Covenant Logistics Group (NYSE:CVLG) Director Joey Hogan Sells 12,800 Shares of Stock

Covenant Logistics Group, Inc. (NYSE:CVLG) Director Joey Hogan sold 12,800 shares of the firm’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 owned 91,294 shares of the company’s stock, valued at $3,576,898.92. This represents a 12.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Covenant Logistics Group Price Performance

Shares of CVLG stock opened at $39.70 on Thursday. The stock has a 50 day moving average of $31.05 and a two-hundred day moving average of $26.77. 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 $39.79. The company has a market capitalization of $999.25 million, a P/E ratio of 264.67 and a beta of 1.28.

Covenant Logistics Group (NYSE:CVLG) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $307.16 million during the quarter. As a group, equities analysts expect that Covenant Logistics Group, Inc. will post 1.6 EPS for the current year.

Analyst Ratings Changes

A number of analysts have commented on CVLG shares. Wall Street Zen downgraded Covenant Logistics Group from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. Zacks Research raised Covenant Logistics Group from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. Finally, TD Cowen lifted their price objective on Covenant Logistics Group from $30.00 to $35.00 and gave the company a “buy” rating in a report on Monday, April 27th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $35.00.

Institutional Investors Weigh In On Covenant Logistics Group

A number of institutional investors have recently added to or reduced their stakes in the stock. Man Group plc boosted its holdings in Covenant Logistics Group by 3.5% during the fourth quarter. Man Group plc now owns 10,780 shares of the company’s stock valued at $238,000 after purchasing an additional 365 shares in the last quarter. Corient Private Wealth LLC boosted its holdings in Covenant Logistics Group by 1.1% during the fourth quarter. Corient Private Wealth LLC now owns 41,740 shares of the company’s stock valued at $920,000 after purchasing an additional 446 shares in the last quarter. SG Americas Securities LLC grew its stake in Covenant Logistics Group by 4.2% during the fourth quarter. SG Americas Securities LLC now owns 11,926 shares of the company’s stock worth $263,000 after buying an additional 478 shares during the last quarter. BNP Paribas Financial Markets grew its stake in 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 buying an additional 487 shares during the last quarter. Finally, Two Sigma Investments LP grew its stake in Covenant Logistics Group by 2.7% during the third quarter. Two Sigma Investments LP now owns 40,982 shares of the company’s stock worth $888,000 after buying an additional 1,068 shares during the last quarter. 83.72% of the stock is owned by institutional investors and hedge funds.

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.