DGS Capital Management LLC Sells 269 Shares of Covenant Logistics Group, Inc. (NASDAQ:CVLG)

DGS Capital Management LLC lessened its position in Covenant Logistics Group, Inc. (NASDAQ:CVLG) by 2.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,293 shares of the company’s stock after selling 269 shares during the period. DGS Capital Management LLC owned 0.07% of Covenant Logistics Group worth $428,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CVLG. Tower Research Capital LLC TRC lifted its holdings in Covenant Logistics Group by 299.5% in the second quarter. Tower Research Capital LLC TRC now owns 871 shares of the company’s stock worth $38,000 after buying an additional 653 shares during the period. HHM Wealth Advisors LLC grew its stake in shares of Covenant Logistics Group by 96.3% in the 3rd quarter. HHM Wealth Advisors LLC now owns 1,570 shares of the company’s stock worth $69,000 after buying an additional 770 shares during the last quarter. UBS Group AG increased its position in Covenant Logistics Group by 2,728.1% during the 3rd quarter. UBS Group AG now owns 1,810 shares of the company’s stock valued at $52,000 after buying an additional 1,746 shares in the last quarter. Citigroup Inc. raised its stake in Covenant Logistics Group by 586.8% during the second quarter. Citigroup Inc. now owns 2,747 shares of the company’s stock valued at $120,000 after buying an additional 2,347 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new position in Covenant Logistics Group in the 3rd quarter worth about $130,000. 83.72% of the stock is owned by institutional investors.

Covenant Logistics Group Stock Down 0.3 %

Shares of CVLG stock opened at $44.92 on Wednesday. The stock has a market cap of $587.10 million, a P/E ratio of 11.15 and a beta of 1.41. The company has a current ratio of 1.09, a quick ratio of 1.06 and a debt-to-equity ratio of 0.50. The company has a 50 day simple moving average of $47.75 and a two-hundred day simple moving average of $45.43. Covenant Logistics Group, Inc. has a 12 month low of $33.58 and a 12 month high of $57.57.

Covenant Logistics Group (NASDAQ:CVLG) last posted its quarterly earnings data on Tuesday, January 23rd. The company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.02. The firm had revenue of $273.99 million for the quarter. Covenant Logistics Group had a return on equity of 14.85% and a net margin of 4.98%. On average, research analysts expect that Covenant Logistics Group, Inc. will post 4.2 earnings per share for the current year.

Covenant Logistics Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 1st were paid a $0.11 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.44 annualized dividend and a yield of 0.98%. Covenant Logistics Group’s payout ratio is 10.92%.

Insider Buying and Selling

In other news, CAO Matisse Long sold 667 shares of the firm’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $50.17, for a total transaction of $33,463.39. Following the completion of the transaction, the chief accounting officer now owns 9,115 shares in the company, valued at $457,299.55. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CAO Matisse Long sold 667 shares of the business’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $50.17, for a total value of $33,463.39. Following the sale, the chief accounting officer now directly owns 9,115 shares in the company, valued at approximately $457,299.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David Ray Parker sold 55,000 shares of Covenant Logistics Group stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $51.47, for a total value of $2,830,850.00. Following the completion of the transaction, the chief executive officer now owns 196,537 shares of the company’s stock, valued at approximately $10,115,759.39. The disclosure for this sale can be found here. Over the last quarter, insiders sold 117,667 shares of company stock worth $6,078,403. 29.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. TD Cowen upgraded Covenant Logistics Group from a “market perform” rating to an “outperform” rating and increased their target price for the company from $51.00 to $66.00 in a research note on Thursday, January 25th. Vertical Research began coverage on shares of Covenant Logistics Group in a research note on Tuesday, January 23rd. They set a “buy” rating and a $70.00 target price for the company.

Covenant Logistics Group Profile

Covenant Logistics Group, Inc, together with its subsidiaries, provides transportation and logistics services in the United States. It operates through four segments: Expedited, Dedicated, Managed Freight, and Warehousing. The Expedited segment primarily provides truckload services with high service freight and delivery standards, such as 1,000 miles in 22 hours or 15-minute delivery windows.