Polaris Capital Management LLC Decreases Stock Holdings in Covenant Logistics Group, Inc. $CVLG

Polaris Capital Management LLC cut its stake in Covenant Logistics Group, Inc. (NYSE:CVLG) by 93.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,882 shares of the company’s stock after selling 72,718 shares during the period. Polaris Capital Management LLC’s holdings in Covenant Logistics Group were worth $106,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Royal Bank of Canada grew its holdings in Covenant Logistics Group by 90.5% in the 1st quarter. Royal Bank of Canada now owns 24,108 shares of the company’s stock valued at $535,000 after buying an additional 11,454 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Covenant Logistics Group by 97.5% during the 1st quarter. AQR Capital Management LLC now owns 88,761 shares of the company’s stock valued at $1,970,000 after acquiring an additional 43,816 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Covenant Logistics Group by 108.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,586 shares of the company’s stock valued at $213,000 after purchasing an additional 4,985 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Covenant Logistics Group by 161.8% in the first quarter. Goldman Sachs Group Inc. now owns 179,304 shares of the company’s stock valued at $3,981,000 after purchasing an additional 110,810 shares during the period. Finally, Jane Street Group LLC increased its position in Covenant Logistics Group by 27.6% during the first quarter. Jane Street Group LLC now owns 21,937 shares of the company’s stock worth $487,000 after purchasing an additional 4,743 shares during the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Covenant Logistics Group Stock Performance

NYSE:CVLG opened at $25.29 on Tuesday. Covenant Logistics Group, Inc. has a fifty-two week low of $17.46 and a fifty-two week high of $29.47. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.98 and a current ratio of 1.01. The company has a 50 day moving average price of $21.47 and a 200 day moving average price of $22.57. The stock has a market capitalization of $633.51 million, a P/E ratio of 21.25 and a beta of 1.21.

Covenant Logistics Group (NYSE:CVLG) last announced its earnings results on Wednesday, October 22nd. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). Covenant Logistics Group had a net margin of 2.81% and a return on equity of 10.82%. The firm had revenue of $268.84 million during the quarter.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Covenant Logistics Group in a research note on Friday. Zacks Research upgraded Covenant Logistics Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 23rd. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Covenant Logistics Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

Covenant Logistics Group 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.