BNP Paribas Financial Markets Buys 9,766 Shares of Covenant Logistics Group, Inc. (NASDAQ:CVLG)

BNP Paribas Financial Markets boosted its position in Covenant Logistics Group, Inc. (NASDAQ:CVLG) by 125.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,533 shares of the company’s stock after purchasing an additional 9,766 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.13% of Covenant Logistics Group worth $926,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CVLG. CWM LLC grew its position 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 purchasing an additional 514 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of Covenant Logistics Group in the 2nd quarter valued at $27,000. Huntington National Bank purchased a new position in Covenant Logistics Group in the 3rd quarter worth $27,000. Quantbot Technologies LP acquired a new stake in Covenant Logistics Group during the 3rd quarter worth about $64,000. Finally, nVerses Capital LLC grew its stake in Covenant Logistics Group by 550.0% during the 3rd 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 last quarter. 83.72% of the stock is owned by hedge funds and other institutional investors.

Covenant Logistics Group Stock Up 1.7 %

CVLG stock opened at $59.36 on Thursday. Covenant Logistics Group, Inc. has a one year low of $41.47 and a one year 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 firm’s fifty day moving average is $54.94 and its 200 day moving average is $52.20. The firm has a market cap of $782.36 million, a PE ratio of 19.16 and a beta of 1.39.

Covenant Logistics Group (NASDAQ:CVLG) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $1.09 EPS for the quarter, beating the consensus estimate 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 previous year, the business posted $1.13 earnings per share. On average, research analysts forecast that Covenant Logistics Group, Inc. will post 4 EPS for the current year.

Covenant Logistics Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 6th will be given a $0.11 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.44 annualized dividend and a dividend yield of 0.74%. Covenant Logistics Group’s dividend payout ratio (DPR) is presently 14.47%.

Wall Street Analyst Weigh In

Separately, TD Cowen dropped their target price on Covenant Logistics Group from $70.00 to $69.00 and set a “buy” rating on the stock in a research report on Friday, October 25th.

Insider Transactions at Covenant Logistics Group

In other Covenant Logistics Group news, Director Bradley A. Moline sold 7,000 shares of the firm’s stock in a transaction on 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 owns 46,992 shares of the company’s stock, valued at $2,802,602.88. This trade represents a 12.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 36.50% 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.