Covenant Logistics Group (NYSE:CVLG) CEO Sells $803,916.00 in Stock

Covenant Logistics Group, Inc. (NYSE:CVLG) CEO David Ray Parker sold 27,400 shares of the stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $29.34, for a total value of $803,916.00. Following the transaction, the chief executive officer directly owned 2,332,944 shares in the company, valued at $68,448,576.96. The trade was a 1.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• 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 shares were sold at an average price of $28.66, for a total value of $1,604,960.00.

Covenant Logistics Group Stock Performance

Shares of NYSE:CVLG traded up $0.09 during trading on Wednesday, hitting $29.33. The company’s stock had a trading volume of 150,683 shares, compared to its average volume of 175,617. 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 12 month low of $17.46 and a 12 month high of $30.19. The firm has a market cap of $734.63 million, a price-to-earnings ratio of 133.32 and a beta of 1.21. The company has a 50-day moving average of $24.51 and a 200-day moving average of $22.84.

Covenant Logistics Group (NYSE:CVLG) last posted its quarterly earnings data 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 for the quarter. Covenant Logistics Group had a net margin of 0.62% and a return on equity of 9.57%.

Hedge Funds Weigh In On Covenant Logistics Group

Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC raised its holdings in shares of Covenant Logistics Group by 4.2% in the fourth quarter. SG Americas Securities LLC now owns 11,926 shares of the company’s stock valued at $263,000 after acquiring an additional 478 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in Covenant Logistics Group by 45.3% during 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. Inspire Investing LLC increased its position in Covenant Logistics Group by 3.5% during the 2nd quarter. Inspire Investing LLC now owns 16,083 shares of the company’s stock valued at $388,000 after purchasing an additional 541 shares during the period. Empowered Funds LLC raised its holdings in shares of Covenant Logistics Group by 0.4% in the 2nd quarter. Empowered Funds LLC now owns 173,532 shares of the company’s stock valued at $4,184,000 after purchasing an additional 744 shares in the last quarter. Finally, Two Sigma Investments LP lifted its position in shares of Covenant Logistics Group by 2.7% in the 3rd quarter. Two Sigma Investments LP now owns 40,982 shares of the company’s stock worth $888,000 after purchasing an additional 1,068 shares during the period. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on CVLG. Zacks Research cut Covenant Logistics Group from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 21st. Weiss Ratings restated a “hold (c)” rating on shares of Covenant Logistics Group in a 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $30.00.

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.