Covenant Logistics Group (NYSE:CVLG) CEO David Ray Parker Sells 65,000 Shares of Stock

Covenant Logistics Group, Inc. (NYSE:CVLG) CEO David Ray Parker sold 65,000 shares of Covenant Logistics Group stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $29.34, for a total transaction of $1,907,100.00. Following the transaction, the chief executive officer directly owned 2,132,944 shares in the company, valued at $62,580,576.96. This trade represents a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible 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 Thursday, February 19th, David Ray Parker sold 55,000 shares of Covenant Logistics Group stock. The stock was sold at an average price of $29.38, for a total transaction of $1,615,900.00.
• On Tuesday, February 17th, David Ray Parker sold 100,000 shares of Covenant Logistics Group stock. The stock was 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 shares were sold at an average price of $28.46, for a total transaction 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 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.
• 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 Price Performance

Shares of Covenant Logistics Group stock opened at $29.53 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.98. Covenant Logistics Group, Inc. has a one year low of $17.46 and a one year high of $30.38. The business’s 50 day simple moving average is $25.61 and its two-hundred day simple moving average is $23.13. The stock has a market capitalization of $739.73 million, a P/E ratio of 134.23 and a beta of 1.21.

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CVLG shares. 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 reaffirmed a “hold (c)” rating on shares of Covenant Logistics Group in a research report on Friday, January 9th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $30.00.

Hedge Funds Weigh In On Covenant Logistics Group

Several hedge funds and other institutional investors have recently modified their holdings of CVLG. Quarry LP purchased a new stake in Covenant Logistics Group in the third quarter worth about $33,000. BNP Paribas Financial Markets raised its position in shares of Covenant Logistics Group by 45.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,562 shares of the company’s stock worth $38,000 after acquiring an additional 487 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Covenant Logistics Group in the 2nd quarter valued at approximately $39,000. Tower Research Capital LLC TRC lifted its stake in shares of Covenant Logistics Group by 127.1% in 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 boosted its position in shares of Covenant Logistics Group by 204.6% during the fourth quarter. State of Alaska Department of Revenue now owns 3,515 shares of the company’s stock valued at $77,000 after purchasing an additional 2,361 shares in the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

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.