Wesbanco Bank Inc. Invests $474,000 in Covenant Logistics Group, Inc. $CVLG

Wesbanco Bank Inc. purchased a new stake in shares of Covenant Logistics Group, Inc. (NYSE:CVLG) during the 4th quarter, HoldingsChannel reports. The firm purchased 21,500 shares of the company’s stock, valued at approximately $474,000.

Several other large investors have also added to or reduced their stakes in the company. Quarry LP purchased a new position in shares of Covenant Logistics Group in the third quarter worth about $33,000. BNP Paribas Financial Markets increased its holdings in Covenant Logistics Group by 45.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,562 shares of the company’s stock worth $38,000 after buying an additional 487 shares during the period. Raymond James Financial Inc. acquired a new position in Covenant Logistics Group in the 2nd quarter worth approximately $39,000. Tower Research Capital LLC TRC increased its holdings in 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 worth $48,000 after buying an additional 1,103 shares during the period. Finally, State of Alaska Department of Revenue increased its holdings in 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 buying an additional 2,361 shares during the period. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Covenant Logistics Group Trading Up 0.1%

Covenant Logistics Group stock opened at $33.28 on Monday. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.50. Covenant Logistics Group, Inc. has a 12 month low of $18.00 and a 12 month high of $35.91. The stock’s 50 day simple moving average is $28.83 and its two-hundred day simple moving average is $25.29. The firm has a market cap of $834.66 million, a PE ratio of 221.87 and a beta of 1.28.

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

Insiders Place Their Bets

In other Covenant Logistics Group news, Director D Michael Kramer sold 2,650 shares of the company’s stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $34.72, for a total value of $92,008.00. Following the sale, the director owned 22,086 shares in the company, valued at approximately $766,825.92. This represents a 10.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Joey B. Hogan sold 14,700 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $34.76, for a total value of $510,972.00. Following the completion of the sale, the director owned 104,094 shares in the company, valued at approximately $3,618,307.44. This represents a 12.37% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 400,150 shares of company stock worth $11,824,768. Corporate insiders own 36.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CVLG shares. TD Cowen increased their price target 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. Wall Street Zen downgraded shares of Covenant Logistics Group from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Finally, Zacks Research upgraded shares of Covenant Logistics Group from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Covenant Logistics Group has a consensus rating of “Hold” and a consensus target price of $35.00.

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.