LSV Asset Management Has $9.80 Million Stock Holdings in Covenant Logistics Group, Inc. $CVLG

LSV Asset Management increased its holdings in shares of Covenant Logistics Group, Inc. (NYSE:CVLG) by 4.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 452,290 shares of the company’s stock after buying an additional 19,464 shares during the quarter. LSV Asset Management owned 1.81% of Covenant Logistics Group worth $9,797,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. BNP Paribas Financial Markets grew its stake in Covenant Logistics Group by 45.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,562 shares of the company’s stock valued at $38,000 after acquiring an additional 487 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Covenant Logistics Group during the second quarter valued at approximately $39,000. Tower Research Capital LLC TRC increased its stake in Covenant Logistics Group by 127.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,971 shares of the company’s stock valued at $48,000 after buying an additional 1,103 shares during the period. Copeland Capital Management LLC lifted its position in Covenant Logistics Group by 57.7% in the 3rd quarter. Copeland Capital Management LLC now owns 5,492 shares of the company’s stock worth $119,000 after buying an additional 2,010 shares in the last quarter. Finally, Creative Planning acquired a new stake in shares of Covenant Logistics Group during the 2nd quarter valued at $200,000. 83.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on CVLG. Zacks Research lowered Covenant Logistics Group from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Covenant Logistics Group in a research report on Friday, January 9th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Covenant Logistics Group has a consensus rating of “Hold” and a consensus target price of $30.00.

Covenant Logistics Group Price Performance

Shares of NYSE:CVLG opened at $28.53 on Friday. The stock has a market capitalization of $714.68 million, a P/E ratio of 129.69 and a beta of 1.21. The business has a 50-day moving average of $24.93 and a two-hundred day moving average of $22.93. Covenant Logistics Group, Inc. has a fifty-two week low of $17.46 and a fifty-two week high of $30.18. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.98.

Covenant Logistics Group (NYSE:CVLG) last issued 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). The company had revenue of $295.37 million during the quarter. Covenant Logistics Group had a net margin of 0.62% and a return on equity of 9.57%.

Insider Buying and Selling at Covenant Logistics Group

In related news, CEO David Ray Parker sold 27,400 shares of the firm’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $29.34, for a total value of $803,916.00. Following the transaction, the chief executive officer directly owned 2,332,944 shares in the company, valued at approximately $68,448,576.96. This trade represents a 1.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders have sold 153,400 shares of company stock valued at $4,442,376 in the last ninety days. 35.10% of the stock is currently owned by insiders.

About Covenant Logistics Group

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.