Covenant Transportation Group, Inc. (CVTI) Shares Sold by Hodges Capital Management Inc.

Hodges Capital Management Inc. trimmed its stake in shares of Covenant Transportation Group, Inc. (NASDAQ:CVTI) by 54.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,420 shares of the transportation company’s stock after selling 42,475 shares during the quarter. Hodges Capital Management Inc.’s holdings in Covenant Transportation Group were worth $672,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in CVTI. BlackRock Inc. boosted its position in shares of Covenant Transportation Group by 7.8% in the fourth quarter. BlackRock Inc. now owns 1,008,481 shares of the transportation company’s stock valued at $19,361,000 after acquiring an additional 72,933 shares during the period. Vanguard Group Inc boosted its position in shares of Covenant Transportation Group by 1.7% in the third quarter. Vanguard Group Inc now owns 545,000 shares of the transportation company’s stock valued at $15,837,000 after acquiring an additional 8,961 shares during the period. Vanguard Group Inc. boosted its position in shares of Covenant Transportation Group by 1.7% in the third quarter. Vanguard Group Inc. now owns 545,000 shares of the transportation company’s stock valued at $15,837,000 after acquiring an additional 8,961 shares during the period. AQR Capital Management LLC boosted its position in shares of Covenant Transportation Group by 16.4% in the third quarter. AQR Capital Management LLC now owns 281,762 shares of the transportation company’s stock valued at $8,188,000 after acquiring an additional 39,600 shares during the period. Finally, Ranger Investment Management L.P. boosted its position in shares of Covenant Transportation Group by 33.2% in the fourth quarter. Ranger Investment Management L.P. now owns 216,712 shares of the transportation company’s stock valued at $4,161,000 after acquiring an additional 53,997 shares during the period. 64.17% of the stock is owned by hedge funds and other institutional investors.

CVTI opened at $19.96 on Wednesday. Covenant Transportation Group, Inc. has a twelve month low of $18.13 and a twelve month high of $35.19. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.63. The stock has a market cap of $366.26 million, a P/E ratio of 8.46 and a beta of 1.60.

Covenant Transportation Group (NASDAQ:CVTI) last posted its quarterly earnings data on Wednesday, January 23rd. The transportation company reported $0.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.16. Covenant Transportation Group had a net margin of 4.80% and a return on equity of 13.57%. The business had revenue of $272.27 million during the quarter, compared to analysts’ expectations of $269.20 million. As a group, analysts anticipate that Covenant Transportation Group, Inc. will post 2.11 EPS for the current fiscal year.

A number of brokerages have recently issued reports on CVTI. Stephens set a $31.00 target price on shares of Covenant Transportation Group and gave the company a “buy” rating in a research report on Thursday, January 24th. Zacks Investment Research cut shares of Covenant Transportation Group from a “hold” rating to a “sell” rating in a research report on Wednesday, February 13th. BidaskClub raised shares of Covenant Transportation Group from a “strong sell” rating to a “sell” rating in a research report on Friday, January 25th. ValuEngine raised shares of Covenant Transportation Group from a “strong sell” rating to a “sell” rating in a research report on Thursday, January 24th. Finally, Cowen reissued a “market perform” rating and issued a $23.00 target price (down previously from $27.00) on shares of Covenant Transportation Group in a research report on Tuesday, March 19th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $28.00.

TRADEMARK VIOLATION NOTICE: “Covenant Transportation Group, Inc. (CVTI) Shares Sold by Hodges Capital Management Inc.” was first posted by Stock Observer and is owned by of Stock Observer. If you are reading this report on another site, it was stolen and reposted in violation of US & international copyright law. The legal version of this report can be accessed at https://www.thestockobserver.com/2019/04/17/covenant-transportation-group-inc-cvti-shares-sold-by-hodges-capital-management-inc.html.

Covenant Transportation Group Profile

Covenant Transportation Group, Inc, together with its subsidiaries, provides truckload transportation and brokerage services primarily in the continental United States. It offers expedited and dedicated services. The company also provides ancillary services, including freight brokerage and logistics services, warehousing, and accounts receivable factoring; and over-the-road truckload services, as well as transportation management, shuttle, and switching services.

Recommended Story: Catch-Up Contributions

Want to see what other hedge funds are holding CVTI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Covenant Transportation Group, Inc. (NASDAQ:CVTI).

Institutional Ownership by Quarter for Covenant Transportation Group (NASDAQ:CVTI)

Receive News & Ratings for Covenant Transportation Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Covenant Transportation Group and related companies with MarketBeat.com's FREE daily email newsletter.