Covenant Transportation Group, Inc. (CVTI) Holdings Boosted by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its position in Covenant Transportation Group, Inc. (NASDAQ:CVTI) by 8.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 73,107 shares of the transportation company’s stock after acquiring an additional 5,386 shares during the quarter. Victory Capital Management Inc.’s holdings in Covenant Transportation Group were worth $2,100,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Macquarie Group Ltd. bought a new stake in shares of Covenant Transportation Group in the 3rd quarter worth about $113,000. First Quadrant L P CA bought a new stake in shares of Covenant Transportation Group in the 4th quarter worth about $207,000. State Board of Administration of Florida Retirement System bought a new stake in shares of Covenant Transportation Group in the 3rd quarter worth about $217,000. Brandes Investment Partners LP bought a new stake in shares of Covenant Transportation Group in the 3rd quarter worth about $219,000. Finally, Highbridge Capital Management LLC bought a new stake in shares of Covenant Transportation Group in the 3rd quarter worth about $229,000. Hedge funds and other institutional investors own 61.79% of the company’s stock.

Shares of Covenant Transportation Group, Inc. (CVTI) opened at $26.05 on Thursday. The firm has a market cap of $466.58, a PE ratio of 29.66 and a beta of 1.56. Covenant Transportation Group, Inc. has a 1 year low of $15.86 and a 1 year high of $30.60. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.66 and a quick ratio of 1.62.

Covenant Transportation Group (NASDAQ:CVTI) last announced its quarterly earnings data on Monday, January 29th. The transportation company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). Covenant Transportation Group had a net margin of 7.94% and a return on equity of 6.63%. The business had revenue of $203.31 million for the quarter, compared to the consensus estimate of $202.40 million. During the same period in the prior year, the company earned $0.33 EPS. Covenant Transportation Group’s quarterly revenue was up 6.5% on a year-over-year basis. equities research analysts forecast that Covenant Transportation Group, Inc. will post 1.68 earnings per share for the current fiscal year.

In related news, CEO David Ray Parker sold 10,000 shares of the business’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $30.02, for a total transaction of $300,200.00. Following the completion of the sale, the chief executive officer now owns 110,580 shares of the company’s stock, valued at approximately $3,319,611.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last ninety days, insiders have sold 106,266 shares of company stock valued at $3,189,508. Insiders own 35.20% of the company’s stock.

CVTI has been the subject of several research analyst reports. ValuEngine downgraded shares of Covenant Transportation Group from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. BidaskClub raised shares of Covenant Transportation Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 7th. Zacks Investment Research downgraded shares of Covenant Transportation Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 26th. Cowen reissued a “market perform” rating and issued a $30.00 target price (up previously from $25.50) on shares of Covenant Transportation Group in a research report on Tuesday, January 30th. Finally, Seaport Global Securities reissued a “neutral” rating on shares of Covenant Transportation Group in a research report on Tuesday, January 30th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $29.67.

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About Covenant Transportation Group

Covenant Transportation Group, Inc is a provider of expedited long haul freight transportation, primarily using two-person driver teams in transcontinental lanes. The Company’s services also include refrigerated, dedicated, cross-border, regional and brokerage. The Company’s segments include Truckload and Other.

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Institutional Ownership by Quarter for Covenant Transportation Group (NASDAQ:CVTI)

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