Covenant Logistics Group (NYSE:CVLG) CEO David Ray Parker Sells 55,000 Shares

Covenant Logistics Group, Inc. (NYSE:CVLG) CEO David Ray Parker sold 55,000 shares of Covenant Logistics Group stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $29.38, for a total transaction of $1,615,900.00. Following the sale, the chief executive officer owned 2,077,944 shares in the company, valued at approximately $61,049,994.72. This represents a 2.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Friday, February 20th, David Ray Parker sold 30,400 shares of Covenant Logistics Group stock. The shares were sold at an average price of $29.18, for a total transaction of $887,072.00.
• On Wednesday, February 18th, David Ray Parker sold 65,000 shares of Covenant Logistics Group stock. The stock was sold at an average price of $29.34, for a total transaction of $1,907,100.00.
• 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 value 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 Thursday, February 12th, David Ray Parker sold 20,000 shares of Covenant Logistics Group stock. The shares were sold at an average price of $29.02, for a total value of $580,400.00.
• On Wednesday, February 11th, David Ray Parker sold 27,400 shares of Covenant Logistics Group stock. The stock was 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 transaction of $1,604,960.00.

Covenant Logistics Group Trading Up 0.4%

Shares of NYSE CVLG traded up $0.13 during midday trading on Friday, reaching $29.53. The stock had a trading volume of 183,176 shares, compared to its average volume of 187,696. The company’s 50 day moving average price is $25.49 and its 200 day moving average price is $23.08. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.98 and a current ratio of 1.01. Covenant Logistics Group, Inc. has a twelve month low of $17.46 and a twelve month high of $30.38. The firm has a market cap of $739.64 million, a price-to-earnings ratio of 134.23 and a beta of 1.21.

Covenant Logistics Group (NYSE:CVLG) last announced its 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 firm had revenue of $295.37 million for the quarter. Covenant Logistics Group had a return on equity of 9.57% and a net margin of 0.62%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Zacks Research cut Covenant Logistics Group from a “hold” rating to a “strong sell” rating in a research note on Wednesday, January 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Covenant Logistics Group in a research report on Friday, January 9th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $30.00.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Royal Bank of Canada raised its holdings in shares of Covenant Logistics Group by 90.5% in the 1st quarter. Royal Bank of Canada now owns 24,108 shares of the company’s stock worth $535,000 after acquiring an additional 11,454 shares during the last quarter. AQR Capital Management LLC increased its holdings in Covenant Logistics Group by 97.5% during the 1st quarter. AQR Capital Management LLC now owns 88,761 shares of the company’s stock worth $1,970,000 after purchasing an additional 43,816 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Covenant Logistics Group by 108.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,586 shares of the company’s stock valued at $213,000 after purchasing an additional 4,985 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Covenant Logistics Group by 161.8% in the first quarter. Goldman Sachs Group Inc. now owns 179,304 shares of the company’s stock valued at $3,981,000 after purchasing an additional 110,810 shares in the last quarter. Finally, Jane Street Group LLC grew its holdings in Covenant Logistics Group by 27.6% during the first quarter. Jane Street Group LLC now owns 21,937 shares of the company’s stock worth $487,000 after buying an additional 4,743 shares in the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

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.