Covenant Logistics Group (NYSE:CVLG) CEO David Ray Parker Sells 56,000 Shares of Stock

Covenant Logistics Group, Inc. (NYSE:CVLG) CEO David Ray Parker sold 56,000 shares of the stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $28.66, for a total value of $1,604,960.00. Following the completion of the sale, the chief executive officer owned 293,074 shares of the company’s stock, valued at approximately $8,399,500.84. This trade represents a 16.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

David Ray Parker also recently made the following trade(s):

• On Wednesday, February 11th, David Ray Parker sold 27,400 shares of Covenant Logistics Group stock. The shares were sold at an average price of $29.34, for a total value of $803,916.00.
• On Tuesday, February 10th, David Ray Parker sold 70,000 shares of Covenant Logistics Group stock. The shares were sold at an average price of $29.05, for a total value of $2,033,500.00.

Covenant Logistics Group Stock Performance

Shares of CVLG stock opened at $29.33 on Thursday. The firm has a market capitalization of $734.72 million, a price-to-earnings ratio of 133.32 and a beta of 1.21. The stock has a fifty day moving average of $24.67 and a 200 day moving average of $22.89. Covenant Logistics Group, Inc. has a 52 week low of $17.46 and a 52 week high of $30.19. The company has a quick ratio of 0.98, a current ratio of 1.01 and a debt-to-equity ratio of 0.49.

Covenant Logistics Group (NYSE:CVLG) last issued its quarterly earnings data on Thursday, January 29th. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). Covenant Logistics Group had a net margin of 0.62% and a return on equity of 9.57%. The company had revenue of $295.37 million for the quarter.

Institutional Investors Weigh In On Covenant Logistics Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. American Century Companies Inc. increased its stake in shares of Covenant Logistics Group by 10.1% during the second quarter. American Century Companies Inc. now owns 529,304 shares of the company’s stock valued at $12,762,000 after purchasing an additional 48,582 shares in the last quarter. LSV Asset Management grew its stake in shares of Covenant Logistics Group by 0.3% in the 4th quarter. LSV Asset Management now owns 453,604 shares of the company’s stock worth $9,997,000 after buying an additional 1,314 shares during the last quarter. CSM Advisors LLC increased its position in Covenant Logistics Group by 2.9% during the 3rd quarter. CSM Advisors LLC now owns 403,484 shares of the company’s stock valued at $8,744,000 after buying an additional 11,217 shares in the last quarter. Geode Capital Management LLC increased its position in Covenant Logistics Group by 0.9% during the 2nd quarter. Geode Capital Management LLC now owns 378,422 shares of the company’s stock valued at $9,125,000 after buying an additional 3,504 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Covenant Logistics Group by 19.2% during the third quarter. Russell Investments Group Ltd. now owns 363,022 shares of the company’s stock valued at $7,863,000 after buying an additional 58,577 shares during the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Analyst Upgrades and Downgrades

CVLG has been the subject of several research analyst reports. Zacks Research lowered shares of Covenant Logistics Group from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 21st. Weiss Ratings restated a “hold (c)” rating on shares of Covenant Logistics Group in a research note on Friday, January 9th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $30.00.

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.