Covenant Transportation Group, Inc. (NASDAQ:CVTI) VP Ralph H. Lovin, Jr. sold 8,922 shares of the company’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $25.48, for a total value of $227,332.56. Following the completion of the transaction, the vice president now directly owns 46,371 shares in the company, valued at approximately $1,181,533.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Covenant Transportation Group, Inc. (NASDAQ CVTI) traded up 0.35% during trading on Friday, hitting $25.83. 70,967 shares of the stock traded hands. Covenant Transportation Group, Inc. has a one year low of $14.26 and a one year high of $26.26. The company’s 50 day moving average is $20.59 and its 200 day moving average is $18.79. The company has a market capitalization of $472.35 million, a P/E ratio of 46.21 and a beta of 1.61.

Covenant Transportation Group (NASDAQ:CVTI) last issued its quarterly earnings data on Tuesday, July 25th. The transportation company reported $0.08 EPS for the quarter, hitting analysts’ consensus estimates of $0.08. Covenant Transportation Group had a net margin of 1.60% and a return on equity of 4.65%. The business had revenue of $164.30 million for the quarter, compared to analyst estimates of $158.40 million. During the same period last year, the business posted $0.20 earnings per share. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. On average, equities analysts forecast that Covenant Transportation Group, Inc. will post $0.71 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: This piece was first reported by American Banking News and is owned by of American Banking News. If you are reading this piece on another site, it was illegally copied and reposted in violation of international copyright & trademark legislation. The correct version of this piece can be viewed at https://www.americanbankingnews.com/2017/09/08/covenant-transportation-group-inc-cvti-vp-ralph-h-lovin-jr-sells-8922-shares.html.

CVTI has been the topic of several research analyst reports. Cowen and Company reiterated a “buy” rating and set a $24.00 price objective on shares of Covenant Transportation Group in a research report on Monday, August 28th. Zacks Investment Research upgraded shares of Covenant Transportation Group from a “sell” rating to a “hold” rating in a research report on Tuesday. ValuEngine upgraded shares of Covenant Transportation Group from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub upgraded shares of Covenant Transportation Group from a “sell” rating to a “hold” rating in a research report on Monday, August 14th. Finally, Stephens upgraded shares of Covenant Transportation Group from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $20.00 to $25.00 in a research report on Monday, August 14th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $23.00.

A number of institutional investors have recently added to or reduced their stakes in CVTI. American International Group Inc. grew its position in Covenant Transportation Group by 7.2% in the first quarter. American International Group Inc. now owns 7,309 shares of the transportation company’s stock valued at $137,000 after purchasing an additional 489 shares in the last quarter. Nationwide Fund Advisors grew its position in Covenant Transportation Group by 11.9% in the first quarter. Nationwide Fund Advisors now owns 10,166 shares of the transportation company’s stock valued at $191,000 after purchasing an additional 1,080 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Covenant Transportation Group by 15.6% in the second quarter. The Manufacturers Life Insurance Company now owns 10,909 shares of the transportation company’s stock valued at $191,000 after purchasing an additional 1,472 shares in the last quarter. Rhumbline Advisers grew its position in Covenant Transportation Group by 5.9% in the second quarter. Rhumbline Advisers now owns 13,745 shares of the transportation company’s stock valued at $241,000 after purchasing an additional 760 shares in the last quarter. Finally, Teachers Advisors LLC grew its position in Covenant Transportation Group by 7.0% in the fourth quarter. Teachers Advisors LLC now owns 19,263 shares of the transportation company’s stock valued at $373,000 after purchasing an additional 1,268 shares in the last quarter. 62.13% of the stock is owned by institutional investors and hedge funds.

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.

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