Sei Investments Co. Purchases 25,331 Shares of Covenant Logistics Group, Inc. $CVLG

Sei Investments Co. grew its position in Covenant Logistics Group, Inc. (NYSE:CVLG) by 95.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 51,766 shares of the company’s stock after acquiring an additional 25,331 shares during the quarter. Sei Investments Co. owned about 0.21% of Covenant Logistics Group worth $1,405,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Quarry LP bought a new position in Covenant Logistics Group during the 3rd quarter valued at about $33,000. BNP Paribas Financial Markets lifted its stake 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 during the second quarter valued at approximately $39,000. Tower Research Capital LLC TRC grew its stake in shares of Covenant Logistics Group by 127.1% during the second 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 last quarter. Finally, State of Alaska Department of Revenue grew its stake in shares of Covenant Logistics Group by 204.6% during the fourth quarter. State of Alaska Department of Revenue now owns 3,515 shares of the company’s stock valued at $77,000 after buying an additional 2,361 shares during the last quarter. Institutional investors own 83.72% of the company’s stock.

Covenant Logistics Group Stock Performance

Shares of CVLG stock opened at $33.34 on Wednesday. The firm has a market cap of $839.17 million, a price-to-earnings ratio of 303.12 and a beta of 1.32. The company’s 50 day moving average is $43.13 and its 200 day moving average is $34.68. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.50. Covenant Logistics Group, Inc. has a 52-week low of $18.00 and a 52-week high of $49.88.

Covenant Logistics Group (NYSE:CVLG) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.42 EPS for the quarter. The company had revenue of $332.87 million during the quarter. Covenant Logistics Group had a net margin of 0.31% and a return on equity of 9.15%. On average, sell-side analysts anticipate that Covenant Logistics Group, Inc. will post 1.6 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Citizens Jmp began coverage on Covenant Logistics Group in a report on Wednesday, July 15th. They issued a “market outperform” rating and a $60.00 price target on the stock. Stephens set a $54.00 price objective on Covenant Logistics Group and gave the company an “overweight” rating in a report on Friday, July 31st. Citigroup initiated coverage on Covenant Logistics Group in a research report on Wednesday, July 15th. They issued an “outperform” rating on the stock. Wall Street Zen lowered Covenant Logistics Group from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Zacks Research upgraded Covenant Logistics Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $52.25.

Insiders Place Their Bets

In other news, Director Joey B. Hogan sold 12,800 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $39.18, for a total value of $501,504.00. Following the completion of the transaction, the director directly owned 91,294 shares of the company’s stock, valued at approximately $3,576,898.92. The trade was a 12.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Joey Ballard sold 4,282 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $37.40, for a total value of $160,146.80. Following the sale, the executive vice president directly owned 20,867 shares in the company, valued at approximately $780,425.80. The trade was a 17.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 24,800 shares of company stock worth $963,535 over the last quarter. Company insiders own 36.70% of the company’s stock.

Covenant Logistics Group 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.