David Ray Parker Sells 20,000 Shares of Covenant Logistics Group (NYSE:CVLG) Stock

Covenant Logistics Group, Inc. (NYSE:CVLG) CEO David Ray Parker sold 20,000 shares of the stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $29.02, for a total transaction of $580,400.00. Following the sale, the chief executive officer owned 2,312,944 shares in the company, valued at $67,121,634.88. This represents a 0.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, February 17th, David Ray Parker sold 100,000 shares of Covenant Logistics Group stock. The shares were sold at an average price of $29.67, for a total transaction of $2,967,000.00.
• On Friday, February 13th, David Ray Parker sold 15,000 shares of Covenant Logistics Group stock. The stock was sold at an average price of $28.46, for a total value of $426,900.00.
• 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 stock was sold at an average price of $29.05, for a total value of $2,033,500.00.
• On Monday, February 9th, David Ray Parker sold 56,000 shares of Covenant Logistics Group stock. The stock was sold at an average price of $28.66, for a total value of $1,604,960.00.

Covenant Logistics Group Stock Performance

Covenant Logistics Group stock opened at $29.68 on Thursday. The company has a quick ratio of 0.98, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. The stock has a market cap of $743.48 million, a PE ratio of 134.92 and a beta of 1.21. Covenant Logistics Group, Inc. has a 12-month low of $17.46 and a 12-month high of $30.18. The business’s 50-day moving average price is $25.36 and its two-hundred day moving average price is $23.04.

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CVLG. Weiss Ratings reiterated a “hold (c)” rating on shares of Covenant Logistics Group in a report on Friday, January 9th. Zacks Research cut Covenant Logistics Group from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Covenant Logistics Group currently has a consensus rating of “Hold” and a consensus target price of $30.00.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CVLG. Quarry LP bought a new stake in shares of Covenant Logistics Group in the 3rd quarter valued at about $33,000. BNP Paribas Financial Markets boosted its holdings in Covenant Logistics Group by 45.3% in 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 during the last quarter. Raymond James Financial Inc. acquired a new stake in Covenant Logistics Group during the 2nd quarter valued at approximately $39,000. Tower Research Capital LLC TRC increased its position in Covenant Logistics Group by 127.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,971 shares of the company’s stock valued at $48,000 after purchasing an additional 1,103 shares during the period. Finally, State of Alaska Department of Revenue raised its holdings in Covenant Logistics Group by 204.6% during the 4th quarter. State of Alaska Department of Revenue now owns 3,515 shares of the company’s stock worth $77,000 after purchasing an additional 2,361 shares during the last quarter. 83.72% of the stock is owned by institutional investors.

About Covenant Logistics Group

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.