Truvestments Capital LLC Cuts Holdings in Covenant Logistics Group, Inc. (NASDAQ:CVLG)

Truvestments Capital LLC lowered its stake in shares of Covenant Logistics Group, Inc. (NASDAQ:CVLG) by 3.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,542 shares of the company’s stock after selling 181 shares during the period. Truvestments Capital LLC’s holdings in Covenant Logistics Group were worth $293,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of CVLG. Russell Investments Group Ltd. lifted its stake in shares of Covenant Logistics Group by 252.6% during the 1st quarter. Russell Investments Group Ltd. now owns 29,041 shares of the company’s stock worth $1,346,000 after purchasing an additional 20,805 shares during the last quarter. State Board of Administration of Florida Retirement System purchased a new stake in shares of Covenant Logistics Group during the first quarter valued at about $304,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of 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 buying an additional 442 shares in the last quarter. EMC Capital Management purchased a new position in shares of Covenant Logistics Group in the 1st quarter worth approximately $149,000. Finally, Boston Partners bought a new position in shares of Covenant Logistics Group during the 1st quarter worth approximately $894,000. Institutional investors own 83.72% of the company’s stock.

Insider Buying and Selling at Covenant Logistics Group

In other Covenant Logistics Group news, Director Bradley A. Moline sold 7,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $59.64, for a total transaction of $417,480.00. Following the sale, the director now owns 46,992 shares in the company, valued at approximately $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 can be accessed through the SEC website. 36.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, TD Cowen lowered their target price on shares of 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.

Covenant Logistics Group Stock Up 0.8 %

Shares of CVLG stock opened at $58.22 on Tuesday. The stock’s fifty day moving average price is $53.86 and its 200 day moving average price is $51.34. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 1.07. Covenant Logistics Group, Inc. has a 1-year low of $41.38 and a 1-year high of $61.54. The company has a market cap of $767.34 million, a price-to-earnings ratio of 19.15 and a beta of 1.35.

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

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.