LSV Asset Management Sells 17,113 Shares of Covenant Logistics Group, Inc. (NASDAQ:CVLG)

LSV Asset Management cut its holdings in Covenant Logistics Group, Inc. (NASDAQ:CVLG) by 3.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 562,277 shares of the company’s stock after selling 17,113 shares during the period. LSV Asset Management’s holdings in Covenant Logistics Group were worth $25,887,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Invesco Ltd. grew its stake in Covenant Logistics Group by 26.8% in the third quarter. Invesco Ltd. now owns 143,868 shares of the company’s stock valued at $6,309,000 after acquiring an additional 30,416 shares during the period. Vanguard Group Inc. increased 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 worth $19,051,000 after purchasing an additional 4,004 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in Covenant Logistics Group by 59.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 33,705 shares of the company’s stock worth $1,478,000 after buying an additional 12,515 shares during the period. HHM Wealth Advisors LLC lifted its stake in Covenant Logistics Group by 96.3% in the third quarter. HHM Wealth Advisors LLC now owns 1,570 shares of the company’s stock valued at $69,000 after buying an additional 770 shares in the last quarter. Finally, Brandywine Global Investment Management LLC boosted its holdings in shares of Covenant Logistics Group by 9.3% in the third quarter. Brandywine Global Investment Management LLC now owns 35,337 shares of the company’s stock valued at $1,550,000 after buying an additional 3,018 shares during the period. Institutional investors and hedge funds own 83.72% of the company’s stock.

Covenant Logistics Group Trading Up 0.3 %

NASDAQ CVLG opened at $45.54 on Monday. Covenant Logistics Group, Inc. has a 12 month low of $37.50 and a 12 month high of $57.57. The company has a current ratio of 1.09, a quick ratio of 1.06 and a debt-to-equity ratio of 0.50. The stock has a 50 day moving average of $45.71 and a 200-day moving average of $45.45. The company has a market cap of $595.30 million, a PE ratio of 14.60 and a beta of 1.41.

Covenant Logistics Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 1st were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date was Thursday, February 29th. Covenant Logistics Group’s dividend payout ratio (DPR) is presently 14.10%.

Insider Activity

In other Covenant Logistics Group news, CEO David Ray Parker sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $54.43, for a total value of $272,150.00. Following the sale, the chief executive officer now owns 325,737 shares in the company, valued at $17,729,864.91. 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 firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $51.55, for a total transaction of $206,200.00. Following the completion of the sale, the executive vice president now owns 25,125 shares in the company, valued at approximately $1,295,193.75. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO David Ray Parker sold 5,000 shares of Covenant Logistics Group stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $54.43, for a total transaction of $272,150.00. Following the sale, the chief executive officer now directly owns 325,737 shares of the company’s stock, valued at approximately $17,729,864.91. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 107,000 shares of company stock valued at $5,541,240. 36.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CVLG has been the topic of a number of research reports. TD Cowen upgraded Covenant Logistics Group from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $51.00 to $66.00 in a report on Thursday, January 25th. Vertical Research initiated coverage on shares of Covenant Logistics Group in a research note on Tuesday, January 23rd. They set a “buy” rating and a $70.00 price target for the company.

Covenant Logistics Group Company 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.