DekaBank Deutsche Girozentrale Sells 838 Shares of Covenant Logistics Group, Inc. (NASDAQ:CVLG)

DekaBank Deutsche Girozentrale reduced its holdings in shares of Covenant Logistics Group, Inc. (NASDAQ:CVLG) by 28.3% during the fourth quarter, HoldingsChannel reports. The firm owned 2,121 shares of the company’s stock after selling 838 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Covenant Logistics Group were worth $98,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CVLG. Tower Research Capital LLC TRC increased its position in Covenant Logistics Group by 299.5% during the second quarter. Tower Research Capital LLC TRC now owns 871 shares of the company’s stock valued at $38,000 after acquiring an additional 653 shares during the last quarter. UBS Group AG increased its position in Covenant Logistics Group by 2,728.1% during the third quarter. UBS Group AG now owns 1,810 shares of the company’s stock valued at $52,000 after acquiring an additional 1,746 shares during the last quarter. HHM Wealth Advisors LLC increased its position in Covenant Logistics Group by 96.3% during the third quarter. HHM Wealth Advisors LLC now owns 1,570 shares of the company’s stock valued at $69,000 after acquiring an additional 770 shares during the last quarter. Citigroup Inc. increased its position in Covenant Logistics Group by 586.8% during the second quarter. Citigroup Inc. now owns 2,747 shares of the company’s stock valued at $120,000 after acquiring an additional 2,347 shares during the last quarter. Finally, Legal & General Group Plc increased its position in Covenant Logistics Group by 182.0% during the fourth quarter. Legal & General Group Plc now owns 3,891 shares of the company’s stock valued at $135,000 after acquiring an additional 2,511 shares during the last quarter. 83.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Vertical Research assumed coverage on Covenant Logistics Group in a research report on Tuesday, January 23rd. They set a “buy” rating and a $70.00 price objective for the company. TD Cowen upgraded Covenant Logistics Group from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $51.00 to $66.00 in a research report on Thursday, January 25th.

Covenant Logistics Group Stock Performance

Shares of CVLG opened at $43.69 on Thursday. The company has a quick ratio of 1.06, a current ratio of 1.09 and a debt-to-equity ratio of 0.50. The business has a 50-day simple moving average of $47.60 and a two-hundred day simple moving average of $45.42. The stock has a market cap of $571.12 million, a price-to-earnings ratio of 10.84 and a beta of 1.41. Covenant Logistics Group, Inc. has a 52 week low of $33.58 and a 52 week high of $57.57.

Covenant Logistics Group (NASDAQ:CVLG) last issued its quarterly earnings results on Tuesday, January 23rd. The company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.02. The business had revenue of $273.99 million during the quarter. Covenant Logistics Group had a return on equity of 14.85% and a net margin of 4.98%. On average, analysts expect that Covenant Logistics Group, Inc. will post 4.2 EPS for the current year.

Covenant Logistics Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 1st were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend was Thursday, February 29th. Covenant Logistics Group’s dividend payout ratio (DPR) is 10.92%.

Insider Transactions at Covenant Logistics Group

In other news, EVP Samuel F. Hough sold 4,000 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was 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 owns 25,125 shares of the company’s stock, valued at $1,295,193.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO David Ray Parker sold 55,000 shares of the company’s stock in a transaction dated 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 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 dated Wednesday, February 21st. The stock was 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 approximately $1,295,193.75. The disclosure for this sale can be found here. Insiders sold a total of 117,667 shares of company stock valued at $6,078,403 over the last 90 days. Company insiders own 29.10% of the company’s stock.

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.