Covenant Transportation Group, Inc. (CVTI) Position Maintained by Teachers Advisors LLC

Teachers Advisors LLC continued to hold its position in Covenant Transportation Group, Inc. (NASDAQ:CVTI) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,799 shares of the transportation company’s stock at the close of the 2nd quarter. Teachers Advisors LLC owned 0.12% of Covenant Transportation Group worth $382,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the company. Alliancebernstein L.P. boosted its holdings in shares of Covenant Transportation Group by 11.6% during the second quarter. Alliancebernstein L.P. now owns 1,480,296 shares of the transportation company’s stock worth $25,950,000 after purchasing an additional 153,410 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Covenant Transportation Group by 11.5% during the second quarter. Victory Capital Management Inc. now owns 71,802 shares of the transportation company’s stock worth $1,259,000 after purchasing an additional 7,430 shares during the period. Rhumbline Advisers boosted its holdings in shares of Covenant Transportation Group by 5.9% during the second quarter. Rhumbline Advisers now owns 13,745 shares of the transportation company’s stock worth $241,000 after purchasing an additional 760 shares during the period. Wedge Capital Management L L P NC lifted its holdings in Covenant Transportation Group by 22.2% in the second quarter. Wedge Capital Management L L P NC now owns 33,600 shares of the transportation company’s stock worth $589,000 after buying an additional 6,100 shares during the period. Finally, Foundry Partners LLC lifted its holdings in Covenant Transportation Group by 2.7% in the second quarter. Foundry Partners LLC now owns 256,185 shares of the transportation company’s stock worth $4,491,000 after buying an additional 6,650 shares during the period. Institutional investors own 65.60% of the company’s stock.

Shares of Covenant Transportation Group, Inc. (NASDAQ:CVTI) opened at $29.00 on Wednesday. Covenant Transportation Group, Inc. has a 1-year low of $15.86 and a 1-year high of $30.60. The company has a market cap of $519.90, a PE ratio of 41.20 and a beta of 1.69. The company has a quick ratio of 1.62, a current ratio of 1.66 and a debt-to-equity ratio of 0.77.

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, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.08. Covenant Transportation Group had a net margin of 1.82% and a return on equity of 5.30%. The firm had revenue of $178.60 million during the quarter, compared to analyst estimates of $170.10 million. During the same period last year, the business earned $0.16 earnings per share. The business’s revenue was up 8.6% on a year-over-year basis. equities analysts anticipate that Covenant Transportation Group, Inc. will post 0.86 EPS for the current fiscal year.

CVTI has been the subject of several research analyst reports. BidaskClub upgraded shares of Covenant Transportation Group from a “strong sell” rating to a “sell” rating in a report on Thursday, August 3rd. Stephens upgraded shares of Covenant Transportation Group from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $20.00 to $25.00 in a report on Monday, August 14th. ValuEngine upgraded shares of Covenant Transportation Group from a “sell” rating to a “hold” rating in a report on Monday, August 14th. Cowen and Company restated a “buy” rating and issued a $24.00 price objective on shares of Covenant Transportation Group in a 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 report on Tuesday, August 29th. Five analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $25.63.

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In other news, President Joey B. Hogan sold 5,000 shares of Covenant Transportation Group stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $25.03, for a total transaction of $125,150.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman David Ray Parker sold 60,919 shares of Covenant Transportation Group stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $30.04, for a total transaction of $1,830,006.76. Following the transaction, the chairman now owns 110,580 shares of the company’s stock, valued at $3,321,823.20. The disclosure for this sale can be found here. Insiders have sold 442,441 shares of company stock valued at $12,823,135 over the last quarter. Company insiders own 35.20% of the company’s stock.

About Covenant Transportation Group

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.

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

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