Universal Beteiligungs und Servicegesellschaft mbH Takes Position in Covenant Logistics Group, Inc. (NASDAQ:CVLG)

Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Covenant Logistics Group, Inc. (NASDAQ:CVLG - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 50,356 shares of the company's stock, valued at approximately $2,745,000. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.19% of Covenant Logistics Group as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of CVLG. Barclays PLC lifted its stake in shares of Covenant Logistics Group by 40.7% in the 3rd quarter. Barclays PLC now owns 36,608 shares of the company's stock valued at $1,934,000 after purchasing an additional 10,584 shares in the last quarter. SG Americas Securities LLC raised its holdings in Covenant Logistics Group by 34.0% in the fourth quarter. SG Americas Securities LLC now owns 4,715 shares of the company's stock valued at $257,000 after buying an additional 1,196 shares during the period. Empowered Funds LLC lifted its position in Covenant Logistics Group by 110.2% during the fourth quarter. Empowered Funds LLC now owns 188,916 shares of the company's stock valued at $10,298,000 after buying an additional 99,026 shares in the last quarter. Shaker Investments LLC OH grew its stake in Covenant Logistics Group by 48.4% during the fourth quarter. Shaker Investments LLC OH now owns 15,187 shares of the company's stock worth $828,000 after buying an additional 4,955 shares during the period. Finally, Private Advisor Group LLC grew its stake 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 worth $249,000 after buying an additional 481 shares during the period. Hedge funds and other institutional investors own 83.72% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Covenant Logistics Group news, Director D Michael Kramer sold 2,200 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $22.80, for a total value of $50,160.00. Following the completion of the sale, the director now owns 24,736 shares of the company's stock, valued at $563,980.80. This trade represents a 8.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 35.10% of the stock is currently owned by corporate insiders.

Covenant Logistics Group Stock Down 1.1%

Shares of CVLG traded down $0.25 during midday trading on Wednesday, reaching $23.02. 150,796 shares of the company were exchanged, compared to its average volume of 111,392. Covenant Logistics Group, Inc. has a 1-year low of $17.46 and a 1-year high of $30.77. The stock has a 50-day moving average price of $20.98 and a 200-day moving average price of $24.96. The company has a current ratio of 1.10, a quick ratio of 1.07 and a debt-to-equity ratio of 0.46. The company has a market cap of $611.18 million, a price-to-earnings ratio of 17.78 and a beta of 1.45.

Covenant Logistics Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 6th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.28 annualized dividend and a dividend yield of 1.22%. Covenant Logistics Group's payout ratio is currently 20.14%.

About Covenant Logistics Group

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.