Covenant Logistics Group, Inc. (NASDAQ:CVLG) Holdings Lifted by Foundry Partners LLC

Foundry Partners LLC boosted its holdings in Covenant Logistics Group, Inc. (NASDAQ:CVLG) by 9.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 73,551 shares of the company’s stock after acquiring an additional 6,256 shares during the quarter. Foundry Partners LLC’s holdings in Covenant Logistics Group were worth $3,386,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Strs Ohio raised its holdings in Covenant Logistics Group by 2.4% during the 4th quarter. Strs Ohio now owns 13,000 shares of the company’s stock worth $598,000 after buying an additional 300 shares during the period. Legato Capital Management LLC purchased a new stake in shares of Covenant Logistics Group in the 4th quarter valued at approximately $510,000. SG Americas Securities LLC acquired a new position in Covenant Logistics Group in the 4th quarter worth approximately $221,000. Ziegler Capital Management LLC raised its stake in Covenant Logistics Group by 3.0% during the 4th quarter. Ziegler Capital Management LLC now owns 18,669 shares of the company’s stock valued at $860,000 after purchasing an additional 535 shares during the period. Finally, Vanguard Group Inc. raised its stake in Covenant Logistics Group by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 434,458 shares of the company’s stock valued at $19,051,000 after purchasing an additional 4,004 shares during the period. 83.72% of the stock is owned by institutional investors and hedge funds.

Covenant Logistics Group Stock Down 1.8 %

CVLG opened at $43.89 on Tuesday. The company has a market capitalization of $573.64 million, a P/E ratio of 10.89 and a beta of 1.41. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.09 and a quick ratio of 1.06. The firm’s fifty day moving average price is $47.10 and its two-hundred day moving average price is $45.45. Covenant Logistics Group, Inc. has a fifty-two week low of $33.58 and a fifty-two week high of $57.57.

Covenant Logistics Group (NASDAQ:CVLG) last released its quarterly earnings data on Tuesday, January 23rd. The company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.02. The company had revenue of $273.99 million during the quarter. Covenant Logistics Group had a net margin of 4.98% and a return on equity of 14.85%. On average, analysts anticipate that Covenant Logistics Group, Inc. will post 4.2 EPS for the current year.

Covenant Logistics Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 1st were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date was Thursday, February 29th. Covenant Logistics Group’s dividend payout ratio is 10.92%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. TD Cowen raised Covenant Logistics Group from a “market perform” rating to an “outperform” rating and upped their price target for the company from $51.00 to $66.00 in a research report on Thursday, January 25th. Vertical Research initiated coverage on Covenant Logistics Group in a report on Tuesday, January 23rd. They issued a “buy” rating and a $70.00 target price on the stock.

Insider Buying and Selling at Covenant Logistics Group

In related news, CEO David Ray Parker sold 55,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $51.47, for a total transaction of $2,830,850.00. Following the completion of the transaction, the chief executive officer now owns 196,537 shares in the company, valued at approximately $10,115,759.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Samuel F. Hough sold 4,000 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $51.55, for a total transaction of $206,200.00. Following the transaction, the executive vice president now owns 25,125 shares of the company’s stock, valued at $1,295,193.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David Ray Parker sold 55,000 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $51.47, for a total transaction of $2,830,850.00. Following the completion of the transaction, the chief executive officer now owns 196,537 shares in the company, valued at $10,115,759.39. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 117,667 shares of company stock valued at $6,078,403. 36.50% of the stock is currently owned by corporate insiders.

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.