Covenant Logistics Group, Inc. (NASDAQ:CVLG) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lowered its position in shares of Covenant Logistics Group, Inc. (NASDAQ:CVLG) by 1.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 763,722 shares of the company’s stock after selling 8,416 shares during the period. Dimensional Fund Advisors LP’s holdings in Covenant Logistics Group were worth $41,630,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CVLG. Private Advisor Group LLC boosted its position in shares of Covenant Logistics Group by 11.8% during the 4th quarter. Private Advisor Group LLC now owns 4,567 shares of the company’s stock worth $249,000 after acquiring an additional 481 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Covenant Logistics Group by 51.0% in the fourth quarter. JPMorgan Chase & Co. now owns 48,038 shares of the company’s stock valued at $2,619,000 after purchasing an additional 16,233 shares in the last quarter. Vanguard Group Inc. increased its stake in Covenant Logistics Group by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 464,371 shares of the company’s stock valued at $25,313,000 after purchasing an additional 1,216 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Covenant Logistics Group during the fourth quarter worth approximately $71,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Covenant Logistics Group by 82.7% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 16,485 shares of the company’s stock worth $899,000 after buying an additional 7,464 shares during the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CVLG shares. Stephens reiterated an “overweight” rating and set a $36.00 price target on shares of Covenant Logistics Group in a research note on Friday, January 24th. TD Cowen cut their target price on Covenant Logistics Group from $31.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, April 25th.

Covenant Logistics Group Stock Performance

Shares of CVLG opened at $20.94 on Friday. The company’s 50 day simple moving average is $21.54 and its 200-day simple moving average is $25.69. The firm has a market cap of $555.96 million, a PE ratio of 16.17 and a beta of 1.36. Covenant Logistics Group, Inc. has a 12-month low of $17.46 and a 12-month high of $30.77. The company has a current ratio of 1.10, a quick ratio of 1.07 and a debt-to-equity ratio of 0.46.

Covenant Logistics Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 7th were paid a $0.07 dividend. The ex-dividend date was Friday, March 7th. This is a positive change from Covenant Logistics Group’s previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a yield of 1.34%. Covenant Logistics Group’s payout ratio is currently 20.14%.

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.