Tudor Investment Corp ET AL Acquires Shares of 16,883 Covenant Logistics Group, Inc. (NASDAQ:CVLG)

Tudor Investment Corp ET AL bought a new stake in shares of Covenant Logistics Group, Inc. (NASDAQ:CVLG - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 16,883 shares of the company's stock, valued at approximately $920,000. Tudor Investment Corp ET AL owned approximately 0.06% of Covenant Logistics Group as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of CVLG. Huntington National Bank raised its holdings in shares of Covenant Logistics Group by 91.5% in the fourth quarter. Huntington National Bank now owns 963 shares of the company's stock valued at $52,000 after acquiring an additional 460 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Covenant Logistics Group in the fourth quarter worth $71,000. Summit Investment Advisors Inc. boosted its stake in shares of Covenant Logistics Group by 100.0% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,406 shares of the company's stock worth $77,000 after buying an additional 703 shares during the last quarter. Private Advisor Group LLC increased its holdings in shares of Covenant Logistics Group by 11.8% during the 4th quarter. Private Advisor Group LLC now owns 4,567 shares of the company's stock valued at $249,000 after purchasing an additional 481 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Covenant Logistics Group by 34.0% during the 4th quarter. SG Americas Securities LLC now owns 4,715 shares of the company's stock worth $257,000 after buying an additional 1,196 shares during the period. 83.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CVLG shares. TD Cowen dropped their price target on Covenant Logistics Group from $31.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Stephens reaffirmed an "overweight" rating and set a $36.00 price objective on shares of Covenant Logistics Group in a research report on Friday, January 24th.

Covenant Logistics Group Stock Down 0.7 %

Shares of Covenant Logistics Group stock traded down $0.14 on Friday, reaching $21.04. 127,274 shares of the company were exchanged, compared to its average volume of 110,117. Covenant Logistics Group, Inc. has a 1-year low of $17.46 and a 1-year high of $30.77. The stock's 50 day moving average price is $21.13 and its 200-day moving average price is $25.49. 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 company has a market cap of $558.61 million, a P/E ratio of 16.25 and a beta of 1.53.

Covenant Logistics Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were given a dividend of $0.07 per share. This is a boost from Covenant Logistics Group's previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend was Friday, March 7th. Covenant Logistics Group's dividend payout ratio is currently 20.14%.

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.