David Ray Parker Sells 27,400 Shares of Covenant Logistics Group (NYSE:CVLG) Stock

Covenant Logistics Group, Inc. (NYSE:CVLG) CEO David Ray Parker sold 27,400 shares of the business’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $29.34, for a total value of $803,916.00. Following the sale, the chief executive officer owned 2,332,944 shares in the company, valued at approximately $68,448,576.96. This trade represents a 1.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Tuesday, February 10th, David Ray Parker sold 70,000 shares of Covenant Logistics Group stock. The stock was sold at an average price of $29.05, for a total value of $2,033,500.00.
• 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 value of $1,604,960.00.

Covenant Logistics Group Trading Up 0.3%

Shares of CVLG stock traded up $0.09 during trading hours on Wednesday, hitting $29.33. 150,683 shares of the company were exchanged, compared to its average volume of 175,617. The company has a 50 day simple moving average of $24.51 and a two-hundred day simple moving average of $22.84. Covenant Logistics Group, Inc. has a fifty-two week low of $17.46 and a fifty-two week high of $30.19. The firm has a market cap of $734.63 million, a P/E ratio of 133.32 and a beta of 1.21. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.98 and a current ratio of 1.01.

Covenant Logistics Group (NYSE:CVLG) last released its quarterly earnings data 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 during the quarter.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. American Century Companies Inc. boosted its holdings in Covenant Logistics Group by 10.1% in the second quarter. American Century Companies Inc. now owns 529,304 shares of the company’s stock valued at $12,762,000 after acquiring an additional 48,582 shares in the last quarter. LSV Asset Management increased its stake in shares of Covenant Logistics Group by 0.3% during the fourth quarter. LSV Asset Management now owns 453,604 shares of the company’s stock valued at $9,997,000 after purchasing an additional 1,314 shares in the last quarter. CSM Advisors LLC grew its stake in shares of Covenant Logistics Group by 2.9% in the third quarter. CSM Advisors LLC now owns 403,484 shares of the company’s stock worth $8,744,000 after acquiring an additional 11,217 shares during the last quarter. Geode Capital Management LLC increased its stake in Covenant Logistics Group by 0.9% during the 2nd quarter. Geode Capital Management LLC now owns 378,422 shares of the company’s stock valued at $9,125,000 after purchasing an additional 3,504 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Covenant Logistics Group by 19.2% during the third quarter. Russell Investments Group Ltd. now owns 363,022 shares of the company’s stock valued at $7,863,000 after acquiring an additional 58,577 shares in the last quarter. Institutional investors own 83.72% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CVLG shares. Zacks Research lowered shares of Covenant Logistics Group from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Covenant Logistics Group in a research note on Friday, January 9th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently 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.