represents a 23.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Joey Ballard also recently made the following trade(s):
- On Tuesday, May 26th, Joey Ballard sold 3,718 shares of Covenant Logistics Group stock. The stock was sold at an average price of $38.00, for a total transaction of $141,284.00.
- On Friday, May 22nd, Joey Ballard sold 4,282 shares of Covenant Logistics Group stock. The stock was sold at an average price of $37.40, for a total transaction of $160,146.80.
Covenant Logistics Group Price Performance
Shares of CVLG stock opened at $41.14 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.04 and a quick ratio of 1.01. The company has a market capitalization of $1.04 billion, a P/E ratio of 274.27 and a beta of 1.30. The company's 50-day simple moving average is $31.95 and its two-hundred day simple moving average is $27.21. Covenant Logistics Group, Inc. has a one year low of $18.00 and a one year high of $41.22.
Covenant Logistics Group (NYSE:CVLG - Get Free Report) last issued its earnings results on Thursday, April 23rd. The company reported $0.26 EPS for the quarter, missing analysts' consensus estimates of $0.35 by ($0.09). The company had revenue of $307.16 million during the quarter. Covenant Logistics Group had a return on equity of 9.41% and a net margin of 0.42%. As a group, equities analysts anticipate that Covenant Logistics Group, Inc. will post 1.6 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on the stock. Wall Street Zen downgraded shares of Covenant Logistics Group from a "buy" rating to a "hold" rating in a research note on Sunday, March 8th. Zacks Research upgraded shares of Covenant Logistics Group from a "strong sell" rating to a "hold" rating in a research note on Friday, April 3rd. TD Cowen increased their price objective on shares of Covenant Logistics Group from $30.00 to $35.00 and gave the company a "buy" rating in a research note on Monday, April 27th. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of Covenant Logistics Group in a research note on Friday. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $35.00.
View Our Latest Research Report on Covenant Logistics Group
Institutional Investors Weigh In On Covenant Logistics Group
Hedge funds and other institutional investors have recently bought and sold shares of the company. Polaris Capital Management LLC raised its holdings in shares of Covenant Logistics Group by 1,061.0% in the fourth quarter. Polaris Capital Management LLC now owns 56,682 shares of the company's stock worth $1,249,000 after buying an additional 51,800 shares during the last quarter. Wesbanco Bank Inc. purchased a new position in shares of Covenant Logistics Group in the fourth quarter worth $474,000. LSV Asset Management raised its holdings in shares of Covenant Logistics Group by 4.5% in the third quarter. LSV Asset Management now owns 452,290 shares of the company's stock worth $9,797,000 after buying an additional 19,464 shares during the last quarter. Royce & Associates LP raised its holdings in shares of Covenant Logistics Group by 8.4% in the third quarter. Royce & Associates LP now owns 298,648 shares of the company's stock worth $6,469,000 after buying an additional 23,060 shares during the last quarter. Finally, Prescott Group Capital Management L.L.C. purchased a new position in shares of Covenant Logistics Group in the fourth quarter worth $353,000. Hedge funds and other institutional investors own 83.72% of the company's stock.
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.
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].
