Covenant Logistics Group, Inc. $CVLG Position Boosted by Royce & Associates LP

Royce & Associates LP raised its holdings in shares of Covenant Logistics Group, Inc. (NYSE:CVLG) by 6.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 316,868 shares of the company’s stock after acquiring an additional 18,220 shares during the quarter. Royce & Associates LP owned approximately 1.26% of Covenant Logistics Group worth $6,984,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. LSV Asset Management grew its stake 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 in the last quarter. CSM Advisors LLC grew its stake 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 in the last quarter. Russell Investments Group Ltd. grew its stake in Covenant Logistics Group by 19.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 363,022 shares of the company’s stock valued at $7,863,000 after acquiring an additional 58,577 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in Covenant Logistics Group by 1.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 198,717 shares of the company’s stock valued at $4,304,000 after acquiring an additional 3,241 shares in the last quarter. Finally, Ranger Investment Management L.P. grew its stake in Covenant Logistics Group by 0.7% during the 3rd quarter. Ranger Investment Management L.P. now owns 185,895 shares of the company’s stock valued at $4,026,000 after acquiring an additional 1,320 shares in the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Insider Buying and Selling

In related news, Director Joey B. Hogan sold 12,800 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $39.18, for a total value of $501,504.00. Following the completion of the sale, the director directly owned 91,294 shares in the company, valued at approximately $3,576,898.92. The trade was a 12.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director D Michael Kramer sold 2,650 shares of the business’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 completion of the sale, the director owned 22,086 shares of the company’s stock, valued at approximately $766,825.92. This trade represents a 10.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 38,150 shares of company stock worth $1,405,915. 36.70% of the stock is currently owned by insiders.

Covenant Logistics Group Stock Performance

Shares of NYSE CVLG opened at $39.50 on Friday. The business’s 50-day simple moving average is $31.34 and its 200-day simple moving average is $26.91. Covenant Logistics Group, Inc. has a 52 week low of $18.00 and a 52 week high of $40.00. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.01 and a current ratio of 1.04. The firm has a market cap of $994.22 million, a price-to-earnings ratio of 263.33 and a beta of 1.28.

Covenant Logistics Group (NYSE:CVLG) last posted its 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 return on equity of 9.41% and a net margin of 0.42%.The company had revenue of $307.16 million during the quarter. As a group, equities research analysts expect that Covenant Logistics Group, Inc. will post 1.6 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on CVLG shares. TD Cowen lifted their target price on Covenant Logistics Group from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Wall Street Zen lowered Covenant Logistics Group from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. Finally, Zacks Research raised Covenant Logistics Group from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. One investment 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 presently 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.