Covenant Logistics Group, Inc. (NASDAQ:CVLG) Shares Sold by Truvestments Capital LLC

Truvestments Capital LLC cut its holdings in Covenant Logistics Group, Inc. (NASDAQ:CVLG) by 3.2% in the third quarter, Holdings Channel reports. The institutional investor owned 5,542 shares of the company’s stock after selling 181 shares during the quarter. Truvestments Capital LLC’s holdings in Covenant Logistics Group were worth $293,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CVLG. CWM LLC grew its position 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 valued at $26,000 after purchasing an additional 514 shares during the period. Innealta Capital LLC acquired a new stake in Covenant Logistics Group in the 2nd quarter valued at about $27,000. Huntington National Bank purchased a new position in Covenant Logistics Group in the 3rd quarter worth approximately $27,000. nVerses Capital LLC boosted its holdings in shares of Covenant Logistics Group by 550.0% during the 3rd quarter. nVerses Capital LLC now owns 1,300 shares of the company’s stock worth $69,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Quest Partners LLC grew its position in shares of Covenant Logistics Group by 172.1% in the second quarter. Quest Partners LLC now owns 1,978 shares of the company’s stock valued at $97,000 after purchasing an additional 1,251 shares in the last quarter. 83.72% of the stock is owned by institutional investors and hedge funds.

Covenant Logistics Group Trading Up 0.8 %

Shares of CVLG opened at $58.22 on Tuesday. The company has a current ratio of 1.10, a quick ratio of 1.07 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average price of $53.86 and a 200 day moving average price of $51.34. Covenant Logistics Group, Inc. has a 12-month low of $41.38 and a 12-month high of $61.54. The firm has a market capitalization of $767.34 million, a P/E ratio of 19.15 and a beta of 1.35.

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

Wall Street Analysts Forecast Growth

Separately, TD Cowen reduced their price objective on Covenant Logistics Group from $70.00 to $69.00 and set a “buy” rating on the stock in a research report on Friday, October 25th.

Insider Activity at Covenant Logistics Group

In other Covenant Logistics Group news, Director Bradley A. Moline sold 7,000 shares of Covenant Logistics Group stock in a transaction on Monday, November 11th. The stock was sold at an average price of $59.64, for a total value of $417,480.00. Following the sale, the director now owns 46,992 shares in the company, valued at $2,802,602.88. The trade was a 12.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 36.50% of the stock is currently owned by insiders.

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.