Covenant Logistics Group, Inc. $CVLG Shares Purchased by Royce & Associates LP

Royce & Associates LP grew its position in shares of Covenant Logistics Group, Inc. (NYSE:CVLG) by 8.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 298,648 shares of the company’s stock after purchasing an additional 23,060 shares during the period. Royce & Associates LP’s holdings in Covenant Logistics Group were worth $6,469,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in shares of Covenant Logistics Group by 52.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 31,853 shares of the company’s stock valued at $690,000 after buying an additional 10,947 shares during the period. LSV Asset Management boosted its holdings in Covenant Logistics Group by 4.5% during the 3rd quarter. LSV Asset Management now owns 452,290 shares of the company’s stock valued at $9,797,000 after acquiring an additional 19,464 shares during the period. Essex Investment Management Co. LLC grew its position in Covenant Logistics Group by 3.3% in the 3rd quarter. Essex Investment Management Co. LLC now owns 134,216 shares of the company’s stock valued at $2,907,000 after acquiring an additional 4,321 shares in the last quarter. Ranger Investment Management L.P. increased its stake in Covenant Logistics Group by 0.7% during the 3rd 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 during the period. Finally, Strs Ohio increased its stake in shares of Covenant Logistics Group by 17.3% during the third quarter. Strs Ohio now owns 26,400 shares of the company’s stock worth $572,000 after buying an additional 3,900 shares during the period. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Covenant Logistics Group Trading Up 2.3%

Shares of Covenant Logistics Group stock opened at $30.16 on Thursday. The company has a current ratio of 1.11, a quick ratio of 0.98 and a debt-to-equity ratio of 0.59. The company has a fifty day simple moving average of $26.61 and a 200-day simple moving average of $23.42. The stock has a market cap of $755.51 million, a price-to-earnings ratio of 137.10 and a beta of 1.16. Covenant Logistics Group, Inc. has a 12-month low of $17.46 and a 12-month high of $30.43.

Covenant Logistics Group (NYSE:CVLG) last announced its quarterly earnings results 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). Covenant Logistics Group had a net margin of 0.62% and a return on equity of 9.70%. The company had revenue of $295.37 million during the quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Wall Street Zen raised shares of Covenant Logistics Group from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Zacks Research lowered Covenant Logistics Group from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 21st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Covenant Logistics Group in a report on Friday, January 9th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Covenant Logistics Group currently has a consensus rating of “Hold” and a consensus target price of $30.00.

Insider Buying and Selling at Covenant Logistics Group

In related news, CEO David Ray Parker sold 30,400 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $29.18, for a total transaction of $887,072.00. Following the transaction, the chief executive officer owned 2,047,544 shares in the company, valued at $59,747,333.92. This trade represents a 1.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders sold 438,800 shares of company stock valued at $12,826,748. 35.10% of the stock is currently owned by insiders.

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.