Covenant Logistics Group, Inc. (NASDAQ:CVLG) Director Bradley A. Moline Sells 7,000 Shares

Covenant Logistics Group, Inc. (NASDAQ:CVLG) Director Bradley A. Moline sold 7,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $59.64, for a total transaction of $417,480.00. Following the transaction, the director now owns 46,992 shares in the company, valued at approximately $2,802,602.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Covenant Logistics Group Stock Performance

Shares of NASDAQ CVLG traded down $0.28 during midday trading on Wednesday, hitting $60.38. The company’s stock had a trading volume of 62,321 shares, compared to its average volume of 62,371. Covenant Logistics Group, Inc. has a 1-year low of $40.72 and a 1-year high of $61.54. The firm’s fifty day moving average price is $52.71 and its 200-day moving average price is $50.56. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.07 and a current ratio of 1.10. The firm has a market cap of $795.81 million, a P/E ratio of 15.02 and a beta of 1.35.

Covenant Logistics Group (NASDAQ:CVLG) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. Covenant Logistics Group had a net margin of 3.72% and a return on equity of 13.43%. The company had revenue of $287.89 million for the quarter. During the same quarter last year, the firm posted $1.13 earnings per share. On average, sell-side analysts forecast that Covenant Logistics Group, Inc. will post 4 EPS for the current fiscal year.

Covenant Logistics Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 6th were given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.73%. The ex-dividend date was Friday, September 6th. Covenant Logistics Group’s dividend payout ratio is 14.47%.

Institutional Trading of Covenant Logistics Group

Several large investors have recently added to or reduced their stakes in CVLG. AQR Capital Management LLC lifted its stake in shares of Covenant Logistics Group by 0.3% in the second quarter. AQR Capital Management LLC now owns 74,704 shares of the company’s stock worth $3,682,000 after buying an additional 236 shares during the last quarter. Townsquare Capital LLC lifted its stake in shares of Covenant Logistics Group by 7.8% in the third quarter. Townsquare Capital LLC now owns 4,921 shares of the company’s stock worth $260,000 after buying an additional 357 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Covenant Logistics Group by 7.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,491 shares of the company’s stock worth $301,000 after buying an additional 442 shares during the last quarter. Huntington National Bank acquired a new stake in shares of Covenant Logistics Group in the third quarter worth $27,000. Finally, CWM LLC lifted its stake in shares of Covenant Logistics Group by 2,336.4% in the second quarter. CWM LLC now owns 536 shares of the company’s stock worth $26,000 after buying an additional 514 shares during the last quarter. 83.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, TD Cowen dropped their price target on shares of Covenant Logistics Group from $70.00 to $69.00 and set a “buy” rating for the company in a research report on Friday, October 25th.

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.