Covenant Logistics Group, Inc. (NASDAQ:CVLG - Get Free Report) Director D Michael Kramer sold 2,200 shares of the stock in a transaction dated 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 sale, the director now owns 24,736 shares of the company's stock, valued at approximately $563,980.80. The trade was a 8.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Covenant Logistics Group Stock Down 1.9%
CVLG stock traded down $0.42 during midday trading on Friday, hitting $22.05. The company's stock had a trading volume of 43,382 shares, compared to its average volume of 109,689. 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, Inc. has a twelve month low of $17.46 and a twelve month high of $30.77. The company's fifty day moving average price is $21.01 and its 200 day moving average price is $25.33. The stock has a market capitalization of $585.45 million, a P/E ratio of 17.03 and a beta of 1.53.
Covenant Logistics Group Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders 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 dividend yield of 1.27%. Covenant Logistics Group's payout ratio is presently 20.14%.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on CVLG. TD Cowen dropped their price target on shares of 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. Stephens reissued an "overweight" rating and issued a $36.00 price target on shares of Covenant Logistics Group in a report on Friday, January 24th.
View Our Latest Research Report on Covenant Logistics Group
Institutional Trading of Covenant Logistics Group
A number of institutional investors and hedge funds have recently made changes to their positions in CVLG. Barclays PLC lifted its holdings in shares of Covenant Logistics Group by 40.7% during the 3rd quarter. Barclays PLC now owns 36,608 shares of the company's stock worth $1,934,000 after acquiring an additional 10,584 shares during the period. JPMorgan Chase & Co. lifted its stake in Covenant Logistics Group by 21.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 31,805 shares of the company's stock valued at $1,681,000 after purchasing an additional 5,665 shares during the last quarter. SG Americas Securities LLC lifted its stake in Covenant Logistics Group by 34.0% in the 4th quarter. SG Americas Securities LLC now owns 4,715 shares of the company's stock valued at $257,000 after purchasing an additional 1,196 shares during the last quarter. Empowered Funds LLC lifted its stake in Covenant Logistics Group by 110.2% in the 4th quarter. Empowered Funds LLC now owns 188,916 shares of the company's stock valued at $10,298,000 after purchasing an additional 99,026 shares during the last quarter. Finally, Shaker Investments LLC OH lifted its stake in Covenant Logistics Group by 48.4% in the 4th quarter. Shaker Investments LLC OH now owns 15,187 shares of the company's stock valued at $828,000 after purchasing an additional 4,955 shares during the last quarter. Institutional investors own 83.72% of the company's stock.
About Covenant Logistics Group
(
Get Free Report)
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.
Further Reading
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