Two Sigma Investments LP Cuts Position in Covenant Transportation Group, Inc. (NASDAQ:CVTI)

Two Sigma Investments LP lowered its holdings in Covenant Transportation Group, Inc. (NASDAQ:CVTI) by 19.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,666 shares of the transportation company’s stock after selling 5,180 shares during the quarter. Two Sigma Investments LP owned 0.12% of Covenant Transportation Group worth $188,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Citigroup Inc. grew its stake in shares of Covenant Transportation Group by 53.8% during the 4th quarter. Citigroup Inc. now owns 2,625 shares of the transportation company’s stock worth $34,000 after purchasing an additional 918 shares during the period. Aigen Investment Management LP boosted its holdings in Covenant Transportation Group by 522,500.0% during the first quarter. Aigen Investment Management LP now owns 5,226 shares of the transportation company’s stock worth $45,000 after buying an additional 5,225 shares in the last quarter. Nisa Investment Advisors LLC purchased a new stake in Covenant Transportation Group during the first quarter worth about $104,000. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Covenant Transportation Group during the first quarter worth about $137,000. Finally, UBS Group AG increased its holdings in Covenant Transportation Group by 52.3% in the fourth quarter. UBS Group AG now owns 14,728 shares of the transportation company’s stock valued at $191,000 after buying an additional 5,060 shares in the last quarter. Institutional investors own 53.62% of the company’s stock.

NASDAQ CVTI opened at $13.89 on Wednesday. The company has a quick ratio of 1.66, a current ratio of 1.68 and a debt-to-equity ratio of 0.88. Covenant Transportation Group, Inc. has a fifty-two week low of $6.54 and a fifty-two week high of $18.62. The business has a fifty day moving average of $11.77 and a 200-day moving average of $11.52. The stock has a market cap of $237.34 million, a price-to-earnings ratio of 49.61 and a beta of 1.53.

Covenant Transportation Group (NASDAQ:CVTI) last posted its quarterly earnings data on Tuesday, May 19th. The transportation company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. The firm had revenue of $213.55 million during the quarter, compared to analysts’ expectations of $193.30 million. Covenant Transportation Group had a return on equity of 1.54% and a net margin of 0.21%. As a group, analysts anticipate that Covenant Transportation Group, Inc. will post 0.16 EPS for the current year.

A number of equities research analysts recently weighed in on the company. Stephens upgraded Covenant Transportation Group from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $10.00 to $15.00 in a report on Friday, May 22nd. Wolfe Research raised Covenant Transportation Group from a “peer perform” rating to an “outperform” rating and set a $20.00 target price on the stock in a report on Thursday, May 28th. Zacks Investment Research cut Covenant Transportation Group from a “hold” rating to a “sell” rating in a research report on Wednesday, April 15th. Stifel Nicolaus upgraded shares of Covenant Transportation Group from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $15.00 to $17.00 in a research report on Wednesday, May 20th. Finally, Cowen lowered their price objective on shares of Covenant Transportation Group from $19.00 to $12.00 and set an “outperform” rating on the stock in a research note on Thursday, May 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. Covenant Transportation Group has an average rating of “Hold” and a consensus price target of $15.00.

About Covenant Transportation Group

Covenant Transportation Group, Inc, together with its subsidiaries, provides truckload transportation and brokerage services primarily in the continental United States. It offers expedited and dedicated services. The company also provides ancillary services, including freight brokerage and logistics services, warehousing, and accounts receivable factoring; and over-the-road truckload services, as well as transportation management, shuttle, and switching services.

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

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