Fmr LLC trimmed its holdings in shares of Covenant Transportation Group, Inc. (NASDAQ:CVTI) by 81.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 87,902 shares of the transportation company’s stock after selling 375,098 shares during the period. Fmr LLC owned about 0.48% of Covenant Transportation Group worth $1,541,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Covenant Transportation Group by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 539,993 shares of the transportation company’s stock valued at $9,467,000 after acquiring an additional 14,150 shares in the last quarter. Northern Trust Corp lifted its position in shares of Covenant Transportation Group by 3.3% in the 2nd quarter. Northern Trust Corp now owns 149,807 shares of the transportation company’s stock valued at $2,627,000 after acquiring an additional 4,760 shares in the last quarter. Penn Capital Management Co. Inc. lifted its position in shares of Covenant Transportation Group by 0.9% in the 2nd quarter. Penn Capital Management Co. Inc. now owns 319,573 shares of the transportation company’s stock valued at $5,602,000 after acquiring an additional 2,703 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Covenant Transportation Group in the 2nd quarter valued at approximately $699,000. Finally, Nationwide Fund Advisors lifted its position in shares of Covenant Transportation Group by 156.4% in the 2nd quarter. Nationwide Fund Advisors now owns 26,066 shares of the transportation company’s stock valued at $457,000 after acquiring an additional 15,900 shares in the last quarter. Institutional investors and hedge funds own 61.57% of the company’s stock.

Several equities research analysts recently commented on CVTI shares. BidaskClub downgraded shares of Covenant Transportation Group from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th. Stephens upgraded shares of Covenant Transportation Group from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $20.00 to $25.00 in a research report on Monday, August 14th. ValuEngine upgraded shares of Covenant Transportation Group from a “sell” rating to a “hold” rating in a research report on Monday, August 14th. Cowen and Company restated a “buy” rating and issued a $24.00 price target on shares of Covenant Transportation Group in a research report on Monday, August 28th. Finally, Zacks Investment Research upgraded shares of Covenant Transportation Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 29th. Five research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $25.63.

In other Covenant Transportation Group news, Chairman David Ray Parker sold 60,919 shares of the stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $30.04, for a total value of $1,830,006.76. Following the completion of the sale, the chairman now owns 110,580 shares in the company, valued at approximately $3,321,823.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Samuel F. Hough sold 2,000 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $30.00, for a total transaction of $60,000.00. Following the completion of the sale, the chief operating officer now owns 62,763 shares of the company’s stock, valued at approximately $1,882,890. The disclosure for this sale can be found here. In the last quarter, insiders sold 442,441 shares of company stock valued at $12,823,135. Insiders own 35.20% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This piece of content was published by Watch List News and is the sole property of of Watch List News. If you are viewing this piece of content on another website, it was illegally copied and republished in violation of US and international copyright & trademark laws. The legal version of this piece of content can be viewed at https://www.watchlistnews.com/fmr-llc-trims-position-in-covenant-transportation-group-inc-cvti/1689556.html.

Shares of Covenant Transportation Group, Inc. (NASDAQ CVTI) opened at $28.81 on Thursday. Covenant Transportation Group, Inc. has a 12-month low of $15.86 and a 12-month high of $30.60. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.59 and a quick ratio of 1.54. The stock has a market cap of $518.07, a P/E ratio of 41.06 and a beta of 1.69.

Covenant Transportation Group (NASDAQ:CVTI) last released its earnings results on Thursday, October 19th. The transportation company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.08. Covenant Transportation Group had a net margin of 1.82% and a return on equity of 5.35%. The company had revenue of $178.60 million during the quarter, compared to the consensus estimate of $170.10 million. During the same quarter in the prior year, the firm earned $0.16 EPS. The company’s revenue was up 8.6% compared to the same quarter last year. equities analysts expect that Covenant Transportation Group, Inc. will post 0.86 earnings per share for the current year.

Covenant Transportation Group Company Profile

Covenant Transportation Group, Inc is a provider of expedited long haul freight transportation, primarily using two-person driver teams in transcontinental lanes. The Company’s services also include refrigerated, dedicated, cross-border, regional and brokerage. The Company’s segments include Truckload and Other.

Want to see what other hedge funds are holding CVTI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Covenant Transportation Group, Inc. (NASDAQ:CVTI).

Institutional Ownership by Quarter for Covenant Transportation Group (NASDAQ:CVTI)

Receive News & Ratings for Covenant Transportation Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Covenant Transportation Group Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.