Covenant Logistics Group (NYSE:CVLG) EVP Sells $160,146.80 in Stock

Covenant Logistics Group, Inc. (NYSE:CVLG) EVP Joey Ballard sold 4,282 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $37.40, for a total transaction of $160,146.80. Following the completion of the sale, the executive vice president directly owned 20,867 shares of the company’s stock, valued at $780,425.80. This trade represents a 17.03% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Joey Ballard also recently made the following trade(s):

• On Tuesday, May 26th, Joey Ballard sold 3,718 shares of Covenant Logistics Group stock. The stock was sold at an average price of $38.00, for a total transaction of $141,284.00.

Covenant Logistics Group Trading Up 2.2%

Shares of CVLG traded up $0.85 during trading hours on Wednesday, hitting $39.70. The company had a trading volume of 337,432 shares, compared to its average volume of 171,586. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.50. The stock’s 50 day moving average price is $30.76 and its 200 day moving average price is $26.63. The firm has a market cap of $999.25 million, a P/E ratio of 264.67 and a beta of 1.28. Covenant Logistics Group, Inc. has a 52-week low of $18.00 and a 52-week high of $39.79.

Covenant Logistics Group (NYSE:CVLG) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.09). Covenant Logistics Group had a net margin of 0.42% and a return on equity of 9.41%. The company had revenue of $307.16 million during the quarter. On average, research analysts predict that Covenant Logistics Group, Inc. will post 1.6 EPS for the current year.

Analyst Ratings Changes

Several research analysts have commented on CVLG shares. Wall Street Zen lowered shares of Covenant Logistics Group from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. TD Cowen boosted their price target on shares of Covenant Logistics Group from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Finally, Zacks Research upgraded shares of Covenant Logistics Group from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Covenant Logistics Group has an average rating of “Hold” and a consensus price target of $35.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CVLG. T. Rowe Price Investment Management Inc. grew its holdings in shares of Covenant Logistics Group by 46.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 714,516 shares of the company’s stock valued at $15,748,000 after buying an additional 227,216 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Covenant Logistics Group by 161.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 179,304 shares of the company’s stock worth $3,981,000 after acquiring an additional 110,810 shares during the last quarter. Algert Global LLC raised its holdings in Covenant Logistics Group by 655.0% in the 3rd quarter. Algert Global LLC now owns 110,144 shares of the company’s stock worth $2,386,000 after acquiring an additional 95,556 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Covenant Logistics Group by 19.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 363,022 shares of the company’s stock valued at $7,863,000 after purchasing an additional 58,577 shares during the last quarter. Finally, Polaris Capital Management LLC increased its holdings in shares of Covenant Logistics Group by 1,061.0% in the 4th quarter. Polaris Capital Management LLC now owns 56,682 shares of the company’s stock worth $1,249,000 after purchasing an additional 51,800 shares in the last quarter. 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.