Victory Capital Management Inc. grew its stake in shares of Covenant Transportation Group, Inc. (NASDAQ:CVTI) by 11.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 71,802 shares of the transportation company’s stock after acquiring an additional 7,430 shares during the period. Victory Capital Management Inc. owned about 0.39% of Covenant Transportation Group worth $1,259,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in CVTI. Teachers Advisors LLC lifted its position in shares of Covenant Transportation Group by 7.0% during the 4th quarter. Teachers Advisors LLC now owns 19,263 shares of the transportation company’s stock valued at $373,000 after acquiring an additional 1,268 shares during the last quarter. Nationwide Fund Advisors lifted its position in shares of Covenant Transportation Group by 11.9% during the 1st quarter. Nationwide Fund Advisors now owns 10,166 shares of the transportation company’s stock valued at $191,000 after acquiring an additional 1,080 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Covenant Transportation Group by 5.3% during the 1st quarter. Russell Investments Group Ltd. now owns 202,631 shares of the transportation company’s stock valued at $3,809,000 after acquiring an additional 10,137 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Covenant Transportation Group by 5.8% during the 1st quarter. Bank of New York Mellon Corp now owns 63,247 shares of the transportation company’s stock valued at $1,190,000 after acquiring an additional 3,473 shares during the last quarter. Finally, Comerica Bank acquired a new stake in shares of Covenant Transportation Group during the 1st quarter valued at $930,000. Institutional investors own 62.13% of the company’s stock.

Shares of Covenant Transportation Group, Inc. (NASDAQ CVTI) opened at 25.32 on Thursday. Covenant Transportation Group, Inc. has a 52 week low of $14.26 and a 52 week high of $26.49. The firm has a market capitalization of $463.03 million, a P/E ratio of 45.30 and a beta of 1.61. The firm’s 50-day moving average is $21.34 and its 200 day moving average is $18.90.

Covenant Transportation Group (NASDAQ:CVTI) last released its earnings results on Tuesday, July 25th. The transportation company reported $0.08 EPS for the quarter, hitting analysts’ consensus estimates of $0.08. Covenant Transportation Group had a net margin of 1.60% and a return on equity of 4.65%. The firm had revenue of $164.30 million during the quarter, compared to analyst estimates of $158.40 million. During the same quarter in the previous year, the business earned $0.20 EPS. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. Equities research analysts forecast that Covenant Transportation Group, Inc. will post $0.71 EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “Victory Capital Management Inc. Buys 7,430 Shares of Covenant Transportation Group, Inc. (CVTI)” was originally posted by Daily Political and is the sole property of of Daily Political. If you are reading this piece on another publication, it was stolen and republished in violation of US & international copyright and trademark law. The original version of this piece can be viewed at https://www.dailypolitical.com/2017/09/14/victory-capital-management-inc-buys-7430-shares-of-covenant-transportation-group-inc-cvti.html.

A number of brokerages have recently commented on CVTI. ValuEngine upgraded Covenant Transportation Group from a “sell” rating to a “hold” rating in a research report on Monday, August 14th. Stephens raised shares of Covenant Transportation Group from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $20.00 to $25.00 in a research note on Monday, August 14th. BidaskClub raised shares of Covenant Transportation Group from a “sell” rating to a “hold” rating in a research note on Monday, August 14th. Zacks Investment Research raised shares of Covenant Transportation Group from a “sell” rating to a “hold” rating in a research note on Tuesday, September 5th. Finally, Cowen and Company reissued a “buy” rating and set a $24.00 target price on shares of Covenant Transportation Group in a research note on Monday, August 28th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Covenant Transportation Group has a consensus rating of “Hold” and a consensus target price of $23.00.

In other Covenant Transportation Group news, VP Ralph H. Lovin, Jr. sold 8,922 shares of Covenant Transportation Group stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $25.48, for a total transaction of $227,332.56. Following the completion of the sale, the vice president now owns 46,371 shares of the company’s stock, valued at approximately $1,181,533.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Joey B. Hogan sold 5,000 shares of Covenant Transportation Group stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $25.03, for a total transaction of $125,150.00. The disclosure for this sale can be found here. 35.20% of the stock is currently owned by insiders.

Covenant Transportation Group Company Profile

Covenant Transportation Group, Inc is a provider of expedited long haul freight transportation, primarily using two-person driver teams in transcontinental lanes. The Company’s services also include refrigerated, dedicated, cross-border, regional and brokerage. The Company’s segments include Truckload and Other.

Institutional Ownership by Quarter for Covenant Transportation Group (NASDAQ:CVTI)

Receive News & Ratings for Covenant Transportation Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Covenant Transportation Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.