Covenant Logistics Group, Inc. $CVLG Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH decreased its holdings in shares of Covenant Logistics Group, Inc. (NYSE:CVLG) by 61.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,601 shares of the company’s stock after selling 35,902 shares during the quarter. Allianz Asset Management GmbH owned about 0.09% of Covenant Logistics Group worth $545,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MAI Capital Management lifted its holdings in shares of Covenant Logistics Group by 100.0% during the 1st quarter. MAI Capital Management now owns 1,500 shares of the company’s stock valued at $33,000 after acquiring an additional 750 shares in the last quarter. KLP Kapitalforvaltning AS lifted its holdings in shares of Covenant Logistics Group by 100.0% during the 1st quarter. KLP Kapitalforvaltning AS now owns 2,600 shares of the company’s stock valued at $58,000 after acquiring an additional 1,300 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Covenant Logistics Group by 6,352.3% during the 1st quarter. US Bancorp DE now owns 2,839 shares of the company’s stock valued at $63,000 after acquiring an additional 2,795 shares in the last quarter. Copeland Capital Management LLC lifted its holdings in shares of Covenant Logistics Group by 47.5% during the 2nd quarter. Copeland Capital Management LLC now owns 3,482 shares of the company’s stock valued at $84,000 after acquiring an additional 1,121 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Covenant Logistics Group by 100.0% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,940 shares of the company’s stock worth $110,000 after buying an additional 2,470 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Covenant Logistics Group in a report on Tuesday, October 14th. Wall Street Zen lowered shares of Covenant Logistics Group from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Finally, Zacks Research lowered shares of Covenant Logistics Group from a “hold” rating to a “strong sell” rating in a report on Friday, October 10th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $33.00.

Covenant Logistics Group Stock Performance

Shares of Covenant Logistics Group stock opened at $20.67 on Tuesday. The firm has a market cap of $517.16 million, a PE ratio of 17.37 and a beta of 1.39. The firm’s 50-day simple moving average is $22.49 and its 200-day simple moving average is $22.70. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.06 and a current ratio of 1.09. Covenant Logistics Group, Inc. has a 1 year low of $17.46 and a 1 year high of $30.77.

Covenant Logistics Group (NYSE:CVLG) last issued its earnings results on Wednesday, October 22nd. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). The company had revenue of $296.89 million during the quarter. Covenant Logistics Group had a net margin of 2.81% and a return on equity of 10.77%.

Covenant Logistics Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 5th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.4%. Covenant Logistics Group’s dividend payout ratio (DPR) is 23.53%.

About Covenant Logistics Group

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.