Insider Selling: Covenant Transportation Group, Inc. (CVTI) Chairman Sells $913,954.55 in Stock

Covenant Transportation Group, Inc. (NASDAQ:CVTI) Chairman David Ray Parker sold 30,455 shares of Covenant Transportation Group stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $30.01, for a total transaction of $913,954.55. Following the sale, the chairman now directly owns 110,580 shares of the company’s stock, valued at approximately $3,318,505.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

David Ray Parker also recently made the following trade(s):

  • On Thursday, November 30th, David Ray Parker sold 29,255 shares of Covenant Transportation Group stock. The stock was sold at an average price of $30.01, for a total transaction of $877,942.55.
  • On Wednesday, November 22nd, David Ray Parker sold 3,814 shares of Covenant Transportation Group stock. The stock was sold at an average price of $30.00, for a total transaction of $114,420.00.
  • On Friday, November 24th, David Ray Parker sold 10,783 shares of Covenant Transportation Group stock. The stock was sold at an average price of $30.02, for a total transaction of $323,705.66.
  • On Wednesday, November 1st, David Ray Parker sold 54,219 shares of Covenant Transportation Group stock. The stock was sold at an average price of $30.04, for a total transaction of $1,628,738.76.
  • On Friday, November 3rd, David Ray Parker sold 60,919 shares of Covenant Transportation Group stock. The stock was sold at an average price of $30.04, for a total transaction of $1,830,006.76.
  • On Wednesday, October 25th, David Ray Parker sold 57,381 shares of Covenant Transportation Group stock. The stock was sold at an average price of $28.68, for a total transaction of $1,645,687.08.
  • On Friday, October 27th, David Ray Parker sold 250,000 shares of Covenant Transportation Group stock. The stock was sold at an average price of $28.77, for a total transaction of $7,192,500.00.

Shares of Covenant Transportation Group, Inc. (NASDAQ:CVTI) opened at $29.86 on Thursday. Covenant Transportation Group, Inc. has a 12 month low of $15.86 and a 12 month high of $30.60. The company has a quick ratio of 1.62, a current ratio of 1.66 and a debt-to-equity ratio of 0.77. The firm has a market cap of $545.04, a PE ratio of 43.19 and a beta of 1.67.

Covenant Transportation Group (NASDAQ:CVTI) last issued its quarterly earnings data on Thursday, October 19th. The transportation company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.08. Covenant Transportation Group had a net margin of 1.82% and a return on equity of 5.30%. The business had revenue of $178.60 million during the quarter, compared to analysts’ expectations of $170.10 million. During the same quarter in the previous year, the company earned $0.16 EPS. The business’s revenue was up 8.6% on a year-over-year basis. equities analysts expect that Covenant Transportation Group, Inc. will post 0.9 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of CVTI. Macquarie Group Ltd. acquired a new stake in Covenant Transportation Group in the 3rd quarter worth about $113,000. American International Group Inc. raised its stake in Covenant Transportation Group by 7.2% in the 1st quarter. American International Group Inc. now owns 7,309 shares of the transportation company’s stock worth $137,000 after purchasing an additional 489 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Covenant Transportation Group by 15.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,909 shares of the transportation company’s stock worth $191,000 after purchasing an additional 1,472 shares in the last quarter. State Board of Administration of Florida Retirement System acquired a new stake in Covenant Transportation Group in the 3rd quarter worth about $217,000. Finally, Brandes Investment Partners LP acquired a new stake in Covenant Transportation Group in the 3rd quarter worth about $219,000. Institutional investors and hedge funds own 63.29% of the company’s stock.

Several analysts recently commented on the stock. BidaskClub raised shares of Covenant Transportation Group from a “buy” rating to a “strong-buy” rating in a report on Thursday. ValuEngine downgraded shares of Covenant Transportation Group from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Cowen reaffirmed a “hold” rating and set a $25.50 target price on shares of Covenant Transportation Group in a report on Tuesday, October 24th. Zacks Investment Research raised shares of Covenant Transportation Group from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. Finally, TheStreet raised shares of Covenant Transportation Group from a “c+” rating to a “b” rating in a report on Thursday, October 19th. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $25.63.

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About Covenant Transportation Group

Covenant Transportation Group, Inc is a provider of expedited long haul freight transportation, primarily using two-person driver teams in transcontinental lanes. The Company’s services also include refrigerated, dedicated, cross-border, regional and brokerage. The Company’s segments include Truckload and Other.

Insider Buying and Selling by Quarter for Covenant Transportation Group (NASDAQ:CVTI)

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