Covenant Logistics Group, Inc. (NASDAQ:CVLG) Shares Sold by LSV Asset Management

LSV Asset Management reduced its holdings in shares of Covenant Logistics Group, Inc. (NASDAQ:CVLG - Free Report) by 3.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 562,277 shares of the company's stock after selling 17,113 shares during the period. LSV Asset Management owned approximately 4.34% of Covenant Logistics Group worth $25,887,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Summit Global Investments purchased a new stake in Covenant Logistics Group during the 4th quarter worth approximately $302,000. Foundry Partners LLC raised its position in shares of Covenant Logistics Group by 9.3% in the fourth quarter. Foundry Partners LLC now owns 73,551 shares of the company's stock valued at $3,386,000 after buying an additional 6,256 shares during the last quarter. Strs Ohio grew its position in shares of Covenant Logistics Group by 2.4% in the fourth quarter. Strs Ohio now owns 13,000 shares of the company's stock valued at $598,000 after purchasing an additional 300 shares in the last quarter. Legato Capital Management LLC purchased a new stake in shares of Covenant Logistics Group in the fourth quarter valued at about $510,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Covenant Logistics Group during the 4th quarter worth about $221,000. Institutional investors and hedge funds own 83.72% of the company's stock.

Covenant Logistics Group Price Performance

CVLG traded up $0.21 during trading on Monday, reaching $45.75. The stock had a trading volume of 40,754 shares, compared to its average volume of 71,232. The stock has a 50 day moving average of $45.60 and a two-hundred day moving average of $45.48. The firm has a market capitalization of $598.04 million, a price-to-earnings ratio of 14.66 and a beta of 1.41. Covenant Logistics Group, Inc. has a 1-year low of $37.50 and a 1-year high of $57.57. The company has a quick ratio of 1.06, a current ratio of 1.09 and a debt-to-equity ratio of 0.50.

Covenant Logistics Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 1st were issued a $0.11 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.96%. Covenant Logistics Group's dividend payout ratio is 14.10%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. TD Cowen raised shares of Covenant Logistics Group from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $51.00 to $66.00 in a research report on Thursday, January 25th. Vertical Research began coverage on shares of Covenant Logistics Group in a research report on Tuesday, January 23rd. They set a "buy" rating and a $70.00 price target for the company.

Insider Transactions at Covenant Logistics Group

In related news, EVP Samuel F. Hough sold 4,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $51.55, for a total value of $206,200.00. Following the transaction, the executive vice president now directly owns 25,125 shares of the company's stock, valued at approximately $1,295,193.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO David Ray Parker sold 20,000 shares of the business's stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $51.94, for a total value of $1,038,800.00. Following the sale, the chief executive officer now owns 305,737 shares of the company's stock, valued at approximately $15,879,979.78. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Samuel F. Hough sold 4,000 shares of the business's stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $51.55, for a total value of $206,200.00. Following the completion of the transaction, the executive vice president now directly owns 25,125 shares in the company, valued at $1,295,193.75. The disclosure for this sale can be found here. Insiders sold 107,000 shares of company stock valued at $5,541,240 over the last three months. 36.50% of the stock is owned by corporate insiders.

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.