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

Covenant Logistics Group, Inc. (NYSE:CVLG) CEO David Ray Parker sold 27,400 shares of the company’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $29.34, for a total transaction of $803,916.00. Following the transaction, the chief executive officer owned 2,332,944 shares in the company, valued at $68,448,576.96. This represents a 1.16% decrease in their position. The sale was disclosed in a document filed 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 shares were 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 shares were sold at an average price of $28.66, for a total value of $1,604,960.00.

Covenant Logistics Group Stock Up 0.3%

Shares of NYSE:CVLG opened at $29.33 on Thursday. The business’s 50 day simple moving average is $24.67 and its two-hundred day simple moving average is $22.89. The firm has a market cap of $734.72 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, Inc. has a 52-week low of $17.46 and a 52-week high of $30.19.

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

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Covenant Logistics Group

Several large investors have recently bought and sold shares of the stock. American Century Companies Inc. boosted its holdings in Covenant Logistics Group by 10.1% during the 2nd quarter. American Century Companies Inc. now owns 529,304 shares of the company’s stock worth $12,762,000 after acquiring an additional 48,582 shares during the last quarter. LSV Asset Management lifted its position 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 boosted its holdings in Covenant Logistics Group by 2.9% during the third quarter. CSM Advisors LLC now owns 403,484 shares of the company’s stock worth $8,744,000 after purchasing an additional 11,217 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Covenant Logistics Group by 0.9% during the second quarter. Geode Capital Management LLC now owns 378,422 shares of the company’s stock worth $9,125,000 after purchasing an additional 3,504 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in Covenant Logistics Group by 19.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 363,022 shares of the company’s stock worth $7,863,000 after purchasing an additional 58,577 shares in the last quarter. 83.72% of the stock is currently owned by institutional investors.

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.