Templeton & Phillips Capital Management LLC Boosts Position in Covenant Logistics Group, Inc. (NASDAQ:CVLG)

Templeton & Phillips Capital Management LLC increased its position in shares of Covenant Logistics Group, Inc. (NASDAQ:CVLG - Free Report) by 72.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 80,134 shares of the company's stock after purchasing an additional 33,747 shares during the quarter. Covenant Logistics Group accounts for approximately 1.3% of Templeton & Phillips Capital Management LLC's investment portfolio, making the stock its 14th largest position. Templeton & Phillips Capital Management LLC owned 0.30% of Covenant Logistics Group worth $1,779,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CVLG. GAMMA Investing LLC raised its stake in 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 acquiring an additional 1,586 shares in the last quarter. Huntington National Bank boosted its holdings 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 worth $52,000 after buying an additional 460 shares in the last quarter. Copeland Capital Management LLC bought a new position in shares of Covenant Logistics Group in the 1st quarter worth $52,000. KLP Kapitalforvaltning AS lifted its holdings in shares of Covenant Logistics Group by 100.0% in the 1st quarter. KLP Kapitalforvaltning AS now owns 2,600 shares of the company's stock worth $58,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Summit Investment Advisors Inc. raised its position in 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 buying an additional 703 shares during the last quarter. Institutional investors own 83.72% of the company's stock.

Covenant Logistics Group Stock Performance

Shares of Covenant Logistics Group stock traded up $1.07 during trading hours on Friday, hitting $26.26. 135,953 shares of the company's stock traded hands, compared to its average volume of 127,172. The company has a fifty day simple moving average of $23.73 and a 200-day simple moving average of $23.72. Covenant Logistics Group, Inc. has a 12-month low of $17.46 and a 12-month high of $30.77. The stock has a market capitalization of $697.18 million, a price-to-earnings ratio of 20.28 and a beta of 1.44. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 1.07.

Covenant Logistics Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 6th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend was Friday, June 6th. Covenant Logistics Group's dividend payout ratio (DPR) is currently 20.14%.

Analysts Set New Price Targets

Separately, TD Cowen lowered 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.

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 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 transaction, the director owned 24,736 shares in the company, valued at $563,980.80. This trade represents a 8.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company 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.