Foundry Partners LLC Has $10.37 Million Stock Position in Covenant Logistics Group, Inc. (NASDAQ:CVLG)

Foundry Partners LLC grew its holdings in shares of Covenant Logistics Group, Inc. (NASDAQ:CVLG) by 6.2% in the third quarter, HoldingsChannel.com reports. The fund owned 196,303 shares of the company’s stock after acquiring an additional 11,459 shares during the quarter. Foundry Partners LLC’s holdings in Covenant Logistics Group were worth $10,373,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. AQR Capital Management LLC raised its position in Covenant Logistics Group by 0.3% in the 2nd quarter. AQR Capital Management LLC now owns 74,704 shares of the company’s stock valued at $3,682,000 after buying an additional 236 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Covenant Logistics Group by 7.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,491 shares of the company’s stock valued at $301,000 after acquiring an additional 442 shares during the last quarter. Huntington National Bank purchased a new position in Covenant Logistics Group in the third quarter worth $27,000. CWM LLC grew its stake in Covenant Logistics Group by 2,336.4% in the 2nd quarter. CWM LLC now owns 536 shares of the company’s stock valued at $26,000 after purchasing an additional 514 shares during the period. Finally, Innealta Capital LLC purchased a new stake in shares of Covenant Logistics Group during the 2nd quarter valued at $27,000. Institutional investors and hedge funds own 83.72% of the company’s stock.

Analysts Set New Price Targets

Separately, TD Cowen reduced their target price on shares of Covenant Logistics Group from $70.00 to $69.00 and set a “buy” rating for the company in a research report on Friday, October 25th.

Insider Buying and Selling at Covenant Logistics Group

In other news, Director Bradley A. Moline sold 7,000 shares of Covenant Logistics Group stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $59.64, for a total transaction of $417,480.00. Following the completion of the transaction, the director now directly owns 46,992 shares in the company, valued at approximately $2,802,602.88. This trade represents a 12.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 36.50% of the company’s stock.

Covenant Logistics Group Price Performance

Covenant Logistics Group stock opened at $56.74 on Thursday. Covenant Logistics Group, Inc. has a 52 week low of $41.38 and a 52 week high of $61.54. The stock has a market cap of $747.83 million, a price-to-earnings ratio of 14.19 and a beta of 1.35. The company has a quick ratio of 1.07, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. The business has a 50-day simple moving average of $53.52 and a 200 day simple moving average of $51.06.

Covenant Logistics Group (NASDAQ:CVLG) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. The firm had revenue of $287.89 million during the quarter. Covenant Logistics Group had a return on equity of 13.43% and a net margin of 3.72%. During the same quarter in the previous year, the company posted $1.13 earnings per share. On average, research analysts forecast that Covenant Logistics Group, Inc. will post 4 earnings per share for the current fiscal year.

Covenant Logistics Group Profile

Covenant Logistics Group, Inc, together with its subsidiaries, provides transportation and logistics services in the United States. It operates through four segments: Expedited, Dedicated, Managed Freight, and Warehousing. The Expedited segment primarily provides truckload services with high service freight and delivery standards, such as 1,000 miles in 22 hours or 15-minute delivery windows.