Covenant Logistics Group (NYSE:CVLG) CEO David Ray Parker Sells 30,400 Shares of Stock

Covenant Logistics Group, Inc. (NYSE:CVLG) CEO David Ray Parker sold 30,400 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $29.18, for a total value of $887,072.00. Following the completion of the sale, the chief executive officer directly owned 2,047,544 shares of the company’s stock, valued at $59,747,333.92. The trade was a 1.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Thursday, February 19th, David Ray Parker sold 55,000 shares of Covenant Logistics Group stock. The shares were sold at an average price of $29.38, for a total value of $1,615,900.00.
• On Wednesday, February 18th, David Ray Parker sold 65,000 shares of Covenant Logistics Group stock. The stock was sold at an average price of $29.34, for a total value of $1,907,100.00.
• 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 Friday, February 13th, David Ray Parker sold 15,000 shares of Covenant Logistics Group stock. The shares were sold at an average price of $28.46, for a total transaction of $426,900.00.
• On Thursday, February 12th, David Ray Parker sold 20,000 shares of Covenant Logistics Group stock. The stock was 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 transaction of $803,916.00.
• On Tuesday, February 10th, David Ray Parker sold 70,000 shares of Covenant Logistics Group stock. The stock was 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 transaction of $1,604,960.00.

Covenant Logistics Group Stock Up 0.4%

Shares of NYSE:CVLG opened at $29.53 on Friday. The firm has a market capitalization of $739.73 million, a PE ratio of 134.23 and a beta of 1.21. The business has a 50 day simple moving average of $25.61 and a two-hundred day simple moving average of $23.13. Covenant Logistics Group, Inc. has a 1 year low of $17.46 and a 1 year high of $30.38. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.98.

Covenant Logistics Group (NYSE:CVLG) last issued its quarterly earnings results on Thursday, January 29th. The company reported $0.31 earnings per share (EPS) 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 business had revenue of $295.37 million for the quarter.

Hedge Funds Weigh In On Covenant Logistics Group

Several institutional investors have recently made changes to their positions in CVLG. Quarry LP bought a new stake in shares of Covenant Logistics Group in the third quarter valued at about $33,000. BNP Paribas Financial Markets increased its position 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 valued at $38,000 after purchasing an additional 487 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Covenant Logistics Group in the 2nd quarter valued at about $39,000. Tower Research Capital LLC TRC raised its holdings in shares of Covenant Logistics Group by 127.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,971 shares of the company’s stock valued at $48,000 after purchasing an additional 1,103 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its position in shares of Covenant Logistics Group by 204.6% in 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. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Analyst Ratings Changes

CVLG has been the topic of a number of research analyst reports. Zacks Research cut shares of Covenant Logistics Group from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Covenant Logistics Group in a research 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $30.00.

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.