Covenant Transportation Group, Inc. (NASDAQ:CVTI) Chairman David Ray Parker sold 60,919 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $30.04, for a total value of $1,830,006.76. Following the completion of the sale, the chairman now directly owns 110,580 shares of the company’s stock, valued at approximately $3,321,823.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

  • On Wednesday, November 1st, David Ray Parker sold 54,219 shares of Covenant Transportation Group stock. The stock was sold at an average price of $30.04, for a total value of $1,628,738.76.
  • On Wednesday, October 25th, David Ray Parker sold 57,381 shares of Covenant Transportation Group stock. The stock was sold at an average price of $28.68, for a total value of $1,645,687.08.
  • On Friday, October 27th, David Ray Parker sold 250,000 shares of Covenant Transportation Group stock. The stock was sold at an average price of $28.77, for a total value of $7,192,500.00.

Covenant Transportation Group, Inc. (NASDAQ:CVTI) traded down $0.55 during trading on Friday, hitting $29.17. The company had a trading volume of 129,269 shares, compared to its average volume of 211,140. The stock has a market capitalization of $545.87 million, a price-to-earnings ratio of 43.26 and a beta of 1.69.

Covenant Transportation Group (NASDAQ:CVTI) last released its earnings results on Thursday, October 19th. The transportation company reported $0.25 EPS for the quarter, topping the Zacks’ consensus estimate 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 firm had revenue of $178.60 million during the quarter, compared to the consensus estimate of $170.10 million. During the same quarter in the previous year, the company posted $0.16 earnings per share. The company’s revenue was up 8.6% compared to the same quarter last year. research analysts anticipate that Covenant Transportation Group, Inc. will post 0.86 EPS for the current year.

WARNING: “Insider Selling: Covenant Transportation Group, Inc. (CVTI) Chairman Sells 60,919 Shares of Stock” was first posted by American Banking News and is the property of of American Banking News. If you are accessing this news story on another site, it was stolen and republished in violation of United States and international copyright and trademark legislation. The legal version of this news story can be read at https://www.americanbankingnews.com/2017/11/03/insider-selling-covenant-transportation-group-inc-cvti-chairman-sells-60919-shares-of-stock.html.

Several institutional investors have recently added to or reduced their stakes in CVTI. Wellington Management Group LLP lifted its holdings in shares of Covenant Transportation Group by 194.1% during the first 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 period. Alliancebernstein L.P. lifted its holdings in shares of Covenant Transportation Group by 11.6% during the second quarter. Alliancebernstein L.P. now owns 1,480,296 shares of the transportation company’s stock worth $25,950,000 after purchasing an additional 153,410 shares during the period. Essex Investment Management Co. LLC acquired a new stake in shares of Covenant Transportation Group during the third quarter worth about $2,367,000. Vanguard Group Inc. lifted its holdings in shares of Covenant Transportation Group by 12.7% during the first quarter. Vanguard Group Inc. now owns 525,843 shares of the transportation company’s stock worth $9,887,000 after purchasing an additional 59,199 shares during the period. Finally, Foundry Partners LLC lifted its holdings in shares of Covenant Transportation Group by 19.8% during the third quarter. Foundry Partners LLC now owns 306,785 shares of the transportation company’s stock worth $8,891,000 after purchasing an additional 50,600 shares during the period. 60.82% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have weighed in on CVTI shares. TheStreet raised Covenant Transportation Group from a “c+” rating to a “b” rating in a report on Thursday, October 19th. Cowen and Company reissued a “buy” rating and issued a $24.00 price target on shares of Covenant Transportation Group in a report on Monday, August 28th. Zacks Investment Research raised Covenant Transportation Group from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. BidaskClub raised Covenant Transportation Group from a “sell” rating to a “hold” rating 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 investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $25.63.

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.

Insider Buying and Selling by Quarter for Covenant Transportation Group (NASDAQ:CVTI)

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.