Covenant Logistics Group, Inc. $CVLG Shares Acquired by Trexquant Investment LP

Trexquant Investment LP lifted its position in shares of Covenant Logistics Group, Inc. (NYSE:CVLG) by 71.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,570 shares of the company’s stock after purchasing an additional 6,095 shares during the period. Trexquant Investment LP owned about 0.05% of Covenant Logistics Group worth $323,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CVLG. Price T Rowe Associates Inc. MD increased its position in shares of Covenant Logistics Group by 7.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,164 shares of the company’s stock worth $391,000 after purchasing an additional 467 shares in the last quarter. Northern Trust Corp increased its position in shares of Covenant Logistics Group by 8.7% during the fourth quarter. Northern Trust Corp now owns 87,107 shares of the company’s stock worth $4,748,000 after purchasing an additional 6,982 shares in the last quarter. Bank of America Corp DE increased its position in shares of Covenant Logistics Group by 132.0% during the fourth quarter. Bank of America Corp DE now owns 28,484 shares of the company’s stock worth $1,553,000 after purchasing an additional 16,205 shares in the last quarter. Cubist Systematic Strategies LLC grew its holdings in shares of Covenant Logistics Group by 48.4% during the fourth quarter. Cubist Systematic Strategies LLC now owns 6,763 shares of the company’s stock worth $369,000 after buying an additional 2,206 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. grew its holdings in shares of Covenant Logistics Group by 111.1% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 51,508 shares of the company’s stock worth $2,808,000 after buying an additional 27,112 shares during the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered Covenant Logistics Group from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $33.00.

Covenant Logistics Group Price Performance

Shares of CVLG opened at $23.58 on Wednesday. Covenant Logistics Group, Inc. has a twelve month low of $17.46 and a twelve month high of $30.77. The stock’s 50 day moving average is $24.36 and its two-hundred day moving average is $22.95. The firm has a market capitalization of $589.97 million, a PE ratio of 18.00 and a beta of 1.42. The company has a current ratio of 1.09, a quick ratio of 1.06 and a debt-to-equity ratio of 0.52.

Covenant Logistics Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 5th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.2%. Covenant Logistics Group’s dividend payout ratio is presently 21.37%.

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.