Empowered Funds LLC Boosts Position in Covenant Logistics Group, Inc. (NASDAQ:CVLG)

Empowered Funds LLC increased its holdings in Covenant Logistics Group, Inc. (NASDAQ:CVLG) by 5.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 89,890 shares of the company’s stock after acquiring an additional 4,556 shares during the quarter. Empowered Funds LLC’s holdings in Covenant Logistics Group were worth $4,750,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Boston Partners purchased a new stake in shares of Covenant Logistics Group in the 1st quarter worth about $894,000. Foundry Partners LLC lifted its holdings in Covenant Logistics Group by 125.9% in the second quarter. Foundry Partners LLC now owns 184,844 shares of the company’s stock worth $9,111,000 after buying an additional 103,014 shares during the period. EMC Capital Management boosted its position in Covenant Logistics Group by 374.9% during the 3rd quarter. EMC Capital Management now owns 15,312 shares of the company’s stock valued at $809,000 after acquiring an additional 12,088 shares in the last quarter. Koss Olinger Consulting LLC purchased a new position in shares of Covenant Logistics Group during the 2nd quarter worth approximately $498,000. Finally, Shaker Investments LLC OH bought a new position in shares of Covenant Logistics Group in the 3rd quarter worth approximately $541,000. Institutional investors own 83.72% of the company’s stock.

Covenant Logistics Group Trading Down 2.3 %

Shares of NASDAQ CVLG opened at $57.84 on Monday. 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 current ratio of 1.10 and a quick ratio of 1.07. The firm has a 50-day moving average of $53.17 and a 200 day moving average of $50.85. The stock has a market cap of $762.33 million, a P/E ratio of 19.03 and a beta of 1.35.

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

Analyst Upgrades and Downgrades

Separately, TD Cowen dropped their price target on Covenant Logistics Group from $70.00 to $69.00 and set a “buy” rating on the stock in a research report on Friday, October 25th.

Insiders Place Their Bets

In other news, Director Bradley A. Moline sold 7,000 shares of Covenant Logistics Group stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $59.64, for a total value of $417,480.00. Following the completion of the transaction, the director now owns 46,992 shares of the company’s stock, valued at $2,802,602.88. The trade was a 12.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 36.50% of the company’s stock.

Covenant Logistics Group Profile

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.