Covenant Logistics Group (NYSE:CVLG) EVP Sells $160,146.80 in Stock

Covenant Logistics Group, Inc. (NYSE:CVLG) EVP Joey Ballard sold 4,282 shares of Covenant Logistics Group stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $37.40, for a total value of $160,146.80. Following the completion of the transaction, the executive vice president directly owned 20,867 shares in the company, valued at approximately $780,425.80. This represents a 17.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, May 26th, Joey Ballard sold 3,718 shares of Covenant Logistics Group stock. The stock was sold at an average price of $38.00, for a total value of $141,284.00.

Covenant Logistics Group Price Performance

Covenant Logistics Group stock opened at $39.71 on Friday. The stock’s 50 day moving average is $31.63 and its 200 day moving average is $27.00. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.04 and a quick ratio of 1.01. The firm has a market cap of $999.50 million, a P/E ratio of 264.73 and a beta of 1.28. Covenant Logistics Group, Inc. has a one year low of $18.00 and a one year high of $40.00.

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). The company had revenue of $307.16 million during the quarter. Covenant Logistics Group had a return on equity of 9.41% and a net margin of 0.42%. As a group, research analysts expect that Covenant Logistics Group, Inc. will post 1.6 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CVLG shares. TD Cowen boosted their price target on Covenant Logistics Group from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Wall Street Zen lowered Covenant Logistics Group from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. Finally, Zacks Research raised Covenant Logistics Group from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $35.00.

Hedge Funds Weigh In On Covenant Logistics Group

Several institutional investors have recently added to or reduced their stakes in the business. Quarry LP bought a new stake in shares of Covenant Logistics Group during the third quarter valued at approximately $33,000. BNP Paribas Financial Markets increased its holdings in shares of Covenant Logistics Group by 45.3% during the second quarter. BNP Paribas Financial Markets now owns 1,562 shares of the company’s stock valued at $38,000 after acquiring an additional 487 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Covenant Logistics Group during the second quarter valued at approximately $39,000. Tower Research Capital LLC TRC increased its holdings in shares of Covenant Logistics Group by 127.1% during the second quarter. Tower Research Capital LLC TRC now owns 1,971 shares of the company’s stock valued at $48,000 after acquiring an additional 1,103 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in shares of Covenant Logistics Group by 204.6% during the fourth quarter. State of Alaska Department of Revenue now owns 3,515 shares of the company’s stock valued at $77,000 after acquiring an additional 2,361 shares in the last quarter. 83.72% of the stock is owned by institutional investors and hedge funds.

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.