Covenant Logistics Group, Inc. (NASDAQ:CVLG) CAO Matisse Long Sells 2,114 Shares

Covenant Logistics Group, Inc. (NASDAQ:CVLG) CAO Matisse Long sold 2,114 shares of Covenant Logistics Group stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $28.95, for a total value of $61,200.30. Following the sale, the chief accounting officer now owns 15,434 shares of the company’s stock, valued at approximately $446,814.30. This trade represents a 12.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Covenant Logistics Group Stock Down 0.9 %

NASDAQ:CVLG traded down $0.25 during mid-day trading on Thursday, reaching $28.31. The company’s stock had a trading volume of 77,877 shares, compared to its average volume of 124,757. The company has a quick ratio of 1.07, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. Covenant Logistics Group, Inc. has a 1 year low of $21.51 and a 1 year high of $30.77. The stock has a fifty day moving average of $28.61 and a 200-day moving average of $27.21. The firm has a market capitalization of $746.12 million, a PE ratio of 18.62 and a beta of 1.41.

Covenant Logistics Group Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 6th were given a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date was Friday, December 6th. Covenant Logistics Group’s payout ratio is currently 14.47%.

Analysts Set New Price Targets

Several research firms have issued reports on CVLG. TD Cowen lowered their price objective on shares of Covenant Logistics Group from $35.00 to $34.50 and set a “buy” rating for the company in a research report on Friday, October 25th. Stephens reiterated an “overweight” rating and issued a $36.00 price target on shares of Covenant Logistics Group in a report on Friday, January 24th.

Institutional Investors Weigh In On Covenant Logistics Group

A number of hedge funds and other institutional investors have recently bought and sold shares of CVLG. Huntington National Bank acquired a new stake in Covenant Logistics Group during the 3rd quarter worth about $27,000. Quantbot Technologies LP acquired a new position in Covenant Logistics Group in the third quarter valued at approximately $64,000. nVerses Capital LLC grew its stake in shares of Covenant Logistics Group by 550.0% during the 3rd quarter. nVerses Capital LLC now owns 1,300 shares of the company’s stock worth $69,000 after purchasing an additional 1,100 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Covenant Logistics Group by 110.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,872 shares of the company’s stock valued at $205,000 after purchasing an additional 2,031 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in Covenant Logistics Group during the third quarter worth $215,000. Hedge funds and other institutional investors own 83.72% of the company’s stock.

About Covenant Logistics Group

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.