Covenant Logistics Group (NYSE:CVLG) Director Joey Hogan Sells 12,800 Shares

Covenant Logistics Group, Inc. (NYSE:CVLG) Director Joey Hogan sold 12,800 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $39.18, for a total transaction of $501,504.00. Following the sale, the director directly owned 91,294 shares of the company’s stock, valued at $3,576,898.92. This represents a 12.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Covenant Logistics Group Price Performance

Shares of CVLG stock traded up $0.85 on Wednesday, reaching $39.70. 337,432 shares of the company were exchanged, compared to its average volume of 171,586. The company has a market cap of $999.25 million, a price-to-earnings ratio of 264.67 and a beta of 1.28. The business has a 50-day moving average price of $30.76 and a 200 day moving average price of $26.63. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.01 and a current ratio of 1.04. Covenant Logistics Group, Inc. has a 1 year low of $18.00 and a 1 year high of $39.79.

Covenant Logistics Group (NYSE:CVLG) last released its earnings results on Thursday, April 23rd. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.09). Covenant Logistics Group had a return on equity of 9.41% and a net margin of 0.42%.The company had revenue of $307.16 million for the quarter. Equities research analysts forecast that Covenant Logistics Group, Inc. will post 1.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Zacks Research raised shares of Covenant Logistics Group from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. TD Cowen boosted their target price on shares of Covenant Logistics Group from $30.00 to $35.00 and gave the company a “buy” rating in a report on Monday, April 27th. Finally, Wall Street Zen lowered shares of Covenant Logistics Group from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $35.00.

Hedge Funds Weigh In On Covenant Logistics Group

A number of hedge funds have recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. boosted its position in shares of Covenant Logistics Group by 46.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 714,516 shares of the company’s stock worth $15,748,000 after purchasing an additional 227,216 shares during the period. LSV Asset Management boosted its position in shares of Covenant Logistics Group by 0.3% during the 4th quarter. LSV Asset Management now owns 453,604 shares of the company’s stock worth $9,997,000 after purchasing an additional 1,314 shares during the period. Russell Investments Group Ltd. lifted its holdings in Covenant Logistics Group by 15.6% during the 4th quarter. Russell Investments Group Ltd. now owns 419,773 shares of the company’s stock worth $9,252,000 after buying an additional 56,751 shares in the last quarter. CSM Advisors LLC lifted its holdings in Covenant Logistics Group by 2.9% during the 3rd quarter. CSM Advisors LLC now owns 403,484 shares of the company’s stock worth $8,744,000 after buying an additional 11,217 shares in the last quarter. Finally, Royce & Associates LP lifted its holdings in Covenant Logistics Group by 6.1% during the 4th quarter. Royce & Associates LP now owns 316,868 shares of the company’s stock worth $6,984,000 after buying an additional 18,220 shares in the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

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.