Covenant Logistics Group (NYSE:CVLG) CEO Sells $426,900.00 in Stock

Covenant Logistics Group, Inc. (NYSE:CVLG) CEO David Ray Parker sold 15,000 shares of the stock in a transaction on Friday, February 13th. The shares were sold at an average price of $28.46, for a total value of $426,900.00. Following the completion of the transaction, the chief executive officer directly owned 2,297,944 shares in the company, valued at approximately $65,399,486.24. This trade represents a 0.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, February 17th, David Ray Parker sold 100,000 shares of Covenant Logistics Group stock. The shares were sold at an average price of $29.67, for a total value of $2,967,000.00.
• On Thursday, February 12th, David Ray Parker sold 20,000 shares of Covenant Logistics Group stock. The shares were sold at an average price of $29.02, for a total value of $580,400.00.
• On Wednesday, February 11th, David Ray Parker sold 27,400 shares of Covenant Logistics Group stock. The stock was sold at an average price of $29.34, for a total value of $803,916.00.
• On Tuesday, February 10th, David Ray Parker sold 70,000 shares of Covenant Logistics Group stock. The shares were sold at an average price of $29.05, for a total value of $2,033,500.00.
• On Monday, February 9th, David Ray Parker sold 56,000 shares of Covenant Logistics Group stock. The shares were sold at an average price of $28.66, for a total transaction of $1,604,960.00.

Covenant Logistics Group Stock Down 0.5%

Shares of NYSE CVLG opened at $29.49 on Friday. The stock has a market cap of $738.72 million, a P/E ratio of 134.05 and a beta of 1.21. The firm has a 50 day moving average price of $25.49 and a 200 day moving average price of $23.08. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.98 and a current ratio of 1.01. Covenant Logistics Group, Inc. has a 52-week low of $17.46 and a 52-week high of $30.18.

Covenant Logistics Group (NYSE:CVLG) last posted its earnings results on Thursday, January 29th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.01). The firm had revenue of $295.37 million during the quarter. Covenant Logistics Group had a return on equity of 9.57% and a net margin of 0.62%.

Analyst Upgrades and Downgrades

CVLG has been the subject of several recent analyst reports. Zacks Research downgraded Covenant Logistics Group from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Covenant Logistics Group in a research report on Friday, January 9th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $30.00.

Institutional Trading of Covenant Logistics Group

A number of institutional investors have recently modified their holdings of the company. Quarry LP bought a new position in shares of Covenant Logistics Group during the third quarter worth about $33,000. BNP Paribas Financial Markets boosted its position in Covenant Logistics Group by 45.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,562 shares of the company’s stock worth $38,000 after acquiring an additional 487 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Covenant Logistics Group during the 2nd quarter worth approximately $39,000. Tower Research Capital LLC TRC raised its holdings in shares of Covenant Logistics Group by 127.1% in the second quarter. Tower Research Capital LLC TRC now owns 1,971 shares of the company’s stock valued at $48,000 after purchasing an additional 1,103 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in shares of Covenant Logistics Group by 204.6% in the fourth quarter. State of Alaska Department of Revenue now owns 3,515 shares of the company’s stock valued at $77,000 after purchasing an additional 2,361 shares during the last quarter. 83.72% of the stock is currently 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.