Insider Selling: Covenant Logistics Group, Inc. (NASDAQ:CVLG) Director Sells 7,000 Shares of Stock

Covenant Logistics Group, Inc. (NASDAQ:CVLG) Director Bradley A. Moline sold 7,000 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $59.64, for a total value of $417,480.00. Following the sale, the director now owns 46,992 shares of the company’s stock, valued at approximately $2,802,602.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Covenant Logistics Group Trading Down 0.5 %

CVLG stock traded down $0.28 during trading on Wednesday, hitting $60.38. 62,321 shares of the company traded hands, compared to its average volume of 62,371. Covenant Logistics Group, Inc. has a 1 year low of $40.72 and a 1 year high of $61.54. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.07 and a current ratio of 1.10. The company has a 50-day moving average of $52.71 and a 200-day moving average of $50.56. The firm has a market capitalization of $795.81 million, a PE ratio of 15.02 and a beta of 1.35.

Covenant Logistics Group (NASDAQ:CVLG) last posted its earnings results on Wednesday, October 23rd. The company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. The business had revenue of $287.89 million during the quarter. Covenant Logistics Group had a return on equity of 13.43% and a net margin of 3.72%. During the same period in the previous year, the business posted $1.13 EPS. Analysts predict that Covenant Logistics Group, Inc. will post 4 earnings per share for the current fiscal year.

Covenant Logistics Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 6th were paid a dividend of $0.11 per share. The ex-dividend date was Friday, September 6th. This represents a $0.44 annualized dividend and a yield of 0.73%. Covenant Logistics Group’s payout ratio is currently 14.47%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. AQR Capital Management LLC boosted its stake in shares of Covenant Logistics Group by 0.3% during the 2nd quarter. AQR Capital Management LLC now owns 74,704 shares of the company’s stock worth $3,682,000 after acquiring an additional 236 shares in the last quarter. Townsquare Capital LLC increased its holdings in shares of Covenant Logistics Group by 7.8% during the 3rd quarter. Townsquare Capital LLC now owns 4,921 shares of the company’s stock worth $260,000 after buying an additional 357 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Covenant Logistics Group by 7.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,491 shares of the company’s stock valued at $301,000 after purchasing an additional 442 shares during the last quarter. Huntington National Bank acquired a new stake in Covenant Logistics Group in the 3rd quarter valued at approximately $27,000. Finally, CWM LLC boosted its position in Covenant Logistics Group by 2,336.4% in the 2nd quarter. CWM LLC now owns 536 shares of the company’s stock valued at $26,000 after buying an additional 514 shares during the period. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Analyst Ratings Changes

Separately, TD Cowen reduced their price objective on Covenant Logistics Group from $70.00 to $69.00 and set a “buy” rating for the company in a research note on Friday, October 25th.

About Covenant Logistics Group

Covenant Logistics Group, Inc, together with its subsidiaries, provides transportation and logistics services in the United States. It operates through four segments: Expedited, Dedicated, Managed Freight, and Warehousing. The Expedited segment primarily provides truckload services with high service freight and delivery standards, such as 1,000 miles in 22 hours or 15-minute delivery windows.