Covenant Logistics Group, Inc. (NASDAQ:CVLG) Announces Dividend Increase - $0.07 Per Share

Covenant Logistics Group, Inc. (NASDAQ:CVLG - Get Free Report) declared a quarterly dividend on Friday, February 14th,RTT News reports. Shareholders of record on Friday, March 7th will be paid a dividend of 0.07 per share on Friday, March 28th. This represents a $0.28 annualized dividend and a yield of 1.04%. This is an increase from Covenant Logistics Group's previous quarterly dividend of $0.06.

Covenant Logistics Group Price Performance

Shares of CVLG stock traded up $0.13 on Tuesday, hitting $27.04. 8,471 shares of the stock traded hands, compared to its average volume of 102,371. 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 has a 52 week low of $21.51 and a 52 week high of $30.77. The firm has a 50 day simple moving average of $28.18 and a two-hundred day simple moving average of $27.28. The firm has a market cap of $712.64 million, a price-to-earnings ratio of 20.88 and a beta of 1.40.

Insider Buying and Selling

In other Covenant Logistics Group news, CAO Matisse Long sold 2,114 shares of the business's 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 owns 15,434 shares in the company, valued at $446,814.30. The trade was a 12.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 36.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CVLG shares. Stephens reissued an "overweight" rating and set a $36.00 price target on shares of Covenant Logistics Group in a report on Friday, January 24th. TD Cowen decreased their target price on Covenant Logistics Group from $35.00 to $34.50 and set a "buy" rating on the stock in a research note on Friday, October 25th.

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.