Foundry Partners LLC Buys 217,993 Shares of Covenant Logistics Group, Inc. (NASDAQ:CVLG)

Foundry Partners LLC increased its holdings in Covenant Logistics Group, Inc. (NASDAQ:CVLG - Free Report) by 100.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 434,073 shares of the company's stock after purchasing an additional 217,993 shares during the quarter. Foundry Partners LLC owned 1.63% of Covenant Logistics Group worth $9,636,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in CVLG. Patton Albertson Miller Group LLC grew its holdings in Covenant Logistics Group by 100.0% in the 1st quarter. Patton Albertson Miller Group LLC now owns 576,250 shares of the company's stock worth $12,793,000 after acquiring an additional 288,125 shares during the last quarter. Vanguard Group Inc. grew its holdings in Covenant Logistics Group by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 464,371 shares of the company's stock worth $25,313,000 after acquiring an additional 1,216 shares during the last quarter. Bridgeway Capital Management LLC grew 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 last quarter. American Century Companies Inc. grew 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 last quarter. Finally, T. Rowe Price Investment Management Inc. bought a new stake in Covenant Logistics Group in the 4th quarter worth $8,878,000. Hedge funds and other institutional investors own 83.72% of the company's stock.

Insider Transactions at Covenant Logistics Group

In related news, Director D Michael Kramer sold 2,200 shares of the company's stock in a transaction 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 sale, the director owned 24,736 shares of the company's stock, valued at $563,980.80. This represents a 8.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 35.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

Covenant Logistics Group Price Performance

Shares of NASDAQ:CVLG traded down $0.68 during midday trading on Friday, reaching $23.56. 89,392 shares of the company were exchanged, compared to its average volume of 116,873. The company has a current ratio of 1.10, a quick ratio of 1.07 and a debt-to-equity ratio of 0.46. The business's fifty day moving average is $23.63 and its two-hundred day moving average is $23.78. Covenant Logistics Group, Inc. has a one year low of $17.46 and a one year high of $30.77. The stock has a market cap of $625.57 million, a PE ratio of 18.19 and a beta of 1.44.

Covenant Logistics Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 6th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend was Friday, June 6th. Covenant Logistics Group's payout ratio is 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.