Covenant Logistics Group, Inc. (NYSE:CVLG – Get Free Report) Director Joey Hogan sold 12,800 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $39.18, for a total value of $501,504.00. Following the completion of the transaction, the director owned 91,294 shares in the company, valued at approximately $3,576,898.92. This trade represents a 12.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Covenant Logistics Group Stock Performance
CVLG stock opened at $39.71 on Friday. The company has a market cap of $999.50 million, a P/E ratio of 264.73 and a beta of 1.28. Covenant Logistics Group, Inc. has a 1 year low of $18.00 and a 1 year high of $40.00. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.04 and a quick ratio of 1.01. The stock’s fifty day moving average price is $31.63 and its 200-day moving average price is $27.00.
Covenant Logistics Group (NYSE:CVLG – Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.09). The firm had revenue of $307.16 million during the quarter. Covenant Logistics Group had a return on equity of 9.41% and a net margin of 0.42%. On average, equities analysts forecast that Covenant Logistics Group, Inc. will post 1.6 earnings per share for the current year.
Analyst Upgrades and Downgrades
Check Out Our Latest Stock Report on Covenant Logistics Group
Hedge Funds Weigh In On Covenant Logistics Group
A number of institutional investors have recently bought and sold shares of CVLG. Royal Bank of Canada raised its holdings in Covenant Logistics Group by 90.5% in the 1st quarter. Royal Bank of Canada now owns 24,108 shares of the company’s stock worth $535,000 after purchasing an additional 11,454 shares during the period. AQR Capital Management LLC raised its holdings in Covenant Logistics Group by 97.5% in the 1st quarter. AQR Capital Management LLC now owns 88,761 shares of the company’s stock worth $1,970,000 after purchasing an additional 43,816 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Covenant Logistics Group by 108.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,586 shares of the company’s stock worth $213,000 after purchasing an additional 4,985 shares during the period. Goldman Sachs Group Inc. raised its holdings in Covenant Logistics Group by 161.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 179,304 shares of the company’s stock worth $3,981,000 after purchasing an additional 110,810 shares during the period. Finally, Jane Street Group LLC raised its holdings in Covenant Logistics Group by 27.6% in the 1st quarter. Jane Street Group LLC now owns 21,937 shares of the company’s stock worth $487,000 after purchasing an additional 4,743 shares during the period. 83.72% of the stock is owned by institutional investors.
About Covenant Logistics Group
Covenant Logistics Group provides a comprehensive suite of transportation and logistics services across North America. The company’s core offerings include less‐than‐truckload (LTL) and full truckload hauling, temperature‐controlled freight, intermodal transportation and freight brokerage. Covenant also delivers specialized solutions such as expedited “hot‐shot” deliveries, cross‐border shipping to Canada and Mexico, and dedicated contract carriage for time‐sensitive or high‐value shipments.
With a network of service centers, terminals and partner carriers strategically located throughout the United States, Covenant supports diverse industries including food and beverage, automotive, retail, energy and manufacturing.
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