Ritholtz Wealth Management Purchases 15,173 Shares of Covenant Logistics Group, Inc. (NASDAQ:CVLG)

Ritholtz Wealth Management raised its position in shares of Covenant Logistics Group, Inc. (NASDAQ:CVLG - Free Report) by 98.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,561 shares of the company's stock after acquiring an additional 15,173 shares during the quarter. Ritholtz Wealth Management owned about 0.12% of Covenant Logistics Group worth $678,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of CVLG. Private Advisor Group LLC lifted its stake 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 purchasing an additional 481 shares during the period. Pacific Global Investment Management Co. lifted its stake in Covenant Logistics Group by 8.2% in the fourth quarter. Pacific Global Investment Management Co. now owns 36,562 shares of the company's stock valued at $1,993,000 after buying an additional 2,775 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Covenant Logistics Group by 82.7% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 16,485 shares of the company's stock worth $899,000 after buying an additional 7,464 shares in the last quarter. Royce & Associates LP grew its position in shares of Covenant Logistics Group by 43.8% during the 4th quarter. Royce & Associates LP now owns 121,544 shares of the company's stock worth $6,625,000 after buying an additional 37,008 shares during the period. Finally, Delphi Management Inc. MA increased its stake in shares of Covenant Logistics Group by 387.3% in the 4th quarter. Delphi Management Inc. MA now owns 6,920 shares of the company's stock valued at $377,000 after acquiring an additional 5,500 shares in the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, TD Cowen dropped their target price on shares of 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.

Insiders Place Their Bets

In other Covenant Logistics Group news, Director D Michael Kramer sold 2,200 shares of the firm's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $22.80, for a total transaction of $50,160.00. Following the transaction, the director now directly owns 24,736 shares in the company, valued at approximately $563,980.80. This trade represents a 8.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 35.10% of the company's stock.

Covenant Logistics Group Stock Up 0.1%

Shares of CVLG stock traded up $0.02 on Friday, reaching $22.86. 223,761 shares of the company were exchanged, compared to its average volume of 114,197. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 1.07. The company has a 50-day moving average of $21.63 and a 200-day moving average of $24.43. The company has a market cap of $607.01 million, a price-to-earnings ratio of 17.65 and a beta of 1.45. 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 company 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 dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.22%. 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 Company 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.