Covenant Logistics Group (NYSE:CVLG) CEO David Ray Parker Sells 70,000 Shares

Covenant Logistics Group, Inc. (NYSE:CVLG) CEO David Ray Parker sold 70,000 shares of the business’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $29.05, for a total value of $2,033,500.00. Following the transaction, the chief executive officer owned 227,872 shares of the company’s stock, valued at $6,619,681.60. This trade represents a 23.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

David Ray Parker also recently made the following trade(s):

• On Wednesday, February 11th, David Ray Parker sold 27,400 shares of Covenant Logistics Group stock. The shares were sold at an average price of $29.34, for a total value of $803,916.00.
• On Monday, February 9th, David Ray Parker sold 56,000 shares of Covenant Logistics Group stock. The stock was sold at an average price of $28.66, for a total transaction of $1,604,960.00.

Covenant Logistics Group Trading Up 0.3%

Shares of NYSE CVLG traded up $0.09 during mid-day trading on Wednesday, hitting $29.33. 150,683 shares of the company traded hands, compared to its average volume of 175,617. Covenant Logistics Group, Inc. has a 1 year low of $17.46 and a 1 year high of $30.19. The business has a 50 day moving average of $24.51 and a two-hundred day moving average of $22.84. The stock has a market capitalization of $734.63 million, a price-to-earnings ratio of 133.32 and a beta of 1.21. The company has a quick ratio of 0.98, a current ratio of 1.01 and a debt-to-equity ratio of 0.49.

Covenant Logistics Group (NYSE:CVLG) last issued its quarterly earnings results on Thursday, January 29th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). Covenant Logistics Group had a net margin of 0.62% and a return on equity of 9.57%. The business had revenue of $295.37 million for the quarter.

Institutional Trading of Covenant Logistics Group

A number of institutional investors have recently made changes to their positions in the business. AlphaQuest LLC acquired a new stake in Covenant Logistics Group in the 2nd quarter valued at about $380,000. American Century Companies Inc. boosted its stake in Covenant Logistics Group by 10.1% in the 2nd quarter. American Century Companies Inc. now owns 529,304 shares of the company’s stock valued at $12,762,000 after purchasing an additional 48,582 shares during the period. Boston Partners grew its stake in shares of Covenant Logistics Group by 21.8% in the second quarter. Boston Partners now owns 31,012 shares of the company’s stock valued at $748,000 after acquiring an additional 5,551 shares in the last quarter. CSM Advisors LLC bought a new position in shares of Covenant Logistics Group during the second quarter worth approximately $9,458,000. Finally, Ranger Investment Management L.P. bought a new position in Covenant Logistics Group during the 2nd quarter worth $4,450,000. Institutional investors own 83.72% of the company’s stock.

Wall Street Analysts Forecast Growth

CVLG has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Covenant Logistics Group in a research report on Friday, January 9th. Zacks Research lowered Covenant Logistics Group from a “hold” rating to a “strong sell” rating in a research note on Wednesday, January 21st. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Covenant Logistics Group has an average rating of “Hold” and a consensus target price of $30.00.

Covenant Logistics Group Company Profile

Covenant Logistics Group provides a comprehensive suite of transportation and logistics services across North America. The company’s core offerings include less‐than‐truckload (LTL) and full truckload hauling, temperature‐controlled freight, intermodal transportation and freight brokerage. Covenant also delivers specialized solutions such as expedited “hot‐shot” deliveries, cross‐border shipping to Canada and Mexico, and dedicated contract carriage for time‐sensitive or high‐value shipments.

With a network of service centers, terminals and partner carriers strategically located throughout the United States, Covenant supports diverse industries including food and beverage, automotive, retail, energy and manufacturing.