Covenant Logistics Group (CVLG) Projected to Post Earnings on Wednesday

Covenant Logistics Group (NASDAQ:CVLG - Get Free Report) is projected to post its quarterly earnings results after the market closes on Wednesday, July 23rd. Analysts expect Covenant Logistics Group to post earnings of $0.41 per share and revenue of $285.33 million for the quarter.

Covenant Logistics Group Stock Performance

Shares of NASDAQ:CVLG traded down $0.14 during trading on Friday, hitting $24.10. The stock had a trading volume of 7,225 shares, compared to its average volume of 116,154. Covenant Logistics Group has a 12-month low of $17.46 and a 12-month high of $30.77. The stock has a market capitalization of $639.96 million, a price-to-earnings ratio of 18.70 and a beta of 1.44. The company has a quick ratio of 1.07, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. The stock has a 50-day simple moving average of $23.58 and a two-hundred day simple moving average of $24.02.

Covenant Logistics Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 6th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.16%. The ex-dividend date was Friday, June 6th. Covenant Logistics Group's payout ratio is 20.14%.

Wall Street Analyst Weigh In

Separately, TD Cowen reduced 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.

Insider Activity at Covenant Logistics Group

In other news, Director D Michael Kramer sold 2,200 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $22.80, for a total value of $50,160.00. Following the completion of the sale, the director directly owned 24,736 shares in the company, valued at $563,980.80. The trade was a 8.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 35.10% of the stock is owned by company insiders.

Institutional Trading of Covenant Logistics Group

A number of institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its stake in Covenant Logistics Group by 161.8% during the first quarter. Goldman Sachs Group Inc. now owns 179,304 shares of the company's stock worth $3,981,000 after buying an additional 110,810 shares during the last quarter. AQR Capital Management LLC boosted its stake in Covenant Logistics Group by 97.5% during the first quarter. AQR Capital Management LLC now owns 88,761 shares of the company's stock worth $1,970,000 after buying an additional 43,816 shares during the last quarter. Royal Bank of Canada boosted its stake in Covenant Logistics Group by 90.5% during the first quarter. Royal Bank of Canada now owns 24,108 shares of the company's stock worth $535,000 after buying an additional 11,454 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Covenant Logistics Group by 108.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,586 shares of the company's stock worth $213,000 after buying an additional 4,985 shares during the last quarter. Finally, Jane Street Group LLC boosted its stake in Covenant Logistics Group by 27.6% during the first quarter. Jane Street Group LLC now owns 21,937 shares of the company's stock worth $487,000 after buying an additional 4,743 shares during the last quarter. 83.72% of the stock is owned by institutional investors and hedge funds.

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.