Covenant Logistics Group, Inc. (NASDAQ:CVLG - Get Free Report) Director Bradley A. Moline sold 7,000 shares of the firm's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $59.64, for a total transaction of $417,480.00. Following the completion of the sale, the director now directly owns 46,992 shares of the company's stock, valued at approximately $2,802,602.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Covenant Logistics Group Stock Performance
Shares of NASDAQ:CVLG opened at $60.38 on Thursday. The company has a market capitalization of $795.81 million, a price-to-earnings ratio of 19.86 and a beta of 1.35. Covenant Logistics Group, Inc. has a 52 week low of $40.72 and a 52 week high of $61.54. The company has a quick ratio of 1.07, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. The firm has a 50 day moving average of $52.87 and a 200 day moving average of $50.63.
Covenant Logistics Group (NASDAQ:CVLG - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $1.09 EPS for the quarter, topping analysts' consensus estimates of $1.08 by $0.01. Covenant Logistics Group had a net margin of 3.72% and a return on equity of 13.43%. The company had revenue of $287.89 million during the quarter. During the same period last year, the firm earned $1.13 EPS. On average, sell-side analysts predict that Covenant Logistics Group, Inc. will post 4 earnings per share for the current fiscal year.
Covenant Logistics Group Dividend Announcement
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The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 6th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date was Friday, September 6th. Covenant Logistics Group's dividend payout ratio (DPR) is presently 14.47%.
Wall Street Analysts Forecast Growth
Separately, TD Cowen decreased their price objective on shares of Covenant Logistics Group from $70.00 to $69.00 and set a "buy" rating for the company in a research note on Friday, October 25th.
Check Out Our Latest Analysis on Covenant Logistics Group
Institutional Investors Weigh In On Covenant Logistics Group
Large investors have recently made changes to their positions in the stock. CWM LLC grew its holdings in shares of Covenant Logistics Group by 2,336.4% during the second quarter. CWM LLC now owns 536 shares of the company's stock valued at $26,000 after buying an additional 514 shares during the last quarter. Innealta Capital LLC acquired a new position in Covenant Logistics Group during the second quarter valued at $27,000. Huntington National Bank acquired a new position in Covenant Logistics Group during the third quarter valued at $27,000. Quantbot Technologies LP acquired a new position in Covenant Logistics Group during the third quarter valued at $64,000. Finally, nVerses Capital LLC lifted its position in Covenant Logistics Group by 550.0% during the third quarter. nVerses Capital LLC now owns 1,300 shares of the company's stock valued at $69,000 after purchasing an additional 1,100 shares during the period. 83.72% of the stock is owned by hedge funds and other institutional investors.
About Covenant Logistics Group
(
Get Free Report)
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.
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