Delphi Management Inc. MA Purchases 15,985 Shares of Covenant Logistics Group, Inc. (NASDAQ:CVLG)

Delphi Management Inc. MA boosted its holdings in shares of Covenant Logistics Group, Inc. (NASDAQ:CVLG - Free Report) by 231.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 22,905 shares of the company's stock after acquiring an additional 15,985 shares during the quarter. Delphi Management Inc. MA owned 0.09% of Covenant Logistics Group worth $508,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Huntington National Bank raised its stake in shares of Covenant Logistics Group by 91.5% during the 4th quarter. Huntington National Bank now owns 963 shares of the company's stock worth $52,000 after purchasing an additional 460 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Covenant Logistics Group in the 4th quarter valued at approximately $71,000. Summit Investment Advisors Inc. lifted its holdings in Covenant Logistics Group by 100.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,406 shares of the company's stock worth $77,000 after purchasing an additional 703 shares during the last quarter. GAMMA Investing LLC grew its holdings in Covenant Logistics Group by 1,289.4% during the first quarter. GAMMA Investing LLC now owns 1,709 shares of the company's stock valued at $38,000 after purchasing an additional 1,586 shares during the last quarter. Finally, Private Advisor Group LLC raised its position in shares of Covenant Logistics Group by 11.8% in the fourth 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 during the period. Hedge funds and other institutional investors own 83.72% of the company's stock.

Covenant Logistics Group Stock Performance

CVLG traded up $0.14 during trading on Wednesday, reaching $23.41. 36,293 shares of the company's stock were exchanged, compared to its average volume of 110,957. The business has a 50 day moving average price of $20.98 and a 200 day moving average price of $24.96. The company has a market capitalization of $621.54 million, a P/E ratio of 18.08 and a beta of 1.53. Covenant Logistics Group, Inc. has a fifty-two week low of $17.46 and a fifty-two week high of $30.77. 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 6th will be given a $0.07 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.28 dividend on an annualized basis and a yield of 1.20%. Covenant Logistics Group's dividend payout ratio (DPR) is presently 20.14%.

Insider Buying and Selling

In other Covenant Logistics Group news, Director D Michael Kramer sold 2,200 shares of the firm'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 completion of the sale, the director now owns 24,736 shares in the company, valued at approximately $563,980.80. This trade represents a 8.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 35.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

Covenant Logistics Group Profile

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.