Covenant Logistics Group, Inc. (NASDAQ:CVLG) Shares Sold by DGS Capital Management LLC

DGS Capital Management LLC lowered its position in Covenant Logistics Group, Inc. (NASDAQ:CVLG) by 2.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,293 shares of the company’s stock after selling 269 shares during the quarter. DGS Capital Management LLC’s holdings in Covenant Logistics Group were worth $428,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Bank of New York Mellon Corp raised its stake in shares of Covenant Logistics Group by 5.4% during the first quarter. Bank of New York Mellon Corp now owns 91,445 shares of the company’s stock worth $1,968,000 after purchasing an additional 4,682 shares during the last quarter. American Century Companies Inc. raised its position in Covenant Logistics Group by 26.2% during the 1st quarter. American Century Companies Inc. now owns 45,345 shares of the company’s stock worth $976,000 after buying an additional 9,406 shares during the last quarter. MetLife Investment Management LLC lifted its stake in shares of Covenant Logistics Group by 57.0% in the 1st quarter. MetLife Investment Management LLC now owns 6,924 shares of the company’s stock worth $149,000 after acquiring an additional 2,514 shares during the period. LSV Asset Management lifted its stake in shares of Covenant Logistics Group by 3.5% in the 1st quarter. LSV Asset Management now owns 408,200 shares of the company’s stock worth $8,789,000 after acquiring an additional 13,800 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Covenant Logistics Group by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,141,635 shares of the company’s stock valued at $24,580,000 after purchasing an additional 12,726 shares in the last quarter. 83.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Vertical Research assumed coverage on Covenant Logistics Group in a report on Tuesday, January 23rd. They issued a “buy” rating and a $70.00 price target for the company. TD Cowen raised Covenant Logistics Group from a “market perform” rating to an “outperform” rating and raised their target price for the company from $51.00 to $66.00 in a report on Thursday, January 25th.

Insider Transactions at Covenant Logistics Group

In other news, CEO David Ray Parker sold 55,000 shares of Covenant Logistics Group stock in a transaction on Monday, February 26th. The stock was sold at an average price of $51.47, for a total transaction of $2,830,850.00. Following the completion of the transaction, the chief executive officer now owns 196,537 shares of the company’s stock, valued at approximately $10,115,759.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO David Ray Parker sold 55,000 shares of Covenant Logistics Group stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $51.47, for a total transaction of $2,830,850.00. Following the completion of the sale, the chief executive officer now owns 196,537 shares in the company, valued at approximately $10,115,759.39. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Joey B. Hogan sold 10,000 shares of Covenant Logistics Group stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $50.37, for a total value of $503,700.00. Following the sale, the director now owns 92,374 shares of the company’s stock, valued at approximately $4,652,878.38. The disclosure for this sale can be found here. Insiders sold 117,667 shares of company stock valued at $6,078,403 in the last 90 days. 29.10% of the stock is currently owned by insiders.

Covenant Logistics Group Price Performance

Covenant Logistics Group stock opened at $44.92 on Wednesday. Covenant Logistics Group, Inc. has a one year low of $33.58 and a one year high of $57.57. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.06 and a current ratio of 1.09. The business has a fifty day moving average of $47.75 and a two-hundred day moving average of $45.43. The company has a market cap of $587.10 million, a P/E ratio of 11.15 and a beta of 1.41.

Covenant Logistics Group (NASDAQ:CVLG) last released its earnings results on Tuesday, January 23rd. The company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.02. The company had revenue of $273.99 million during the quarter. Covenant Logistics Group had a return on equity of 14.85% and a net margin of 4.98%. As a group, analysts predict that Covenant Logistics Group, Inc. will post 4.2 earnings per share for the current fiscal year.

Covenant Logistics Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 1st were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend was Thursday, February 29th. Covenant Logistics Group’s dividend payout ratio (DPR) is presently 10.92%.

About Covenant Logistics Group

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.