Nuveen Asset Management LLC Trims Stock Holdings in Covenant Logistics Group, Inc. (NASDAQ:CVLG)

Nuveen Asset Management LLC lowered its stake in shares of Covenant Logistics Group, Inc. (NASDAQ:CVLG - Free Report) by 24.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,260 shares of the company's stock after selling 17,370 shares during the quarter. Nuveen Asset Management LLC owned 0.20% of Covenant Logistics Group worth $2,849,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of CVLG. Huntington National Bank lifted its position 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 valued at $52,000 after buying an additional 460 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Covenant Logistics Group in the 4th quarter valued at about $71,000. Summit Investment Advisors Inc. raised its holdings in shares of Covenant Logistics Group by 100.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,406 shares of the company's stock valued at $77,000 after acquiring an additional 703 shares in the last quarter. Private Advisor Group LLC raised its holdings in shares of Covenant Logistics Group by 11.8% in the 4th quarter. Private Advisor Group LLC now owns 4,567 shares of the company's stock valued at $249,000 after acquiring an additional 481 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Covenant Logistics Group by 34.0% during the 4th quarter. SG Americas Securities LLC now owns 4,715 shares of the company's stock valued at $257,000 after buying an additional 1,196 shares in the last quarter. Institutional investors own 83.72% of the company's stock.

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 on Wednesday, May 21st. The stock was sold at an average price of $22.80, for a total value of $50,160.00. Following the sale, the director now directly owns 24,736 shares of the company's stock, valued at approximately $563,980.80. The trade was a 8.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 35.10% of the stock is currently owned by corporate insiders.

Covenant Logistics Group Trading Down 1.1%

Shares of CVLG stock traded down $0.25 during trading hours on Wednesday, reaching $23.02. The company's stock had a trading volume of 150,796 shares, compared to its average volume of 111,392. The stock has a market capitalization of $611.18 million, a P/E ratio of 17.78 and a beta of 1.53. Covenant Logistics Group, Inc. has a one year low of $17.46 and a one year high of $30.77. The firm's fifty day simple moving average is $20.98 and its 200 day simple moving average is $24.96. The company has a current ratio of 1.10, a quick ratio of 1.07 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. Investors of record on Friday, June 6th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.28 annualized dividend and a dividend yield of 1.22%. Covenant Logistics Group's dividend payout ratio is presently 20.14%.

Wall Street Analyst Weigh In

Separately, TD Cowen reduced 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.