Foundry Partners LLC Purchases 19,777 Shares of Covenant Logistics Group, Inc. (NASDAQ:CVLG)

Foundry Partners LLC boosted its position in Covenant Logistics Group, Inc. (NASDAQ:CVLG - Free Report) by 10.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 216,080 shares of the company's stock after purchasing an additional 19,777 shares during the quarter. Foundry Partners LLC owned about 0.82% of Covenant Logistics Group worth $11,779,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Covenant Logistics Group by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 464,371 shares of the company's stock valued at $25,313,000 after buying an additional 1,216 shares during the period. American Century Companies Inc. boosted its position in shares of Covenant Logistics Group by 21.7% during the 4th quarter. American Century Companies Inc. now owns 210,350 shares of the company's stock valued at $11,466,000 after acquiring an additional 37,501 shares during the last quarter. State Street Corp grew its holdings in shares of Covenant Logistics Group by 6.2% during the third quarter. State Street Corp now owns 208,517 shares of the company's stock worth $11,018,000 after purchasing an additional 12,138 shares in the last quarter. Empowered Funds LLC increased its position 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. Finally, Royce & Associates LP raised its stake in Covenant Logistics Group by 43.8% in the fourth quarter. Royce & Associates LP now owns 121,544 shares of the company's stock valued at $6,625,000 after purchasing an additional 37,008 shares in the last quarter. 83.72% of the stock is owned by institutional investors.

Covenant Logistics Group Price Performance

Shares of Covenant Logistics Group stock traded down $0.09 during trading on Wednesday, hitting $18.59. 30,571 shares of the stock traded hands, compared to its average volume of 108,107. The firm's fifty day moving average is $24.30 and its 200-day moving average is $26.58. The stock has a market cap of $493.64 million, a price-to-earnings ratio of 14.34 and a beta of 1.36. Covenant Logistics Group, Inc. has a 52 week low of $18.12 and a 52 week high of $30.77. The company has a quick ratio of 1.07, a current ratio of 1.10 and a debt-to-equity ratio of 0.46.

Covenant Logistics Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 7th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend was Friday, March 7th. This is a boost from Covenant Logistics Group's previous quarterly dividend of $0.06. Covenant Logistics Group's dividend payout ratio (DPR) is presently 21.71%.

Insiders Place Their Bets

In related news, CAO Matisse Long sold 2,114 shares of the firm's stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 15,434 shares in the company, valued at $446,814.30. This trade represents a 12.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 36.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

Covenant Logistics Group 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.