Russell Investments Group Ltd. Has $3.42 Million Stake in Covenant Logistics Group, Inc. $CVLG

Russell Investments Group Ltd. raised its stake in shares of Covenant Logistics Group, Inc. (NYSE:CVLG) by 200.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 153,922 shares of the company’s stock after buying an additional 102,672 shares during the period. Russell Investments Group Ltd. owned 0.58% of Covenant Logistics Group worth $3,417,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Covenant Logistics Group by 106.6% during the 1st quarter. Vanguard Group Inc. now owns 959,196 shares of the company’s stock valued at $21,294,000 after acquiring an additional 494,825 shares during the last quarter. Patton Albertson Miller Group LLC grew its holdings in Covenant Logistics Group by 100.0% during the first quarter. Patton Albertson Miller Group LLC now owns 576,250 shares of the company’s stock valued at $12,793,000 after purchasing an additional 288,125 shares during the last quarter. Foundry Partners LLC grew its holdings in Covenant Logistics Group by 100.9% during the first quarter. Foundry Partners LLC now owns 434,073 shares of the company’s stock valued at $9,636,000 after purchasing an additional 217,993 shares during the last quarter. Bridgeway Capital Management LLC raised its position in shares of Covenant Logistics Group by 56.5% in the fourth quarter. Bridgeway Capital Management LLC now owns 274,316 shares of the company’s stock valued at $14,953,000 after purchasing an additional 99,026 shares during the period. Finally, Royce & Associates LP lifted its stake in shares of Covenant Logistics Group by 114.4% in the first quarter. Royce & Associates LP now owns 260,588 shares of the company’s stock worth $5,785,000 after buying an additional 139,044 shares during the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Covenant Logistics Group Stock Performance

Shares of NYSE CVLG opened at $25.03 on Friday. Covenant Logistics Group, Inc. has a 12 month low of $17.46 and a 12 month high of $30.77. The company has a market cap of $626.25 million, a P/E ratio of 19.11 and a beta of 1.41. The business’s 50 day moving average is $24.25 and its two-hundred day moving average is $23.17. The company has a quick ratio of 1.06, a current ratio of 1.09 and a debt-to-equity ratio of 0.52.

Covenant Logistics Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 5th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.1%. Covenant Logistics Group’s payout ratio is currently 21.37%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Covenant Logistics Group from a “hold” rating to a “buy” rating in a research note on Wednesday, July 30th. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $33.00.

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.