Public Employees Retirement System of Ohio Invests $631,000 in Covenant Logistics Group, Inc. $CVLG

Public Employees Retirement System of Ohio bought a new position in shares of Covenant Logistics Group, Inc. (NYSE:CVLG) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 14,281 shares of the company’s stock, valued at approximately $631,000.

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

Covenant Logistics Group Stock Performance

Shares of CVLG stock opened at $35.24 on Thursday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.14 and a quick ratio of 1.10. The company’s fifty day moving average price is $39.31 and its two-hundred day moving average price is $35.72. The firm has a market capitalization of $894.39 million, a P/E ratio of 320.39 and a beta of 1.29. Covenant Logistics Group, Inc. has a 12 month low of $18.00 and a 12 month high of $49.88.

Covenant Logistics Group (NYSE:CVLG) last announced its earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share for the quarter. Covenant Logistics Group had a return on equity of 9.14% and a net margin of 0.31%.The company had revenue of $332.87 million during the quarter. On average, research analysts anticipate that Covenant Logistics Group, Inc. will post 1.6 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on CVLG. Wall Street Zen cut Covenant Logistics Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Citigroup started coverage on Covenant Logistics Group in a research note on Wednesday, July 15th. They issued an “outperform” rating for the company. Stephens set a $54.00 target price on Covenant Logistics Group and gave the company an “overweight” rating in a report on Friday, July 31st. Citizens Jmp started coverage on Covenant Logistics Group in a research report on Wednesday, July 15th. They set a “market outperform” rating and a $60.00 price target on the stock. Finally, Robert W. Baird set a $50.00 price target on Covenant Logistics Group and gave the stock an “outperform” rating in a report on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Covenant Logistics Group presently has an average rating of “Moderate Buy” and a consensus target price of $51.80.

Covenant Logistics Group Company Profile

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.