Covenant Logistics Group, Inc. $CVLG Shares Acquired by Quantinno Capital Management LP

Quantinno Capital Management LP lifted its holdings in Covenant Logistics Group, Inc. (NYSE:CVLG) by 61.1% during the first quarter, Holdings Channel reports. The institutional investor owned 38,453 shares of the company’s stock after purchasing an additional 14,590 shares during the quarter. Quantinno Capital Management LP’s holdings in Covenant Logistics Group were worth $1,044,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Quarry LP purchased a new position in Covenant Logistics Group in the third quarter worth $33,000. BNP Paribas Financial Markets lifted 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 valued at $38,000 after acquiring an additional 487 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Covenant Logistics Group during the 2nd quarter worth $39,000. Tower Research Capital LLC TRC boosted its position in shares of 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 purchasing an additional 1,103 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its stake in shares of 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 purchasing an additional 2,361 shares during the period. Institutional investors and hedge funds own 83.72% of the company’s stock.

Insider Activity

In other Covenant Logistics Group news, 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 transaction of $160,146.80. Following the completion of the transaction, the executive vice president directly owned 20,867 shares in the company, valued at approximately $780,425.80. This trade represents a 17.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Joey B. Hogan sold 12,800 shares of Covenant Logistics Group 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 transaction, the director 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 disclosure for this sale is available in the SEC filing. Insiders have sold a total of 24,800 shares of company stock valued at $963,535 over the last 90 days. 36.70% of the stock is currently owned by insiders.

Covenant Logistics Group Trading Up 0.5%

Shares of CVLG stock opened at $34.86 on Friday. Covenant Logistics Group, Inc. has a fifty-two week low of $18.00 and a fifty-two week high of $49.88. The stock has a market cap of $884.68 million, a P/E ratio of 316.94 and a beta of 1.32. The business has a fifty day simple moving average of $42.62 and a 200-day simple moving average of $34.79. The company has a quick ratio of 1.01, a current ratio of 1.14 and a debt-to-equity ratio of 0.55.

Covenant Logistics Group (NYSE:CVLG) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter. Covenant Logistics Group had a return on equity of 9.14% and a net margin of 0.31%.The business had revenue of $332.87 million during the quarter. On average, analysts forecast that Covenant Logistics Group, Inc. will post 1.6 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. National Bank Financial set a $60.00 price target on shares of Covenant Logistics Group in a report on Wednesday, July 15th. TD Cowen boosted their price objective on shares of Covenant Logistics Group from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Citigroup began coverage on shares of Covenant Logistics Group in a research report on Wednesday, July 15th. They set an “outperform” rating on the stock. Zacks Research raised shares of Covenant Logistics Group from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. Finally, Citizens Jmp started coverage on shares of Covenant Logistics Group in a research report on Wednesday, July 15th. They set a “market outperform” rating and a $60.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Covenant Logistics Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.25.

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.