Insider Selling: Covenant Logistics Group, Inc. (NASDAQ:CVLG) CAO Sells 2,114 Shares of Stock

Covenant Logistics Group, Inc. (NASDAQ:CVLG - Get Free Report) CAO Matisse Long sold 2,114 shares of the 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 transaction, the chief accounting officer now directly owns 15,434 shares in the company, valued at $446,814.30. The trade was a 12.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Covenant Logistics Group Price Performance

Shares of NASDAQ:CVLG traded down $0.55 during trading on Friday, hitting $27.75. 115,392 shares of the company's stock were exchanged, compared to its average volume of 114,668. The business's 50-day simple moving average is $28.59 and its 200 day simple moving average is $27.23. The company has a market cap of $731.49 million, a price-to-earnings ratio of 21.43 and a beta of 1.41. Covenant Logistics Group, Inc. has a 52-week low of $21.51 and a 52-week high of $30.77. 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 Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 6th were paid a $0.055 dividend. This represents a $0.22 annualized dividend and a dividend yield of 0.79%. The ex-dividend date was Friday, December 6th. Covenant Logistics Group's payout ratio is 16.99%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CVLG shares. Stephens restated an "overweight" rating and issued a $36.00 price objective on shares of Covenant Logistics Group in a research note on Friday, January 24th. TD Cowen reduced their price target on Covenant Logistics Group from $35.00 to $34.50 and set a "buy" rating for the company in a research report on Friday, October 25th.

Institutional Trading of Covenant Logistics Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp boosted its holdings in Covenant Logistics Group by 6.2% during the 3rd quarter. State Street Corp now owns 208,517 shares of the company's stock valued at $11,018,000 after acquiring an additional 12,138 shares during the period. Foundry Partners LLC boosted its stake in shares of Covenant Logistics Group by 6.2% during the third quarter. Foundry Partners LLC now owns 196,303 shares of the company's stock valued at $10,373,000 after purchasing an additional 11,459 shares during the period. Empowered Funds LLC grew its holdings in shares of Covenant Logistics Group by 110.2% in the fourth quarter. Empowered Funds LLC now owns 188,916 shares of the company's stock worth $10,298,000 after purchasing an additional 99,026 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Covenant Logistics Group by 24.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 109,639 shares of the company's stock worth $5,793,000 after buying an additional 21,401 shares during the period. Finally, Royce & Associates LP lifted its holdings in Covenant Logistics Group by 7.0% during the 3rd quarter. Royce & Associates LP now owns 84,536 shares of the company's stock valued at $4,467,000 after buying an additional 5,537 shares in the last quarter. Hedge funds and other institutional investors own 83.72% of the company's stock.

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.