LSV Asset Management Has $9.80 Million Holdings in Covenant Logistics Group, Inc. $CVLG

LSV Asset Management grew its holdings in Covenant Logistics Group, Inc. (NYSE:CVLG) by 4.5% in the 3rd quarter, Holdings Channel reports. The fund owned 452,290 shares of the company’s stock after purchasing an additional 19,464 shares during the quarter. LSV Asset Management’s holdings in Covenant Logistics Group were worth $9,797,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of CVLG. American Century Companies Inc. raised its stake in Covenant Logistics Group by 10.1% during the 2nd quarter. American Century Companies Inc. now owns 529,304 shares of the company’s stock valued at $12,762,000 after purchasing an additional 48,582 shares during the last quarter. CSM Advisors LLC acquired a new position in shares of Covenant Logistics Group during the second quarter valued at about $9,458,000. Geode Capital Management LLC raised its position in shares of Covenant Logistics Group by 0.9% during the second quarter. Geode Capital Management LLC now owns 378,422 shares of the company’s stock valued at $9,125,000 after buying an additional 3,504 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Covenant Logistics Group by 97.8% in the second quarter. Russell Investments Group Ltd. now owns 304,445 shares of the company’s stock valued at $7,340,000 after buying an additional 150,523 shares during the period. Finally, Ranger Investment Management L.P. grew its position in Covenant Logistics Group by 0.7% during the third quarter. Ranger Investment Management L.P. now owns 185,895 shares of the company’s stock worth $4,026,000 after buying an additional 1,320 shares in the last quarter. Institutional investors own 83.72% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on CVLG shares. Zacks Research downgraded Covenant Logistics Group from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 21st. Weiss Ratings restated a “hold (c)” rating on shares of Covenant Logistics Group in a research note on Friday, January 9th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $30.00.

Covenant Logistics Group Stock Up 1.6%

NYSE CVLG opened at $28.53 on Friday. Covenant Logistics Group, Inc. has a 1-year low of $17.46 and a 1-year high of $30.18. The company has a market capitalization of $714.68 million, a price-to-earnings ratio of 129.69 and a beta of 1.21. The stock’s 50 day moving average is $24.93 and its two-hundred day moving average is $22.93. The company has a current ratio of 1.01, a quick ratio of 0.98 and a debt-to-equity ratio of 0.49.

Covenant Logistics Group (NYSE:CVLG) last posted its earnings results on Thursday, January 29th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.01). Covenant Logistics Group had a return on equity of 9.57% and a net margin of 0.62%.The company had revenue of $295.37 million for the quarter.

Insider Activity at Covenant Logistics Group

In related news, CEO David Ray Parker sold 27,400 shares of the stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $29.34, for a total transaction of $803,916.00. Following the completion of the sale, the chief executive officer owned 2,332,944 shares in the company, valued at $68,448,576.96. This trade represents a 1.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last 90 days, insiders have sold 153,400 shares of company stock valued at $4,442,376. 35.10% of the stock is currently owned by insiders.

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.