Insider Selling: Covenant Logistics Group (NYSE:CVLG) EVP Sells $141,284.00 in Stock

Covenant Logistics Group, Inc. (NYSE:CVLG) EVP Joey Ballard sold 3,718 shares of Covenant Logistics Group stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $38.00, for a total transaction of $141,284.00. Following the completion of the sale, the executive vice president directly owned 17,149 shares of the company’s stock, valued at approximately $651,662. The trade was a 17.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Joey Ballard also recently made the following trade(s):

• On Friday, May 22nd, Joey Ballard sold 4,282 shares of Covenant Logistics Group stock. The shares were sold at an average price of $37.40, for a total transaction of $160,146.80.

Covenant Logistics Group Stock Performance

NYSE CVLG opened at $39.71 on Friday. The company has a fifty day simple moving average of $31.63 and a 200 day simple moving average of $27.00. Covenant Logistics Group, Inc. has a 12-month low of $18.00 and a 12-month high of $40.00. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.50. The company has a market cap of $999.50 million, a P/E ratio of 264.73 and a beta of 1.28.

Covenant Logistics Group (NYSE:CVLG) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.09). Covenant Logistics Group had a net margin of 0.42% and a return on equity of 9.41%. The business had revenue of $307.16 million during the quarter. Sell-side analysts predict that Covenant Logistics Group, Inc. will post 1.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CVLG has been the subject of several research reports. Wall Street Zen downgraded shares of Covenant Logistics Group from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. Zacks Research raised shares of Covenant Logistics Group from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. Finally, TD Cowen lifted their price target on shares of Covenant Logistics Group from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, April 27th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Covenant Logistics Group has a consensus rating of “Hold” and a consensus target price of $35.00.

Hedge Funds Weigh In On Covenant Logistics Group

Hedge funds have recently bought and sold shares of the company. Quarry LP purchased a new position in Covenant Logistics Group during the 3rd quarter worth $33,000. BNP Paribas Financial Markets boosted its holdings 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 worth $38,000 after acquiring an additional 487 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Covenant Logistics Group during the 2nd quarter worth $39,000. Tower Research Capital LLC TRC boosted its holdings 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 last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in Covenant Logistics Group by 204.6% during the 4th 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 last quarter. 83.72% of the stock is owned by hedge funds and other 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.