Covenant Logistics Group (NASDAQ:CVLG – Get Rating) is scheduled to be issuing its quarterly earnings data after the market closes on Wednesday, January 25th. Analysts expect the company to announce earnings of $1.50 per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.
Covenant Logistics Group Trading Up 0.3 %
Shares of CVLG traded up $0.12 during mid-day trading on Tuesday, reaching $37.24. 52,475 shares of the company were exchanged, compared to its average volume of 79,598. The business has a 50 day simple moving average of $36.79 and a two-hundred day simple moving average of $33.36. Covenant Logistics Group has a 52 week low of $17.23 and a 52 week high of $40.37. The stock has a market capitalization of $502.52 million, a PE ratio of 5.09 and a beta of 1.44. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.30 and a current ratio of 1.33.
Covenant Logistics Group Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Friday, December 2nd were paid a dividend of $0.08 per share. The ex-dividend date was Thursday, December 1st. This represents a $0.32 annualized dividend and a yield of 0.86%. Covenant Logistics Group’s dividend payout ratio is currently 4.37%.
Analyst Upgrades and Downgrades
Insider Buying and Selling at Covenant Logistics Group
In other Covenant Logistics Group news, Director Bradley A. Moline sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 26th. The stock was sold at an average price of $36.24, for a total value of $724,800.00. Following the completion of the sale, the director now owns 49,399 shares of the company’s stock, valued at $1,790,219.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 29.10% of the company’s stock.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its holdings in shares of Covenant Logistics Group by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,141,635 shares of the company’s stock valued at $24,580,000 after purchasing an additional 12,726 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Covenant Logistics Group by 3.4% during the first quarter. Vanguard Group Inc. now owns 568,041 shares of the company’s stock worth $12,231,000 after acquiring an additional 18,602 shares during the period. LSV Asset Management lifted its holdings in Covenant Logistics Group by 3.5% during the first quarter. LSV Asset Management now owns 408,200 shares of the company’s stock worth $8,789,000 after acquiring an additional 13,800 shares during the period. State Street Corp lifted its holdings in Covenant Logistics Group by 0.9% during the second quarter. State Street Corp now owns 344,197 shares of the company’s stock worth $8,636,000 after acquiring an additional 3,107 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in Covenant Logistics Group by 1.3% during the second quarter. AQR Capital Management LLC now owns 131,541 shares of the company’s stock worth $3,300,000 after acquiring an additional 1,734 shares during the period. Institutional investors own 85.68% of the company’s stock.
Covenant Logistics Group Company Profile
Covenant Logistics Group, Inc is a holding company, which engages in the provision of freight and logistics services. It operates through the following segments: Highway Services and Dedicated Contract Services. The Highway Services Segment includes two separate service offerings: Expedited Services (“”Expedited””) and Over-the-Road Services (“”OTR””), both of which transport one-way freight over non-routine routes.
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