Capital Impact Advisors LLC Grows Stake in Covenant Transportation Group, Inc. (CVTI)

Capital Impact Advisors LLC grew its stake in shares of Covenant Transportation Group, Inc. (NASDAQ:CVTI) by 9.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 59,907 shares of the transportation company’s stock after acquiring an additional 5,098 shares during the period. Capital Impact Advisors LLC owned about 0.33% of Covenant Transportation Group worth $1,743,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in CVTI. Tower Research Capital LLC TRC bought a new position in Covenant Transportation Group in the 2nd quarter worth approximately $166,000. Meeder Asset Management Inc. boosted its holdings in Covenant Transportation Group by 711.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 6,339 shares of the transportation company’s stock worth $200,000 after buying an additional 5,558 shares during the period. Element Capital Management LLC bought a new position in Covenant Transportation Group in the 1st quarter worth approximately $223,000. Cubist Systematic Strategies LLC bought a new position in Covenant Transportation Group in the 1st quarter worth approximately $225,000. Finally, Bailard Inc. bought a new position in Covenant Transportation Group in the 2nd quarter worth approximately $233,000. 65.43% of the stock is owned by hedge funds and other institutional investors.

In other Covenant Transportation Group news, President Joey B. Hogan sold 7,300 shares of the stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $30.01, for a total value of $219,073.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 35.20% of the company’s stock.

CVTI opened at $25.01 on Friday. Covenant Transportation Group, Inc. has a 12 month low of $24.45 and a 12 month high of $35.19. The company has a quick ratio of 2.80, a current ratio of 2.84 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $476.18 million, a P/E ratio of 29.77 and a beta of 1.42.

Covenant Transportation Group (NASDAQ:CVTI) last posted its earnings results on Wednesday, July 25th. The transportation company reported $0.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.05. Covenant Transportation Group had a net margin of 9.09% and a return on equity of 9.77%. The business had revenue of $196.32 million for the quarter, compared to analysts’ expectations of $199.25 million. On average, equities analysts expect that Covenant Transportation Group, Inc. will post 2.13 earnings per share for the current year.

Several research analysts recently commented on the stock. ValuEngine downgraded shares of Covenant Transportation Group from a “hold” rating to a “sell” rating in a report on Friday, October 12th. BidaskClub downgraded shares of Covenant Transportation Group from a “hold” rating to a “sell” rating in a report on Tuesday, October 9th. Stephens reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Covenant Transportation Group in a report on Friday, July 27th. Finally, Wolfe Research downgraded shares of Covenant Transportation Group from a “peer perform” rating to an “underperform” rating in a report on Friday, October 5th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $36.60.

Covenant Transportation Group Company Profile

Covenant Transportation Group, Inc, together with its subsidiaries, provides truckload transportation and brokerage services primarily in the continental United States. It offers long haul, dedicated, temperature-controlled, and regional solo-driver services; long haul, regional, dedicated, and intermodal temperature-controlled services; and regional solo-driver and dedicated services.

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

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