EMC Capital Management Buys 12,088 Shares of Covenant Logistics Group, Inc. (NASDAQ:CVLG)

EMC Capital Management lifted its holdings in Covenant Logistics Group, Inc. (NASDAQ:CVLG - Free Report) by 374.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,312 shares of the company's stock after acquiring an additional 12,088 shares during the period. EMC Capital Management owned 0.12% of Covenant Logistics Group worth $809,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its stake in Covenant Logistics Group by 132.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 4,161 shares of the company's stock valued at $193,000 after buying an additional 2,368 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Covenant Logistics Group by 296.9% during the first quarter. BNP Paribas Financial Markets now owns 8,645 shares of the company's stock valued at $401,000 after buying an additional 6,467 shares during the last quarter. GSA Capital Partners LLP bought a new position in Covenant Logistics Group during the first quarter valued at approximately $517,000. Essex Investment Management Co. LLC boosted its stake in Covenant Logistics Group by 50.5% during the first quarter. Essex Investment Management Co. LLC now owns 43,041 shares of the company's stock valued at $1,995,000 after buying an additional 14,443 shares during the last quarter. Finally, Empowered Funds LLC raised its position in Covenant Logistics Group by 8.1% during the first quarter. Empowered Funds LLC now owns 79,214 shares of the company's stock valued at $3,672,000 after purchasing an additional 5,950 shares during the period. Institutional investors own 83.72% of the company's stock.

Covenant Logistics Group Trading Up 1.4 %

Shares of NASDAQ CVLG traded up $0.70 during midday trading on Friday, hitting $51.30. The company's stock had a trading volume of 41,483 shares, compared to its average volume of 60,683. The company has a current ratio of 1.08, a quick ratio of 1.05 and a debt-to-equity ratio of 0.48. The business's 50 day moving average is $52.17 and its two-hundred day moving average is $49.92. Covenant Logistics Group, Inc. has a 12-month low of $38.25 and a 12-month high of $56.96. The firm has a market cap of $675.62 million, a P/E ratio of 16.88 and a beta of 1.34.

Covenant Logistics Group (NASDAQ:CVLG - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.01. Covenant Logistics Group had a return on equity of 13.61% and a net margin of 3.72%. The company had revenue of $287.89 million for the quarter. During the same period last year, the company earned $1.13 EPS. As a group, equities research analysts expect that Covenant Logistics Group, Inc. will post 4.03 EPS for the current year.

Covenant Logistics Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 6th were paid a $0.11 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.44 annualized dividend and a yield of 0.86%. Covenant Logistics Group's dividend payout ratio (DPR) is currently 14.47%.

Wall Street Analyst Weigh In

Separately, TD Cowen decreased their price objective on Covenant Logistics Group from $70.00 to $69.00 and set a "buy" rating on the stock in a research report 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.