Covenant Logistics Group, Inc. (NASDAQ:CVLG) Shares Sold by LSV Asset Management

LSV Asset Management cut its holdings in Covenant Logistics Group, Inc. (NASDAQ:CVLG) by 3.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 562,277 shares of the company’s stock after selling 17,113 shares during the quarter. LSV Asset Management owned 4.34% of Covenant Logistics Group worth $25,887,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of CVLG. Teacher Retirement System of Texas increased its holdings in shares of Covenant Logistics Group by 24.7% in the 3rd quarter. Teacher Retirement System of Texas now owns 22,302 shares of the company’s stock valued at $978,000 after purchasing an additional 4,422 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Covenant Logistics Group during the 3rd quarter worth approximately $207,000. HHM Wealth Advisors LLC increased its stake in Covenant Logistics Group by 96.3% in the 3rd quarter. HHM Wealth Advisors LLC now owns 1,570 shares of the company’s stock valued at $69,000 after purchasing an additional 770 shares in the last quarter. Los Angeles Capital Management LLC boosted its position in Covenant Logistics Group by 172.6% during the third quarter. Los Angeles Capital Management LLC now owns 15,130 shares of the company’s stock worth $663,000 after purchasing an additional 9,580 shares in the last quarter. Finally, Versor Investments LP grew its holdings in Covenant Logistics Group by 107.7% in the third quarter. Versor Investments LP now owns 10,415 shares of the company’s stock valued at $457,000 after purchasing an additional 5,400 shares during the last quarter. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Covenant Logistics Group Trading Up 0.3 %

NASDAQ:CVLG opened at $45.54 on Monday. The business’s 50-day simple moving average is $45.71 and its 200 day simple moving average is $45.45. Covenant Logistics Group, Inc. has a one year low of $37.50 and a one year high of $57.57. The stock has a market cap of $595.30 million, a price-to-earnings ratio of 14.60 and a beta of 1.41. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.06 and a current ratio of 1.09.

Covenant Logistics Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 1st were paid a $0.11 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.97%. Covenant Logistics Group’s dividend payout ratio (DPR) is presently 14.10%.

Wall Street Analyst Weigh In

CVLG has been the subject of several recent research reports. Vertical Research initiated coverage on Covenant Logistics Group in a research report on Tuesday, January 23rd. They set a “buy” rating and a $70.00 price target for the company. TD Cowen raised shares of Covenant Logistics Group from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $51.00 to $66.00 in a research note on Thursday, January 25th.

Insider Transactions at Covenant Logistics Group

In other Covenant Logistics Group news, CEO David Ray Parker sold 5,000 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $54.43, for a total transaction of $272,150.00. Following the transaction, the chief executive officer now owns 325,737 shares of the company’s stock, valued at approximately $17,729,864.91. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Samuel F. Hough sold 4,000 shares of Covenant Logistics Group stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $51.55, for a total value of $206,200.00. Following the completion of the transaction, the executive vice president now directly owns 25,125 shares of the company’s stock, valued at approximately $1,295,193.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO David Ray Parker sold 5,000 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $54.43, for a total transaction of $272,150.00. Following the sale, the chief executive officer now owns 325,737 shares in the company, valued at approximately $17,729,864.91. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 107,000 shares of company stock valued at $5,541,240. Insiders own 36.50% of the company’s stock.

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.