Covenant Logistics Group, Inc. (NASDAQ:CVLG) Holdings Lifted by Foundry Partners LLC

Foundry Partners LLC boosted its holdings in Covenant Logistics Group, Inc. (NASDAQ:CVLG) by 6.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 196,303 shares of the company’s stock after acquiring an additional 11,459 shares during the quarter. Foundry Partners LLC owned about 1.49% of Covenant Logistics Group worth $10,373,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. American Century Companies Inc. boosted its stake in Covenant Logistics Group by 29.4% in the 2nd quarter. American Century Companies Inc. now owns 114,117 shares of the company’s stock worth $5,625,000 after purchasing an additional 25,913 shares during the period. Empowered Funds LLC boosted its position in Covenant Logistics Group by 5.3% during the third quarter. Empowered Funds LLC now owns 89,890 shares of the company’s stock worth $4,750,000 after purchasing an additional 4,556 shares during the period. Royce & Associates LP increased its stake in shares of Covenant Logistics Group by 7.0% in the third quarter. Royce & Associates LP now owns 84,536 shares of the company’s stock worth $4,467,000 after purchasing an additional 5,537 shares during the period. AQR Capital Management LLC boosted its holdings in Covenant Logistics Group by 0.3% in the 2nd quarter. AQR Capital Management LLC now owns 74,704 shares of the company’s stock valued at $3,682,000 after purchasing an additional 236 shares during the period. Finally, Renaissance Technologies LLC grew its position in Covenant Logistics Group by 27.2% during the second quarter. Renaissance Technologies LLC now owns 43,000 shares of the company’s stock worth $2,119,000 after buying an additional 9,200 shares in the last quarter. 83.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, Director Bradley A. Moline sold 7,000 shares of Covenant Logistics Group 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 approximately $2,802,602.88. This trade represents a 12.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 36.50% of the company’s stock.

Covenant Logistics Group Trading Down 1.0 %

Shares of NASDAQ CVLG opened at $56.74 on Thursday. The company has a quick ratio of 1.07, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. Covenant Logistics Group, Inc. has a twelve month low of $41.38 and a twelve month high of $61.54. The company’s fifty day moving average is $53.52 and its 200-day moving average is $51.06. The stock has a market cap of $747.83 million, a price-to-earnings ratio of 14.19 and a beta of 1.35.

Covenant Logistics Group (NASDAQ:CVLG) last announced its earnings results on Wednesday, October 23rd. The company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. Covenant Logistics Group had a return on equity of 13.43% and a net margin of 3.72%. The business had revenue of $287.89 million for the quarter. During the same period in the prior year, the business posted $1.13 EPS. Equities research analysts predict that Covenant Logistics Group, Inc. will post 4 EPS for the current year.

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.