Universal Beteiligungs und Servicegesellschaft mbH Has $2.06 Million Position in Covenant Logistics Group, Inc. (NYSE:CVLG)

Universal Beteiligungs und Servicegesellschaft mbH grew its position in shares of Covenant Logistics Group, Inc. (NYSE:CVLG - Free Report) by 84.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 92,870 shares of the company's stock after buying 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 filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC raised its stake in shares of Covenant Logistics Group by 1,289.4% in the 1st quarter. GAMMA Investing LLC now owns 1,709 shares of the company's stock valued at $38,000 after acquiring an additional 1,586 shares in the last quarter. Huntington National Bank increased its position in Covenant Logistics Group by 91.5% in the 4th quarter. Huntington National Bank now owns 963 shares of the company's stock worth $52,000 after buying an additional 460 shares during the period. Copeland Capital Management LLC bought a new position in Covenant Logistics Group in the 1st quarter worth approximately $52,000. KLP Kapitalforvaltning AS bought a new position in Covenant Logistics Group in the 4th quarter worth approximately $71,000. Finally, Summit Investment Advisors Inc. increased 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 worth $77,000 after buying an additional 703 shares during the period. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Covenant Logistics Group Stock Performance

Shares of CVLG traded down $0.95 on Friday, reaching $23.20. 91,073 shares of the stock traded hands, compared to its average volume of 110,335. The firm has a market cap of $615.96 million, a price-to-earnings ratio of 17.71 and a beta of 1.41. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.09 and a quick ratio of 1.06. Covenant Logistics Group, Inc. has a 12 month low of $17.46 and a 12 month high of $30.77. The stock's 50-day moving average price is $23.97 and its 200-day moving average price is $23.61.

Covenant Logistics Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders 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 dividend yield of 1.2%. Covenant Logistics Group's payout ratio is currently 21.37%.

Analysts Set New Price Targets

Several research analysts have commented on CVLG shares. TD Cowen dropped 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. Wall Street Zen raised Covenant Logistics Group from a "hold" rating to a "buy" rating in a research report on Wednesday.

Insider Activity

In other news, Director D Michael Kramer sold 2,200 shares of the business'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 transaction of $50,160.00. Following the sale, the director directly owned 24,736 shares in the company, 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 document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 35.10% of the company's stock.

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.