D. E. Shaw & Co. Inc. Acquires 27,112 Shares of Covenant Logistics Group, Inc. (NASDAQ:CVLG)

D. E. Shaw & Co. Inc. increased its position in Covenant Logistics Group, Inc. (NASDAQ:CVLG - Free Report) by 111.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,508 shares of the company's stock after acquiring an additional 27,112 shares during the quarter. D. E. Shaw & Co. Inc. owned about 0.20% of Covenant Logistics Group worth $2,808,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of CVLG. T. Rowe Price Investment Management Inc. bought a new position in Covenant Logistics Group in the 4th quarter worth $8,878,000. Empowered Funds LLC raised its holdings in Covenant Logistics Group by 110.2% in the 4th quarter. Empowered Funds LLC now owns 188,916 shares of the company's stock worth $10,298,000 after acquiring an additional 99,026 shares during the period. Bridgeway Capital Management LLC raised its holdings in Covenant Logistics Group by 56.5% in the 4th quarter. Bridgeway Capital Management LLC now owns 274,316 shares of the company's stock worth $14,953,000 after acquiring an additional 99,026 shares during the period. American Century Companies Inc. raised its holdings in Covenant Logistics Group by 21.7% in the 4th quarter. American Century Companies Inc. now owns 210,350 shares of the company's stock worth $11,466,000 after acquiring an additional 37,501 shares during the period. Finally, Royce & Associates LP raised its holdings in Covenant Logistics Group by 43.8% in the 4th quarter. Royce & Associates LP now owns 121,544 shares of the company's stock worth $6,625,000 after acquiring an additional 37,008 shares during the period. Institutional investors own 83.72% of the company's stock.

Analyst Upgrades and Downgrades

Separately, TD Cowen dropped their target price on shares of Covenant Logistics Group from $31.00 to $30.00 and set a "buy" rating on the stock in a report on Friday, April 25th.

Insider Activity

In other Covenant Logistics Group news, Director D Michael Kramer sold 2,200 shares of the business's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $22.80, for a total value of $50,160.00. Following the transaction, the director now directly owns 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 at this hyperlink. 35.10% of the stock is owned by company insiders.

Covenant Logistics Group Price Performance

Shares of Covenant Logistics Group stock traded down $0.50 during trading on Friday, hitting $21.97. 140,909 shares of the company's stock traded hands, compared to its average volume of 110,151. 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's fifty day moving average price is $20.99 and its 200 day moving average price is $25.26. Covenant Logistics Group, Inc. has a twelve month low of $17.46 and a twelve month high of $30.77. The company has a market cap of $583.30 million, a PE ratio of 16.97 and a beta of 1.53.

Covenant Logistics Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 6th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, June 6th. This represents a $0.28 annualized dividend and a dividend yield of 1.27%. Covenant Logistics Group's dividend payout ratio (DPR) 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.