Foundry Partners LLC Buys 6,256 Shares of Covenant Logistics Group, Inc. (NASDAQ:CVLG)

Foundry Partners LLC increased its position in Covenant Logistics Group, Inc. (NASDAQ:CVLG) by 9.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,551 shares of the company’s stock after buying an additional 6,256 shares during the period. Foundry Partners LLC owned 0.57% of Covenant Logistics Group worth $3,386,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Ziegler Capital Management LLC purchased a new position in Covenant Logistics Group in the 3rd quarter worth about $795,000. Ellsworth Advisors LLC purchased a new position in Covenant Logistics Group during the 3rd quarter worth $378,000. Teacher Retirement System of Texas raised its position in Covenant Logistics Group by 24.7% during the 3rd quarter. Teacher Retirement System of Texas now owns 22,302 shares of the company’s stock valued at $978,000 after purchasing an additional 4,422 shares in the last quarter. Principal Financial Group Inc. bought a new stake in Covenant Logistics Group during the 3rd quarter valued at $207,000. Finally, HHM Wealth Advisors LLC lifted its holdings in shares of Covenant Logistics Group by 96.3% in the 3rd quarter. HHM Wealth Advisors LLC now owns 1,570 shares of the company’s stock worth $69,000 after buying an additional 770 shares during the period. 83.72% of the stock is owned by hedge funds and other institutional investors.

Covenant Logistics Group Stock Down 1.8 %

Shares of NASDAQ CVLG opened at $43.89 on Tuesday. Covenant Logistics Group, Inc. has a 1 year low of $33.58 and a 1 year high of $57.57. The company has a market capitalization of $573.64 million, a P/E ratio of 10.89 and a beta of 1.41. The company has a 50 day simple moving average of $47.10 and a 200-day simple moving average of $45.45. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.09 and a quick ratio of 1.06.

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

Covenant Logistics Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 1st were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend was Thursday, February 29th. Covenant Logistics Group’s dividend payout ratio is presently 10.92%.

Analyst Upgrades and Downgrades

CVLG has been the subject of several recent research reports. Vertical Research started coverage on Covenant Logistics Group in a research report on Tuesday, January 23rd. They set a “buy” rating and a $70.00 price target for the company. TD Cowen upgraded shares of Covenant Logistics Group from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $51.00 to $66.00 in a research note on Thursday, January 25th.

Insider Activity

In related news, EVP Samuel F. Hough sold 4,000 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $51.55, for a total transaction of $206,200.00. Following the completion of the transaction, the executive vice president now owns 25,125 shares of the company’s stock, valued at approximately $1,295,193.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Matisse Long sold 667 shares of the firm’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $50.17, for a total transaction of $33,463.39. Following the completion of the transaction, the chief accounting officer now directly owns 9,115 shares in the company, valued at approximately $457,299.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Samuel F. Hough sold 4,000 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $51.55, for a total transaction of $206,200.00. Following the sale, the executive vice president now owns 25,125 shares in the company, valued at $1,295,193.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 117,667 shares of company stock valued at $6,078,403. Company insiders own 36.50% of the company’s stock.

Covenant Logistics Group Company Profile

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.