Universal Beteiligungs und Servicegesellschaft mbH Acquires Shares of 50,356 Covenant Logistics Group, Inc. (NASDAQ:CVLG)

Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Covenant Logistics Group, Inc. (NASDAQ:CVLG - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 50,356 shares of the company's stock, valued at approximately $2,745,000. Universal Beteiligungs und Servicegesellschaft mbH owned 0.19% of Covenant Logistics Group as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of CVLG. Huntington National Bank boosted its stake 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 valued at $52,000 after purchasing an additional 460 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Covenant Logistics Group in the fourth quarter worth $71,000. Summit Investment Advisors Inc. lifted its stake 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. Private Advisor Group LLC lifted its stake in shares of Covenant Logistics Group by 11.8% during the fourth quarter. Private Advisor Group LLC now owns 4,567 shares of the company's stock worth $249,000 after buying an additional 481 shares during the period. Finally, SG Americas Securities LLC lifted its stake in shares of Covenant Logistics Group by 34.0% during the fourth quarter. SG Americas Securities LLC now owns 4,715 shares of the company's stock worth $257,000 after buying an additional 1,196 shares during the period. 83.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Covenant Logistics Group

In related news, Director D Michael Kramer sold 2,200 shares of the business's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $22.80, for a total transaction of $50,160.00. Following the completion of the transaction, the director now directly owns 24,736 shares in the company, valued at $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 available at this hyperlink. 35.10% of the stock is currently owned by insiders.

Covenant Logistics Group Stock Performance

Shares of NASDAQ:CVLG traded down $0.05 on Friday, hitting $22.83. 160,920 shares of the company were exchanged, compared to its average volume of 111,787. The firm has a market capitalization of $606.19 million, a P/E ratio of 17.63 and a beta of 1.45. The stock's 50 day moving average price is $21.03 and its 200 day moving average price is $24.87. Covenant Logistics Group, Inc. has a 1-year low of $17.46 and a 1-year high of $30.77. The company has a current ratio of 1.10, a quick ratio of 1.07 and a debt-to-equity ratio of 0.46.

Covenant Logistics Group Announces Dividend

The firm also recently announced 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 of this dividend is Friday, June 6th. This represents a $0.28 dividend on an annualized basis and a yield of 1.23%. Covenant Logistics Group's dividend payout ratio is presently 20.14%.

Analyst Ratings Changes

Separately, TD Cowen lowered their price objective on shares of Covenant Logistics Group from $31.00 to $30.00 and set a "buy" rating for the company in a research note on Friday, April 25th.

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.