Charles Schwab Investment Management Inc. Grows Stock Holdings in Covenant Logistics Group, Inc. (NASDAQ:CVLG)

Charles Schwab Investment Management Inc. grew its holdings in shares of Covenant Logistics Group, Inc. (NASDAQ:CVLGFree Report) by 2.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 112,472 shares of the company’s stock after buying an additional 2,935 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.87% of Covenant Logistics Group worth $5,178,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Invesco Ltd. lifted its position in shares of Covenant Logistics Group by 26.8% during the third quarter. Invesco Ltd. now owns 143,868 shares of the company’s stock worth $6,309,000 after purchasing an additional 30,416 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Covenant Logistics Group by 0.9% during the third quarter. Vanguard Group Inc. now owns 434,458 shares of the company’s stock worth $19,051,000 after purchasing an additional 4,004 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Covenant Logistics Group by 59.1% during the third quarter. Janney Montgomery Scott LLC now owns 33,705 shares of the company’s stock worth $1,478,000 after purchasing an additional 12,515 shares in the last quarter. Foundry Partners LLC lifted its position in shares of Covenant Logistics Group by 9.3% during the fourth quarter. Foundry Partners LLC now owns 73,551 shares of the company’s stock worth $3,386,000 after purchasing an additional 6,256 shares in the last quarter. Finally, Brandywine Global Investment Management LLC lifted its position in shares of Covenant Logistics Group by 9.3% during the third quarter. Brandywine Global Investment Management LLC now owns 35,337 shares of the company’s stock worth $1,550,000 after purchasing an additional 3,018 shares in the last quarter. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Covenant Logistics Group

In other Covenant Logistics Group news, Director D Michael Kramer sold 3,725 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $46.64, for a total transaction of $173,734.00. Following the transaction, the director now directly owns 11,285 shares in the company, valued at approximately $526,332.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 36.50% of the stock is currently owned by insiders.

Covenant Logistics Group Trading Down 0.9 %

NASDAQ CVLG opened at $47.11 on Tuesday. The company’s fifty day simple moving average is $45.88 and its 200-day simple moving average is $46.33. Covenant Logistics Group, Inc. has a 52 week low of $38.25 and a 52 week high of $57.57. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.47. The stock has a market cap of $615.73 million, a P/E ratio of 15.10 and a beta of 1.34.

Covenant Logistics Group (NASDAQ:CVLGGet Free Report) last posted its earnings results on Wednesday, April 24th. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. Covenant Logistics Group had a net margin of 3.82% and a return on equity of 14.16%. The business had revenue of $278.76 million for the quarter. Equities research analysts predict that Covenant Logistics Group, Inc. will post 4.12 EPS for the current fiscal year.

Covenant Logistics Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.44 dividend on an annualized basis and a yield of 0.93%. Covenant Logistics Group’s dividend payout ratio (DPR) is 14.10%.

About Covenant Logistics Group

(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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Institutional Ownership by Quarter for Covenant Logistics Group (NASDAQ:CVLG)

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