American Century Companies Inc. Has $11.47 Million Position in Covenant Logistics Group, Inc. (NASDAQ:CVLG)

American Century Companies Inc. lifted its position in shares of Covenant Logistics Group, Inc. (NASDAQ:CVLG - Free Report) by 21.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 210,350 shares of the company's stock after purchasing an additional 37,501 shares during the quarter. American Century Companies Inc. owned about 0.80% of Covenant Logistics Group worth $11,466,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in shares of Covenant Logistics Group by 24.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 109,639 shares of the company's stock valued at $5,793,000 after acquiring an additional 21,401 shares in the last quarter. FMR LLC boosted its holdings in Covenant Logistics Group by 3,423.0% in the third quarter. FMR LLC now owns 46,151 shares of the company's stock worth $2,439,000 after purchasing an additional 44,841 shares during the period. Quantbot Technologies LP bought a new position in shares of Covenant Logistics Group in the 3rd quarter worth about $64,000. BNP Paribas Financial Markets grew its position in shares of Covenant Logistics Group by 125.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 17,533 shares of the company's stock valued at $926,000 after buying an additional 9,766 shares during the last quarter. Finally, Townsquare Capital LLC grew its holdings in shares of Covenant Logistics Group by 7.8% during the third quarter. Townsquare Capital LLC now owns 4,921 shares of the company's stock valued at $260,000 after purchasing an additional 357 shares during the last quarter. Institutional investors and hedge funds own 83.72% of the company's stock.

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Analysts Set New Price Targets

Separately, Stephens reissued an "overweight" rating and set a $36.00 target price on shares of Covenant Logistics Group in a research note on Friday, January 24th.

Insider Activity

In other news, CAO Matisse Long sold 2,114 shares of the business's stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $28.95, for a total transaction of $61,200.30. Following the sale, the chief accounting officer now directly owns 15,434 shares of the company's stock, valued at $446,814.30. The trade was a 12.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 36.50% of the company's stock.

Covenant Logistics Group Price Performance

CVLG stock traded down $2.58 during trading on Thursday, hitting $20.54. The company had a trading volume of 214,635 shares, compared to its average volume of 107,312. Covenant Logistics Group, Inc. has a fifty-two week low of $20.50 and a fifty-two week high of $30.77. The firm has a market capitalization of $545.28 million, a price-to-earnings ratio of 15.86 and a beta of 1.45. The business has a 50 day moving average of $25.24 and a 200 day moving average of $26.82. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 7th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.36%. This is an increase from Covenant Logistics Group's previous quarterly dividend of $0.06. The ex-dividend date was Friday, March 7th. Covenant Logistics Group's dividend payout ratio is presently 21.71%.

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.