SG Americas Securities LLC Purchases Shares of 4,797 Covenant Logistics Group, Inc. (NASDAQ:CVLG)

SG Americas Securities LLC purchased a new stake in Covenant Logistics Group, Inc. (NASDAQ:CVLG) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 4,797 shares of the company’s stock, valued at approximately $221,000.

Other institutional investors have also recently made changes to their positions in the company. Tower Research Capital LLC TRC grew its position in shares of Covenant Logistics Group by 299.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 871 shares of the company’s stock valued at $38,000 after buying an additional 653 shares during the last quarter. HHM Wealth Advisors LLC grew its position in shares of Covenant Logistics Group by 96.3% in the 3rd quarter. HHM Wealth Advisors LLC now owns 1,570 shares of the company’s stock valued at $69,000 after buying an additional 770 shares during the last quarter. UBS Group AG grew its position in shares of Covenant Logistics Group by 2,728.1% in the 3rd quarter. UBS Group AG now owns 1,810 shares of the company’s stock valued at $52,000 after buying an additional 1,746 shares during the last quarter. Citigroup Inc. grew its position in shares of Covenant Logistics Group by 586.8% in the 2nd quarter. Citigroup Inc. now owns 2,747 shares of the company’s stock valued at $120,000 after buying an additional 2,347 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of Covenant Logistics Group in the 3rd quarter valued at about $130,000. Institutional investors own 83.72% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CVLG. Vertical Research began coverage on Covenant Logistics Group in a research note on Tuesday, January 23rd. They issued a “buy” rating and a $70.00 price objective on the stock. TD Cowen raised Covenant Logistics Group from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $51.00 to $66.00 in a research note on Thursday, January 25th.

Covenant Logistics Group Stock Up 1.8 %

Shares of NASDAQ:CVLG opened at $46.17 on Friday. The company has a market capitalization of $603.44 million, a price-to-earnings ratio of 11.46 and a beta of 1.41. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.09 and a quick ratio of 1.06. The business’s 50-day moving average is $48.06 and its 200-day moving average is $45.37. Covenant Logistics Group, Inc. has a 1 year low of $33.58 and a 1 year high of $57.57.

Covenant Logistics Group (NASDAQ:CVLG) last announced its quarterly earnings data on Tuesday, January 23rd. The company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.02. The company had revenue of $273.99 million for the quarter. Covenant Logistics Group had a return on equity of 14.85% and a net margin of 4.98%. Equities research analysts predict that Covenant Logistics Group, Inc. will post 4.3 earnings per share for the current year.

Covenant Logistics Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 1st were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend was Thursday, February 29th. Covenant Logistics Group’s dividend payout ratio (DPR) is currently 10.92%.

Insider Buying and Selling

In related news, CEO David Ray Parker sold 55,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $51.47, for a total transaction of $2,830,850.00. Following the transaction, the chief executive officer now directly owns 196,537 shares of the company’s stock, valued at approximately $10,115,759.39. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO David Ray Parker sold 55,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $51.47, for a total value of $2,830,850.00. Following the completion of the transaction, the chief executive officer now directly owns 196,537 shares of the company’s stock, valued at $10,115,759.39. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Samuel F. Hough sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $51.55, for a total value of $206,200.00. Following the completion of the transaction, the executive vice president now directly owns 25,125 shares of the company’s stock, valued at $1,295,193.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 117,667 shares of company stock valued at $6,078,403. 29.10% of the stock is owned by company insiders.

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.