Insider Selling: Covenant Logistics Group, Inc. (NASDAQ:CVLG) Director Sells $417,480.00 in Stock

Covenant Logistics Group, Inc. (NASDAQ:CVLG) Director Bradley A. Moline sold 7,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $59.64, for a total value of $417,480.00. Following the sale, the director now owns 46,992 shares of the company’s stock, valued at approximately $2,802,602.88. This represents a 12.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Covenant Logistics Group Trading Down 2.3 %

Shares of CVLG stock opened at $57.84 on Friday. Covenant Logistics Group, Inc. has a 52-week low of $40.72 and a 52-week high of $61.54. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.07 and a current ratio of 1.10. The stock has a market cap of $762.33 million, a price-to-earnings ratio of 19.03 and a beta of 1.35. The firm has a fifty day moving average of $53.17 and a 200-day moving average of $50.77.

Covenant Logistics Group (NASDAQ:CVLG) last posted 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. The company had revenue of $287.89 million for the quarter. Covenant Logistics Group had a return on equity of 13.43% and a net margin of 3.72%. During the same period in the prior year, the firm posted $1.13 EPS. On average, equities research analysts forecast that Covenant Logistics Group, Inc. will post 4 earnings per share for the current fiscal year.

Covenant Logistics Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 6th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.76%. The ex-dividend date was Friday, September 6th. Covenant Logistics Group’s dividend payout ratio (DPR) is presently 14.47%.

Hedge Funds Weigh In On Covenant Logistics Group

A number of hedge funds and other institutional investors have recently bought and sold shares of CVLG. Huntington National Bank bought a new position in shares of Covenant Logistics Group during the third quarter worth $27,000. CWM LLC raised its stake in Covenant Logistics Group by 2,336.4% during the 2nd quarter. CWM LLC now owns 536 shares of the company’s stock worth $26,000 after buying an additional 514 shares during the period. Innealta Capital LLC bought a new position in Covenant Logistics Group during the second quarter worth about $27,000. Quantbot Technologies LP acquired a new position in Covenant Logistics Group in the third quarter valued at about $64,000. Finally, nVerses Capital LLC raised its position in shares of Covenant Logistics Group by 550.0% during the third quarter. nVerses Capital LLC now owns 1,300 shares of the company’s stock worth $69,000 after purchasing an additional 1,100 shares during the period. 83.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, TD Cowen reduced 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.

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.