Bank of America Corp DE Has $564,000 Stake in Covenant Transportation Group, Inc. (CVTI)

Share on StockTwits

Bank of America Corp DE lifted its holdings in shares of Covenant Transportation Group, Inc. (NASDAQ:CVTI) by 93.2% during the 4th quarter, Holdings Channel reports. The firm owned 29,356 shares of the transportation company’s stock after acquiring an additional 14,165 shares during the period. Bank of America Corp DE’s holdings in Covenant Transportation Group were worth $564,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. First Quadrant L P CA acquired a new stake in shares of Covenant Transportation Group during the fourth quarter worth $253,000. First Trust Advisors LP raised its position in shares of Covenant Transportation Group by 18.7% in the 4th quarter. First Trust Advisors LP now owns 22,201 shares of the transportation company’s stock worth $426,000 after buying an additional 3,496 shares during the period. Martingale Asset Management L P raised its position in shares of Covenant Transportation Group by 13.5% in the 4th quarter. Martingale Asset Management L P now owns 50,532 shares of the transportation company’s stock worth $972,000 after buying an additional 6,001 shares during the period. Bank of Montreal Can raised its position in shares of Covenant Transportation Group by 14.0% in the 4th quarter. Bank of Montreal Can now owns 83,811 shares of the transportation company’s stock worth $1,609,000 after buying an additional 10,262 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in shares of Covenant Transportation Group by 26.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 53,454 shares of the transportation company’s stock worth $1,026,000 after buying an additional 11,283 shares during the period. Institutional investors and hedge funds own 63.91% of the company’s stock.

Shares of CVTI opened at $17.36 on Monday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.63 and a current ratio of 1.70. The firm has a market capitalization of $318.87 million, a P/E ratio of 7.36 and a beta of 1.58. Covenant Transportation Group, Inc. has a twelve month low of $17.17 and a twelve month high of $35.19.

Covenant Transportation Group (NASDAQ:CVTI) last released its quarterly earnings data on Thursday, April 25th. The transportation company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.20 by $0.07. Covenant Transportation Group had a return on equity of 13.27% and a net margin of 4.57%. The company had revenue of $219.18 million for the quarter, compared to analyst estimates of $226.90 million. Equities research analysts expect that Covenant Transportation Group, Inc. will post 2.11 EPS for the current year.

Several research analysts recently weighed in on CVTI shares. ValuEngine lowered Covenant Transportation Group from a “sell” rating to a “strong sell” rating in a research report on Friday, March 15th. Stephens set a $31.00 target price on Covenant Transportation Group and gave the stock a “buy” rating in a research report on Thursday, January 24th. BidaskClub lowered Covenant Transportation Group from a “sell” rating to a “strong sell” rating in a research report on Tuesday, March 5th. Cowen reaffirmed a “market perform” rating and issued a $23.00 target price (down from $27.00) on shares of Covenant Transportation Group in a research report on Tuesday, March 19th. Finally, Zacks Investment Research raised Covenant Transportation Group from a “sell” rating to a “hold” rating in a research report on Thursday, January 24th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $28.00.

TRADEMARK VIOLATION NOTICE: This report was published by Ticker Report and is the sole property of of Ticker Report. If you are viewing this report on another publication, it was stolen and reposted in violation of U.S. and international trademark and copyright legislation. The legal version of this report can be read at https://www.tickerreport.com/banking-finance/4346997/bank-of-america-corp-de-has-564000-stake-in-covenant-transportation-group-inc-cvti.html.

Covenant Transportation Group Company Profile

Covenant Transportation Group, Inc, together with its subsidiaries, provides truckload transportation and brokerage services primarily in the continental United States. It offers expedited and dedicated services. The company also provides ancillary services, including freight brokerage and logistics services, warehousing, and accounts receivable factoring; and over-the-road truckload services, as well as transportation management, shuttle, and switching services.

See Also: Are FAANG stocks a good investment?

Want to see what other hedge funds are holding CVTI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Covenant Transportation Group, Inc. (NASDAQ:CVTI).

Institutional Ownership by Quarter for Covenant Transportation Group (NASDAQ:CVTI)

Receive News & Ratings for Covenant Transportation Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Covenant Transportation Group and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Amplify BlackSwan Growth & Treasury Core ETF  Trading 0.3% Higher
Amplify BlackSwan Growth & Treasury Core ETF Trading 0.3% Higher
HAIER ELECTRONI/ADR  Shares Up 3.6%
HAIER ELECTRONI/ADR Shares Up 3.6%
PT ASTRA INTL T/ADR  Stock Price Down 2.4%
PT ASTRA INTL T/ADR Stock Price Down 2.4%
Roxgold  Stock Price Down 3.7%
Roxgold Stock Price Down 3.7%
Mitchell Services Ltd Declares Interim Dividend of $0.00
Mitchell Services Ltd Declares Interim Dividend of $0.00
British American Tobacco PLC  to Issue Quarterly Dividend of $0.67
British American Tobacco PLC to Issue Quarterly Dividend of $0.67


© 2006-2019 Ticker Report