Covenant Logistics Group (NYSE:CVLG) Director Joey Hogan Sells 12,800 Shares

Covenant Logistics Group, Inc. (NYSE:CVLG) Director Joey Hogan sold 12,800 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $39.18, for a total transaction of $501,504.00. Following the completion of the sale, the director owned 91,294 shares in the company, valued at $3,576,898.92. The trade was a 12.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Covenant Logistics Group Stock Up 2.2%

Shares of NYSE CVLG traded up $0.85 during mid-day trading on Wednesday, reaching $39.70. The company had a trading volume of 337,432 shares, compared to its average volume of 171,586. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.50. The firm has a 50 day simple moving average of $30.76 and a two-hundred day simple moving average of $26.63. The stock 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 issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.09). Covenant Logistics Group had a return on equity of 9.41% and a net margin of 0.42%.The business had revenue of $307.16 million for the quarter. Sell-side analysts predict that Covenant Logistics Group, Inc. will post 1.6 earnings per share for the current year.

Institutional Investors Weigh In On Covenant Logistics Group

Institutional investors have recently bought and sold shares of the stock. Quarry LP purchased a new stake in Covenant Logistics Group in the third quarter valued at approximately $33,000. BNP Paribas Financial Markets grew its stake in Covenant Logistics Group by 45.3% during the second quarter. BNP Paribas Financial Markets now owns 1,562 shares of the company’s stock worth $38,000 after buying an additional 487 shares during the period. Raymond James Financial Inc. purchased a new stake in Covenant Logistics Group during the second quarter worth approximately $39,000. Tower Research Capital LLC TRC grew its stake in Covenant Logistics Group by 127.1% during the second quarter. Tower Research Capital LLC TRC now owns 1,971 shares of the company’s stock worth $48,000 after buying an additional 1,103 shares during the period. Finally, State of Alaska Department of Revenue grew its stake in Covenant Logistics Group by 204.6% during the fourth quarter. State of Alaska Department of Revenue now owns 3,515 shares of the company’s stock worth $77,000 after buying an additional 2,361 shares during the period. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. TD Cowen raised their price objective on shares of Covenant Logistics Group from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Wall Street Zen cut shares of Covenant Logistics Group from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. Finally, Zacks Research upgraded shares of Covenant Logistics Group from a “strong sell” rating to a “hold” rating in a research 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’s stock. According to MarketBeat, Covenant Logistics Group has a consensus rating of “Hold” and an average target price of $35.00.

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.