Covenant Logistics Group, Inc. (NASDAQ:CVLG) Director Bradley A. Moline Sells 7,000 Shares

Covenant Logistics Group, Inc. (NASDAQ:CVLG) Director Bradley A. Moline sold 7,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $59.64, for a total transaction of $417,480.00. Following the sale, the director now owns 46,992 shares of the company’s stock, valued at approximately $2,802,602.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Covenant Logistics Group Trading Down 0.5 %

NASDAQ:CVLG opened at $60.38 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 1.07. The firm has a market capitalization of $795.81 million, a price-to-earnings ratio of 19.86 and a beta of 1.35. Covenant Logistics Group, Inc. has a one year low of $40.72 and a one year high of $61.54. The business has a fifty day moving average price of $52.87 and a 200-day moving average price of $50.63.

Covenant Logistics Group (NASDAQ:CVLG) last issued its earnings results on Wednesday, October 23rd. The company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.01. The company had revenue of $287.89 million during the quarter. Covenant Logistics Group had a net margin of 3.72% and a return on equity of 13.43%. During the same period in the prior year, the company posted $1.13 EPS. Sell-side analysts forecast that Covenant Logistics Group, Inc. will post 4 EPS for the current year.

Covenant Logistics Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 6th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend was Friday, September 6th. Covenant Logistics Group’s dividend payout ratio is currently 14.47%.

Wall Street Analysts Forecast Growth

Separately, TD Cowen decreased their target price on shares of Covenant Logistics Group from $70.00 to $69.00 and set a “buy” rating for the company in a research note on Friday, October 25th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Foundry Partners LLC grew its position in shares of Covenant Logistics Group by 6.2% during the third quarter. Foundry Partners LLC now owns 196,303 shares of the company’s stock valued at $10,373,000 after purchasing an additional 11,459 shares in the last quarter. American Century Companies Inc. grew its position in Covenant Logistics Group by 29.4% in the second quarter. American Century Companies Inc. now owns 114,117 shares of the company’s stock worth $5,625,000 after acquiring an additional 25,913 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Covenant Logistics Group by 24.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 109,639 shares of the company’s stock worth $5,793,000 after acquiring an additional 21,401 shares in the last quarter. Empowered Funds LLC grew its position in Covenant Logistics Group by 5.3% in the third quarter. Empowered Funds LLC now owns 89,890 shares of the company’s stock worth $4,750,000 after acquiring an additional 4,556 shares in the last quarter. Finally, Royce & Associates LP grew its position in Covenant Logistics Group by 7.0% in the third quarter. Royce & Associates LP now owns 84,536 shares of the company’s stock worth $4,467,000 after acquiring an additional 5,537 shares in the last quarter. Hedge funds and other institutional investors own 83.72% 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.