Covenant Transportation Group, Inc. (NASDAQ:CVTI) CEO David Ray Parker sold 54,219 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $30.04, for a total transaction of $1,628,738.76. Following the completion of the sale, the chief executive officer now directly owns 110,580 shares in the company, valued at $3,321,823.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

  • On Friday, November 3rd, David Ray Parker sold 60,919 shares of Covenant Transportation Group stock. The shares were 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 shares were 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 shares were sold at an average price of $28.77, for a total transaction of $7,192,500.00.

Shares of Covenant Transportation Group, Inc. (CVTI) traded down $0.55 during mid-day trading on Friday, reaching $29.17. 129,269 shares of the company’s stock traded hands, compared to its average volume of 211,140. The stock has a market cap of $545.87 million, a price-to-earnings ratio of 43.26 and a beta of 1.69.

Covenant Transportation Group (NASDAQ:CVTI) last issued its quarterly earnings results on Thursday, October 19th. The transportation company reported $0.25 earnings per share (EPS) for the quarter, beating 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 5.35%. The firm had revenue of $178.60 million for the quarter, compared to analyst estimates of $170.10 million. During the same period in the previous year, the business earned $0.16 EPS. The company’s revenue was up 8.6% compared to the same quarter last year. equities research analysts predict that Covenant Transportation Group, Inc. will post 0.86 earnings per share for the current fiscal year.

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Several equities research analysts recently commented on CVTI shares. BidaskClub cut shares of Covenant Transportation Group from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th. Stephens raised shares of Covenant Transportation Group from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $20.00 to $25.00 in a research report on Monday, August 14th. ValuEngine raised shares of Covenant Transportation Group from a “sell” rating to a “hold” rating in a research report on Monday, August 14th. Cowen and Company reiterated a “buy” rating and issued a $24.00 price target on shares of Covenant Transportation Group in a research note on Monday, August 28th. Finally, Zacks Investment Research upgraded shares of Covenant Transportation Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 29th. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $25.63.

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Covenant Transportation Group by 12.7% in the 1st quarter. Vanguard Group Inc. now owns 525,843 shares of the transportation company’s stock valued at $9,887,000 after buying an additional 59,199 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Covenant Transportation Group by 56.3% during the 1st quarter. Bank of America Corp DE now owns 40,854 shares of the transportation company’s stock worth $767,000 after purchasing an additional 14,724 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of Covenant Transportation Group by 34.0% during the 2nd quarter. Fisher Asset Management LLC now owns 122,242 shares of the transportation company’s stock worth $2,143,000 after purchasing an additional 31,042 shares during the last quarter. FMR LLC increased its stake in shares of Covenant Transportation Group by 0.4% during the 1st quarter. FMR LLC now owns 463,000 shares of the transportation company’s stock worth $8,704,000 after purchasing an additional 1,700 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Covenant Transportation Group by 194.1% during the 1st quarter. Wellington Management Group LLP now owns 373,626 shares of the transportation company’s stock worth $7,024,000 after purchasing an additional 246,585 shares during the last quarter. Hedge funds and other institutional investors own 60.82% of the company’s stock.

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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