D Michael Kramer Sells 2,650 Shares of Covenant Logistics Group (NYSE:CVLG) Stock

Key Points

• Director D Michael Kramer sold 2,650 shares on April 29 at an average price of $34.72 (about $92,008), trimming his stake by 10.71% to 22,086 shares valued at roughly $766,826.
• Covenant missed Q1 EPS with $0.26 vs. $0.35 expected on $307.16M revenue, and the stock fell about 2.9% to $33.84 on higher-than-average volume.
• Analysts have an average rating of Hold with a consensus price target of $35.00; the company has a market cap of $848.8M, a P/E of 225.6, and institutional ownership of about 83.7%.

Covenant Logistics Group, Inc. (NYSE:CVLG - Get Free Report) Director D Michael Kramer sold 2,650 shares of Covenant Logistics Group stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $34.72, for a total transaction of $92,008.00. Following the sale, the director directly owned 22,086 shares of the company's stock, valued at $766,825.92. This trade represents a 10.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Covenant Logistics Group Stock Down 2.9%

Shares of NYSE:CVLG traded down $1.02 during trading on Friday, reaching $33.84. 185,839 shares of the company traded hands, compared to its average volume of 166,373. The firm has a fifty day simple moving average of $28.57 and a 200 day simple moving average of $24.99. The firm has a market cap of $848.81 million, a P/E ratio of 225.60 and a beta of 1.15. Covenant Logistics Group, Inc. has a 1-year low of $18.00 and a 1-year high of $35.91. The company has a quick ratio of 1.08, a current ratio of 1.11 and a debt-to-equity ratio of 0.59.

Covenant Logistics Group (NYSE:CVLG - Get Free Report) last issued its earnings results on Thursday, April 23rd. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.35 by ($0.09). The company had revenue of $307.16 million for the quarter. Covenant Logistics Group had a net margin of 0.42% and a return on equity of 9.37%. Analysts anticipate that Covenant Logistics Group, Inc. will post 1.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Covenant Logistics Group

Institutional investors and hedge funds have recently modified their holdings of the business. Man Group plc lifted its position in Covenant Logistics Group by 3.5% during the 4th quarter. Man Group plc now owns 10,780 shares of the company's stock worth $238,000 after acquiring an additional 365 shares during the last quarter. Corient Private Wealth LLC increased its holdings in shares of Covenant Logistics Group by 1.1% during the 4th quarter. Corient Private Wealth LLC now owns 41,740 shares of the company's stock worth $920,000 after purchasing an additional 446 shares during the period. SG Americas Securities LLC increased its holdings in shares of Covenant Logistics Group by 4.2% during the 4th quarter. SG Americas Securities LLC now owns 11,926 shares of the company's stock worth $263,000 after purchasing an additional 478 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of Covenant Logistics Group by 45.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,562 shares of the company's stock worth $38,000 after purchasing an additional 487 shares during the period. Finally, Two Sigma Investments LP increased its holdings in shares of Covenant Logistics Group by 2.7% during the 3rd quarter. Two Sigma Investments LP now owns 40,982 shares of the company's stock worth $888,000 after purchasing an additional 1,068 shares during the period. Institutional investors and hedge funds own 83.72% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CVLG shares. Wall Street Zen lowered shares of Covenant Logistics Group from a "buy" rating to a "hold" rating in a research note on Sunday, March 8th. TD Cowen lifted their price objective on shares of Covenant Logistics Group from $30.00 to $35.00 and gave the company a "buy" rating in a research note on Monday. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Covenant Logistics Group in a research note on Friday, January 9th. Finally, Zacks Research raised shares of Covenant Logistics Group from a "strong sell" rating to a "hold" rating in a research note on Friday, April 3rd. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $35.00.

About Covenant Logistics Group

Covenant Logistics Group provides a comprehensive suite of transportation and logistics services across North America. The company's core offerings include less‐than‐truckload (LTL) and full truckload hauling, temperature‐controlled freight, intermodal transportation and freight brokerage. Covenant also delivers specialized solutions such as expedited “hot‐shot” deliveries, cross‐border shipping to Canada and Mexico, and dedicated contract carriage for time‐sensitive or high‐value shipments.

With a network of service centers, terminals and partner carriers strategically located throughout the United States, Covenant supports diverse industries including food and beverage, automotive, retail, energy and manufacturing.

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