LSV Asset Management Sells 29,600 Shares of Covenant Logistics Group, Inc. (NASDAQ:CVLG)

LSV Asset Management decreased its holdings in shares of Covenant Logistics Group, Inc. (NASDAQ:CVLG - Free Report) by 15.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 168,202 shares of the company's stock after selling 29,600 shares during the period. LSV Asset Management owned approximately 0.64% of Covenant Logistics Group worth $9,169,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in CVLG. Huntington National Bank boosted its position in shares of Covenant Logistics Group by 91.5% in the 4th quarter. Huntington National Bank now owns 963 shares of the company's stock valued at $52,000 after purchasing an additional 460 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Covenant Logistics Group in the fourth quarter worth about $71,000. Private Advisor Group LLC increased its position in shares of Covenant Logistics Group by 11.8% in the fourth quarter. Private Advisor Group LLC now owns 4,567 shares of the company's stock worth $249,000 after acquiring an additional 481 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Covenant Logistics Group by 34.0% during the fourth quarter. SG Americas Securities LLC now owns 4,715 shares of the company's stock valued at $257,000 after acquiring an additional 1,196 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in shares of Covenant Logistics Group by 28.1% during the fourth quarter. Wells Fargo & Company MN now owns 4,921 shares of the company's stock valued at $268,000 after acquiring an additional 1,079 shares during the period. Institutional investors and hedge funds own 83.72% of the company's stock.

Covenant Logistics Group Stock Up 3.5 %

Covenant Logistics Group stock traded up $0.62 during mid-day trading on Friday, hitting $18.35. The company's stock had a trading volume of 220,624 shares, compared to its average volume of 110,082. Covenant Logistics Group, Inc. has a 52-week low of $17.46 and a 52-week high of $30.77. The company has a market cap of $487.14 million, a PE ratio of 14.17 and a beta of 1.36. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 1.07. The firm's 50 day moving average is $22.82 and its 200 day moving average is $26.12.

Covenant Logistics Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.53%. This is a positive change from Covenant Logistics Group's previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Friday, March 7th. Covenant Logistics Group's dividend payout ratio is 21.71%.

Insider Buying and Selling

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

Analysts Set New Price Targets

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

About Covenant Logistics Group

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.