Universal Beteiligungs und Servicegesellschaft mbH Buys 42,514 Shares of Covenant Logistics Group, Inc. (NYSE:CVLG)

Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of Covenant Logistics Group, Inc. (NYSE:CVLG - Free Report) by 84.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 92,870 shares of the company's stock after acquiring an additional 42,514 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.35% of Covenant Logistics Group worth $2,062,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Patton Albertson Miller Group LLC raised its position in shares of Covenant Logistics Group by 100.0% during the first quarter. Patton Albertson Miller Group LLC now owns 576,250 shares of the company's stock worth $12,793,000 after purchasing an additional 288,125 shares during the period. Foundry Partners LLC raised its position in shares of Covenant Logistics Group by 100.9% during the first quarter. Foundry Partners LLC now owns 434,073 shares of the company's stock worth $9,636,000 after purchasing an additional 217,993 shares during the period. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Covenant Logistics Group during the fourth quarter worth about $8,878,000. Bridgeway Capital Management LLC raised its position in shares of Covenant Logistics Group by 56.5% during the fourth quarter. Bridgeway Capital Management LLC now owns 274,316 shares of the company's stock worth $14,953,000 after purchasing an additional 99,026 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Covenant Logistics Group by 95.7% during the first quarter. Bank of New York Mellon Corp now owns 135,250 shares of the company's stock worth $3,003,000 after purchasing an additional 66,135 shares during the period. Institutional investors own 83.72% of the company's stock.

Insiders Place Their Bets

In other Covenant Logistics Group news, Director D Michael Kramer sold 2,200 shares of the company'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 sale, the director owned 24,736 shares in the company, valued at approximately $563,980.80. The trade was a 8.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 35.10% of the stock is owned by corporate insiders.

Covenant Logistics Group Price Performance

Shares of Covenant Logistics Group stock traded down $0.95 during trading on Friday, reaching $23.20. 91,073 shares of the company's stock were exchanged, compared to its average volume of 110,335. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.06 and a current ratio of 1.09. Covenant Logistics Group, Inc. has a 1-year low of $17.46 and a 1-year high of $30.77. The company has a market cap of $615.96 million, a P/E ratio of 17.71 and a beta of 1.41. The firm's 50-day moving average price is $23.97 and its 200 day moving average price is $23.64.

Covenant Logistics Group Dividend Announcement

The company 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. The ex-dividend date was Friday, June 6th. This represents a $0.28 dividend on an annualized basis and a yield of 1.2%. Covenant Logistics Group's payout ratio is currently 21.37%.

Wall Street Analyst Weigh In

CVLG has been the topic of a number of recent research reports. Wall Street Zen raised Covenant Logistics Group from a "hold" rating to a "buy" rating in a research report on Wednesday. TD Cowen dropped their target price 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 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.