Boston Partners cut its position in Covenant Logistics Group, Inc. (NASDAQ:CVLG - Free Report) by 54.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,634 shares of the company's stock after selling 11,673 shares during the period. Boston Partners' holdings in Covenant Logistics Group were worth $525,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quantbot Technologies LP acquired a new stake in Covenant Logistics Group during the 3rd quarter worth $64,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Covenant Logistics Group by 110.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,872 shares of the company's stock worth $205,000 after acquiring an additional 2,031 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of Covenant Logistics Group in the third quarter worth about $215,000. Private Advisor Group LLC raised its position 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 purchasing an additional 481 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in shares of Covenant Logistics Group by 34.0% during 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 in the last quarter. 83.72% of the stock is owned by institutional investors.
Analyst Ratings Changes
Separately, Stephens restated an "overweight" rating and set a $36.00 target price on shares of Covenant Logistics Group in a report on Friday, January 24th.
Check Out Our Latest Report on Covenant Logistics Group
Covenant Logistics Group Stock Up 0.9 %
NASDAQ CVLG traded up $0.21 on Wednesday, reaching $22.86. The company had a trading volume of 49,972 shares, compared to its average volume of 104,486. The company's fifty day moving average is $25.87 and its 200-day moving average is $26.96. The firm has a market capitalization of $606.93 million, a price-to-earnings ratio of 17.65 and a beta of 1.45. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.07 and a current ratio of 1.10. Covenant Logistics Group, Inc. has a 1-year low of $21.52 and a 1-year high of $30.77.
Covenant Logistics Group Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Covenant Logistics Group's previous quarterly dividend of $0.06. Covenant Logistics Group's dividend payout ratio (DPR) is currently 21.71%.
Insider Buying and Selling at Covenant Logistics Group
In other Covenant Logistics Group news, CAO Matisse Long sold 2,114 shares of Covenant Logistics Group stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $28.95, for a total value of $61,200.30. Following the sale, the chief accounting officer now directly owns 15,434 shares in the company, valued at approximately $446,814.30. The trade was a 12.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 36.50% of the company's stock.
Covenant Logistics Group Company Profile
(
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.
See Also
Before you consider Covenant Logistics Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Covenant Logistics Group wasn't on the list.
While Covenant Logistics Group currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
