Covenant Logistics Group (NYSE:CVLG) CEO David Ray Parker Sells 15,000 Shares of Stock

Covenant Logistics Group, Inc. (NYSE:CVLG) CEO David Ray Parker sold 15,000 shares of Covenant Logistics Group stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $28.46, for a total value of $426,900.00. Following the completion of the transaction, the chief executive officer directly owned 2,297,944 shares in the company, valued at approximately $65,399,486.24. This represents a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, February 17th, David Ray Parker sold 100,000 shares of Covenant Logistics Group stock. The stock was sold at an average price of $29.67, for a total transaction of $2,967,000.00.
• On Thursday, February 12th, David Ray Parker sold 20,000 shares of Covenant Logistics Group stock. The shares were sold at an average price of $29.02, for a total transaction of $580,400.00.
• On Wednesday, February 11th, David Ray Parker sold 27,400 shares of Covenant Logistics Group stock. The stock was sold at an average price of $29.34, for a total value of $803,916.00.
• 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 transaction 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 Price Performance

Shares of NYSE:CVLG opened at $29.63 on Wednesday. Covenant Logistics Group, Inc. has a twelve month low of $17.46 and a twelve month high of $30.18. The firm has a market capitalization of $742.23 million, a price-to-earnings ratio of 134.69 and a beta of 1.21. The stock’s 50 day moving average is $25.23 and its 200-day moving average is $22.99. 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 announced its earnings results on Thursday, January 29th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.01). The company had revenue of $295.37 million for the quarter. Covenant Logistics Group had a net margin of 0.62% and a return on equity of 9.57%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Covenant Logistics Group in a report on Friday, January 9th. Zacks Research downgraded Covenant Logistics Group from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $30.00.

Institutional Investors Weigh In On Covenant Logistics Group

Several institutional investors have recently modified their holdings of the stock. Quarry LP bought a new position in Covenant Logistics Group in the 3rd quarter valued at $33,000. BNP Paribas Financial Markets grew its holdings in Covenant Logistics Group by 45.3% in the second quarter. BNP Paribas Financial Markets now owns 1,562 shares of the company’s stock worth $38,000 after purchasing an additional 487 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Covenant Logistics Group in the 2nd quarter valued at approximately $39,000. Tower Research Capital LLC TRC lifted its position in Covenant Logistics Group by 127.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,971 shares of the company’s stock worth $48,000 after acquiring an additional 1,103 shares during the period. Finally, State of Alaska Department of Revenue increased its stake in shares of Covenant Logistics Group by 204.6% in the fourth quarter. State of Alaska Department of Revenue now owns 3,515 shares of the company’s stock worth $77,000 after acquiring an additional 2,361 shares during the period. 83.72% of the stock is owned by institutional investors.

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.