Patton Albertson Miller Group LLC Has $14 Million Holdings in Covenant Logistics Group, Inc. $CVLG

Patton Albertson Miller Group LLC boosted its stake in shares of Covenant Logistics Group, Inc. (NYSE:CVLG) by 0.7% in the second quarter, HoldingsChannel reports. The firm owned 580,528 shares of the company’s stock after purchasing an additional 4,278 shares during the quarter. Covenant Logistics Group accounts for about 1.8% of Patton Albertson Miller Group LLC’s holdings, making the stock its 10th largest holding. Patton Albertson Miller Group LLC’s holdings in Covenant Logistics Group were worth $13,997,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Rhumbline Advisers lifted its holdings in shares of Covenant Logistics Group by 97.7% during the first quarter. Rhumbline Advisers now owns 26,177 shares of the company’s stock worth $581,000 after buying an additional 12,937 shares in the last quarter. Brandywine Global Investment Management LLC lifted its holdings in shares of Covenant Logistics Group by 93.4% during the first quarter. Brandywine Global Investment Management LLC now owns 55,838 shares of the company’s stock worth $1,240,000 after buying an additional 26,962 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Covenant Logistics Group by 1,289.4% during the first quarter. GAMMA Investing LLC now owns 1,709 shares of the company’s stock worth $38,000 after buying an additional 1,586 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Covenant Logistics Group by 90.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 168,936 shares of the company’s stock worth $3,750,000 after buying an additional 80,151 shares in the last quarter. Finally, Strs Ohio acquired a new stake in shares of Covenant Logistics Group during the first quarter worth $500,000. Institutional investors and hedge funds own 83.72% of the company’s stock.

Covenant Logistics Group Stock Down 0.4%

CVLG stock opened at $21.54 on Friday. The company has a market cap of $538.93 million, a PE ratio of 16.44 and a beta of 1.42. The business has a 50-day simple moving average of $23.72 and a 200 day simple moving average of $22.77. Covenant Logistics Group, Inc. has a 52 week low of $17.46 and a 52 week high of $30.77. The company has a quick ratio of 1.06, a current ratio of 1.09 and a debt-to-equity ratio of 0.52.

Covenant Logistics Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 5th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.3%. Covenant Logistics Group’s payout ratio is 21.37%.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded Covenant Logistics Group from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $33.00.

Covenant Logistics Group Company 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.