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

Ritholtz Wealth Management increased its stake in shares of Covenant Logistics Group, Inc. (NASDAQ:CVLG - Free Report) by 98.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,561 shares of the company's stock after buying an additional 15,173 shares during the quarter. Ritholtz Wealth Management owned 0.12% of Covenant Logistics Group worth $678,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Huntington National Bank raised its position 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 last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Covenant Logistics Group during the fourth quarter worth about $71,000. Summit Investment Advisors Inc. boosted its position 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 buying an additional 703 shares during the period. GAMMA Investing LLC boosted its position 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 buying an additional 1,586 shares during the period. Finally, Private Advisor Group LLC boosted its position in Covenant Logistics Group by 11.8% during the fourth 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 last quarter. Institutional investors own 83.72% of the company's stock.

Covenant Logistics Group Stock Performance

Shares of NASDAQ CVLG opened at $22.89 on Thursday. The stock has a 50 day moving average price of $21.49 and a 200 day moving average price of $24.54. Covenant Logistics Group, Inc. has a 52 week low of $17.46 and a 52 week high of $30.77. 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 stock has a market capitalization of $607.65 million, a PE ratio of 17.67 and a beta of 1.45.

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 given a dividend of $0.07 per share. The ex-dividend date is Friday, June 6th. This represents a $0.28 annualized dividend and a yield of 1.22%. Covenant Logistics Group's dividend payout ratio (DPR) is presently 20.14%.

Analyst Ratings Changes

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

Insider Buying and Selling at Covenant Logistics Group

In other Covenant Logistics Group news, Director D Michael Kramer sold 2,200 shares of the company's stock in a transaction that occurred 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 owns 24,736 shares in the company, valued at $563,980.80. This represents a 8.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 35.10% of the company's stock.

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.

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