Covenant Logistics Group (NYSE:CVLG) EVP Sells $141,284.00 in Stock

Covenant Logistics Group, Inc. (NYSE:CVLG) EVP Joey Ballard sold 3,718 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $38.00, for a total value of $141,284.00. Following the completion of the transaction, the executive vice president owned 17,149 shares in the company, valued at $651,662. The trade was a 17.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Joey Ballard also recently made the following trade(s):

• On Friday, May 22nd, Joey Ballard sold 4,282 shares of Covenant Logistics Group stock. The shares were sold at an average price of $37.40, for a total value of $160,146.80.

Covenant Logistics Group Price Performance

Covenant Logistics Group stock traded up $0.85 during trading hours on Wednesday, reaching $39.70. 337,432 shares of the stock were exchanged, compared to its average volume of 171,586. The company has a market cap of $999.25 million, a P/E ratio of 264.67 and a beta of 1.28. The stock has a 50 day moving average of $30.76 and a two-hundred day moving average of $26.63. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.50. Covenant Logistics Group, Inc. has a twelve month low of $18.00 and a twelve month high of $39.79.

Covenant Logistics Group (NYSE:CVLG) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.09). Covenant Logistics Group had a return on equity of 9.41% and a net margin of 0.42%.The company had revenue of $307.16 million during the quarter. Equities analysts expect that Covenant Logistics Group, Inc. will post 1.6 EPS for the current fiscal year.

Institutional Investors Weigh In On Covenant Logistics Group

A number of large investors have recently bought and sold shares of CVLG. Royal Bank of Canada raised its holdings in shares of Covenant Logistics Group by 90.5% during the first quarter. Royal Bank of Canada now owns 24,108 shares of the company’s stock valued at $535,000 after purchasing an additional 11,454 shares during the period. AQR Capital Management LLC increased its position in Covenant Logistics Group by 97.5% in the 1st quarter. AQR Capital Management LLC now owns 88,761 shares of the company’s stock valued at $1,970,000 after buying an additional 43,816 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Covenant Logistics Group by 108.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,586 shares of the company’s stock worth $213,000 after buying an additional 4,985 shares during the period. Goldman Sachs Group Inc. raised its stake in Covenant Logistics Group by 161.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 179,304 shares of the company’s stock worth $3,981,000 after buying an additional 110,810 shares during the period. Finally, Jane Street Group LLC boosted its holdings in Covenant Logistics Group by 27.6% in the first quarter. Jane Street Group LLC now owns 21,937 shares of the company’s stock worth $487,000 after acquiring an additional 4,743 shares in the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on CVLG. Zacks Research upgraded Covenant Logistics Group from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. Wall Street Zen downgraded Covenant Logistics Group from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. Finally, TD Cowen upped their target price on Covenant Logistics Group from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, April 27th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Covenant Logistics Group currently has a consensus rating of “Hold” and an average target price of $35.00.

About Covenant Logistics Group

Covenant Logistics Group provides a comprehensive suite of transportation and logistics services across North America. The company’s core offerings include less‐than‐truckload (LTL) and full truckload hauling, temperature‐controlled freight, intermodal transportation and freight brokerage. Covenant also delivers specialized solutions such as expedited “hot‐shot” deliveries, cross‐border shipping to Canada and Mexico, and dedicated contract carriage for time‐sensitive or high‐value shipments.

With a network of service centers, terminals and partner carriers strategically located throughout the United States, Covenant supports diverse industries including food and beverage, automotive, retail, energy and manufacturing.