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

Quantinno Capital Management LP increased its position in shares of Covenant Logistics Group, Inc. (NYSE:CVLG) by 61.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 38,453 shares of the company’s stock after buying an additional 14,590 shares during the quarter. Quantinno Capital Management LP owned about 0.15% of Covenant Logistics Group worth $1,044,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CVLG. Quarry LP acquired a new stake in shares of Covenant Logistics Group in the third quarter valued at approximately $33,000. BNP Paribas Financial Markets grew its position in shares of Covenant Logistics Group by 45.3% during the second quarter. BNP Paribas Financial Markets now owns 1,562 shares of the company’s stock worth $38,000 after acquiring an additional 487 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Covenant Logistics Group in the 2nd quarter valued at $39,000. Tower Research Capital LLC TRC increased 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 acquiring an additional 1,103 shares during the period. Finally, State of Alaska Department of Revenue raised its position 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 valued at $77,000 after purchasing an additional 2,361 shares during the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Insiders Place Their Bets

In other news, Director Joey B. Hogan sold 12,800 shares of Covenant Logistics Group stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $39.18, for a total value of $501,504.00. Following the sale, the director owned 91,294 shares of the company’s stock, valued at $3,576,898.92. The trade was a 12.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Joey Ballard sold 4,282 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $37.40, for a total transaction of $160,146.80. Following the transaction, the executive vice president owned 20,867 shares in the company, valued at approximately $780,425.80. This trade represents a 17.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 24,800 shares of company stock valued at $963,535. 36.70% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Zacks Research upgraded shares of Covenant Logistics Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 13th. Stephens set a $54.00 price objective on shares of Covenant Logistics Group and gave the company an “overweight” rating in a research note on Friday, July 31st. National Bank Financial set a $60.00 target price on shares of Covenant Logistics Group in a report on Wednesday, July 15th. Citizens Jmp started coverage on shares of Covenant Logistics Group in a research note on Wednesday, July 15th. They set a “market outperform” rating and a $60.00 target price for the company. Finally, Weiss Ratings downgraded shares of Covenant Logistics Group from a “hold (c)” rating to a “sell (d+)” rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Covenant Logistics Group presently has an average rating of “Moderate Buy” and a consensus price target of $52.25.

Covenant Logistics Group Price Performance

Covenant Logistics Group stock opened at $34.86 on Friday. Covenant Logistics Group, Inc. has a 12 month low of $18.00 and a 12 month high of $49.88. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.14 and a quick ratio of 1.01. The business has a 50 day simple moving average of $42.62 and a 200-day simple moving average of $34.79. The stock has a market capitalization of $884.68 million, a PE ratio of 316.94 and a beta of 1.32.

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

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.