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% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,905 shares of the company's stock after buying an additional 15,985 shares during the quarter. Delphi Management Inc. MA owned approximately 0.09% of Covenant Logistics Group worth $508,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in shares of Covenant Logistics Group by 1,289.4% during the first quarter. GAMMA Investing LLC now owns 1,709 shares of the company's stock worth $38,000 after acquiring an additional 1,586 shares during the period. Huntington National Bank boosted its holdings in shares of Covenant Logistics Group by 91.5% during the fourth quarter. Huntington National Bank now owns 963 shares of the company's stock worth $52,000 after acquiring an additional 460 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of Covenant Logistics Group during the fourth quarter worth approximately $71,000. Summit Investment Advisors Inc. boosted its holdings in shares of Covenant Logistics Group by 100.0% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,406 shares of the company's stock worth $77,000 after acquiring an additional 703 shares during the period. Finally, Private Advisor Group LLC boosted its holdings in shares of Covenant Logistics Group by 11.8% during the fourth quarter. Private Advisor Group LLC now owns 4,567 shares of the company's stock worth $249,000 after acquiring an additional 481 shares during the period. Institutional investors and hedge funds own 83.72% of the company's stock.

Analysts Set New Price Targets

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

Insider Activity at Covenant Logistics Group

In other Covenant Logistics Group news, Director D Michael Kramer sold 2,200 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $22.80, for a total transaction of $50,160.00. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 35.10% of the stock is currently owned by corporate insiders.

Covenant Logistics Group Price Performance

Shares of CVLG stock traded up $0.03 during trading on Monday, hitting $22.73. The company had a trading volume of 144,138 shares, compared to its average volume of 110,932. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.07 and a current ratio of 1.10. The firm has a market capitalization of $603.38 million, a P/E ratio of 17.55 and a beta of 1.53. The stock's 50-day moving average price is $20.98 and its 200 day moving average price is $25.01. Covenant Logistics Group, Inc. has a one year low of $17.46 and a one year high of $30.77.

Covenant Logistics Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 6th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Friday, June 6th. Covenant Logistics Group's dividend payout ratio (DPR) is currently 20.14%.

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.