Covenant Transportation Group, Inc. (NASDAQ:CVTI) CEO David Ray Parker sold 57,381 shares of the firm’s stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $28.68, for a total value of $1,645,687.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

  • On Friday, October 27th, David Ray Parker sold 250,000 shares of Covenant Transportation Group stock. The shares were sold at an average price of $28.77, for a total value of $7,192,500.00.

Shares of Covenant Transportation Group, Inc. (CVTI) traded up 1.60% during midday trading on Friday, reaching $29.19. The company had a trading volume of 297,993 shares. Covenant Transportation Group, Inc. has a 52-week low of $15.85 and a 52-week high of $30.61. The firm has a market cap of $533.80 million, a P/E ratio of 52.22 and a beta of 1.68. The company’s 50-day moving average is $26.95 and its 200-day moving average is $20.79.

Covenant Transportation Group (NASDAQ:CVTI) last announced its quarterly earnings data on Thursday, October 19th. The transportation company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.08. Covenant Transportation Group had a return on equity of 5.35% and a net margin of 1.82%. The business had revenue of $178.60 million during the quarter, compared to analysts’ expectations of $170.10 million. During the same period in the previous year, the firm earned $0.16 earnings per share. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. Equities research analysts expect that Covenant Transportation Group, Inc. will post $0.84 EPS for the current fiscal year.

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A number of large investors have recently bought and sold shares of CVTI. Nationwide Fund Advisors grew its stake 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 acquiring an additional 1,080 shares during the period. Bank of New York Mellon Corp grew its stake in Covenant Transportation Group by 5.8% in the first quarter. Bank of New York Mellon Corp now owns 63,247 shares of the transportation company’s stock valued at $1,190,000 after acquiring an additional 3,473 shares during the period. American International Group Inc. grew its stake 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 acquiring an additional 489 shares during the period. Wellington Management Group LLP grew its stake in Covenant Transportation Group by 194.1% in the first quarter. Wellington Management Group LLP now owns 373,626 shares of the transportation company’s stock valued at $7,024,000 after acquiring an additional 246,585 shares during the period. Finally, FMR LLC grew its stake in Covenant Transportation Group by 0.4% in the first quarter. FMR LLC now owns 463,000 shares of the transportation company’s stock valued at $8,704,000 after acquiring an additional 1,700 shares during the period. 62.13% of the stock is owned by hedge funds and other institutional investors.

Several brokerages have recently commented on CVTI. Cowen and Company reaffirmed a “hold” rating and set a $25.50 target price on shares of Covenant Transportation Group in a report on Tuesday. Zacks Investment Research raised Covenant Transportation Group from a “sell” rating to a “hold” rating in a report on Friday, September 22nd. BidaskClub raised Covenant Transportation Group from a “sell” rating to a “hold” rating in a report on Monday, August 14th. Stephens raised Covenant Transportation Group from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $20.00 to $25.00 in a report on Monday, August 14th. Finally, ValuEngine raised Covenant Transportation Group from a “sell” rating to a “hold” rating in a report on Monday, August 14th. Five analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Covenant Transportation Group has a consensus rating of “Hold” and an average target price of $25.63.

Covenant Transportation Group Company Profile

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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