Covenant Logistics Group, Inc. (NASDAQ:CVLG) Shares Purchased by Legato Capital Management LLC

Legato Capital Management LLC grew its holdings in Covenant Logistics Group, Inc. (NASDAQ:CVLG - Free Report) by 97.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,709 shares of the company's stock after purchasing an additional 15,120 shares during the period. Legato Capital Management LLC owned about 0.12% of Covenant Logistics Group worth $682,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in CVLG. Patton Albertson Miller Group LLC grew its position in shares of Covenant Logistics Group by 100.0% during the 1st quarter. Patton Albertson Miller Group LLC now owns 576,250 shares of the company's stock worth $12,793,000 after buying an additional 288,125 shares in the last quarter. Foundry Partners LLC grew its position in shares of Covenant Logistics Group by 100.9% during the 1st quarter. Foundry Partners LLC now owns 434,073 shares of the company's stock worth $9,636,000 after buying an additional 217,993 shares in the last quarter. T. Rowe Price Investment Management Inc. bought a new position in shares of Covenant Logistics Group during the 4th quarter worth $8,878,000. Bridgeway Capital Management LLC grew its position in shares of Covenant Logistics Group by 56.5% during the 4th quarter. Bridgeway Capital Management LLC now owns 274,316 shares of the company's stock worth $14,953,000 after buying an additional 99,026 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Covenant Logistics Group by 95.7% during the 1st quarter. Bank of New York Mellon Corp now owns 135,250 shares of the company's stock worth $3,003,000 after buying an additional 66,135 shares in the last quarter. Institutional investors own 83.72% of the company's stock.

Covenant Logistics Group Stock Down 0.5%

CVLG stock traded down $0.13 during trading on Monday, reaching $26.08. 15,427 shares of the company traded hands, compared to its average volume of 126,820. Covenant Logistics Group, Inc. has a 12 month low of $17.46 and a 12 month high of $30.77. The business has a 50 day simple moving average of $23.79 and a 200 day simple moving average of $23.67. The company has a market capitalization of $692.42 million, a price-to-earnings ratio of 20.10 and a beta of 1.44. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.07 and a current ratio of 1.10.

Covenant Logistics Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 6th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend was Friday, June 6th. Covenant Logistics Group's payout ratio is currently 21.37%.

Insiders Place Their Bets

In other Covenant Logistics Group news, Director D Michael Kramer sold 2,200 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $22.80, for a total value of $50,160.00. Following the completion of the sale, the director directly owned 24,736 shares in the company, valued at approximately $563,980.80. This trade represents a 8.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 35.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, TD Cowen dropped their price target on Covenant Logistics Group from $31.00 to $30.00 and set a "buy" rating on the stock in a research 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.