Joey Ballard Sells 4,282 Shares of Covenant Logistics Group (NYSE:CVLG) Stock

Covenant Logistics Group, Inc. (NYSE:CVLG) EVP Joey Ballard sold 4,282 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $37.40, for a total transaction of $160,146.80. Following the sale, the executive vice president directly owned 20,867 shares of the company’s stock, valued at $780,425.80. The trade was a 17.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Tuesday, May 26th, Joey Ballard sold 3,718 shares of Covenant Logistics Group stock. The shares were sold at an average price of $38.00, for a total transaction of $141,284.00.

Covenant Logistics Group Trading Down 0.2%

Shares of CVLG opened at $39.50 on Friday. The stock has a market capitalization of $994.22 million, a P/E ratio of 263.33 and a beta of 1.28. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.50. The firm has a fifty day simple moving average of $31.34 and a two-hundred day simple moving average of $26.91. Covenant Logistics Group, Inc. has a twelve month low of $18.00 and a twelve month high of $40.00.

Covenant Logistics Group (NYSE:CVLG) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $0.26 earnings per share 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 firm had revenue of $307.16 million for the quarter. On average, research analysts anticipate that Covenant Logistics Group, Inc. will post 1.6 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. lifted its position in Covenant Logistics Group by 46.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 714,516 shares of the company’s stock valued at $15,748,000 after acquiring an additional 227,216 shares during the period. LSV Asset Management lifted its position in Covenant Logistics Group by 0.3% during the 4th quarter. LSV Asset Management now owns 453,604 shares of the company’s stock valued at $9,997,000 after acquiring an additional 1,314 shares during the period. Russell Investments Group Ltd. lifted its position in Covenant Logistics Group by 15.6% during the 4th quarter. Russell Investments Group Ltd. now owns 419,773 shares of the company’s stock valued at $9,252,000 after acquiring an additional 56,751 shares during the period. CSM Advisors LLC lifted its position in Covenant Logistics Group by 2.9% during the 3rd quarter. CSM Advisors LLC now owns 403,484 shares of the company’s stock valued at $8,744,000 after acquiring an additional 11,217 shares during the period. Finally, Royce & Associates LP lifted its position in Covenant Logistics Group by 6.1% during the 4th quarter. Royce & Associates LP now owns 316,868 shares of the company’s stock valued at $6,984,000 after acquiring an additional 18,220 shares during the period. 83.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CVLG has been the subject of several research analyst reports. 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. TD Cowen raised their target price on shares of Covenant Logistics Group from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Finally, Wall Street Zen cut shares of Covenant Logistics Group from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $35.00.

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.