Covenant Logistics Group, Inc. $CVLG Shares Acquired by Sei Investments Co.

Sei Investments Co. grew its holdings in shares of Covenant Logistics Group, Inc. (NYSE:CVLG) by 95.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 51,766 shares of the company’s stock after purchasing an additional 25,331 shares during the quarter. Sei Investments Co.’s holdings in Covenant Logistics Group were worth $1,405,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CVLG. Quarry LP purchased a new position in Covenant Logistics Group during the 3rd quarter worth $33,000. BNP Paribas Financial Markets raised its stake in Covenant Logistics Group by 45.3% in the second quarter. BNP Paribas Financial Markets now owns 1,562 shares of the company’s stock valued at $38,000 after buying an additional 487 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Covenant Logistics Group in the second quarter valued at about $39,000. Tower Research Capital LLC TRC boosted its holdings in 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 worth $48,000 after acquiring an additional 1,103 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in 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 worth $77,000 after acquiring an additional 2,361 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Wall Street Analyst Weigh In

CVLG has been the topic of several recent analyst reports. National Bank Financial set a $60.00 price objective on shares of Covenant Logistics Group in a report on Wednesday, July 15th. Weiss Ratings upgraded shares of Covenant Logistics Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, July 23rd. Stephens set a $54.00 target price on shares of Covenant Logistics Group and gave the stock an “overweight” rating in a research report on Friday, July 31st. Citigroup started coverage on shares of Covenant Logistics Group in a report on Wednesday, July 15th. They issued an “outperform” rating for the company. Finally, Wall Street Zen downgraded shares of Covenant Logistics Group from a “buy” rating to a “hold” rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Covenant Logistics Group currently has an average rating of “Buy” and an average price target of $52.25.

Insider Buying and Selling at Covenant Logistics Group

In other news, Director Joey B. Hogan sold 12,800 shares of the stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $39.18, for a total value of $501,504.00. Following the sale, the director owned 91,294 shares in the company, valued at $3,576,898.92. This represents a 12.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joey Ballard sold 4,000 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $40.15, for a total transaction of $160,600.00. Following the transaction, the executive vice president directly owned 13,149 shares of the company’s stock, valued at approximately $527,932.35. This trade represents a 23.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 24,800 shares of company stock worth $963,535 over the last ninety days. Insiders own 36.70% of the company’s stock.

Covenant Logistics Group Trading Down 0.4%

Covenant Logistics Group stock opened at $33.34 on Wednesday. The stock has a 50-day moving average price of $43.13 and a 200 day moving average price of $34.68. The company has a market capitalization of $839.17 million, a price-to-earnings ratio of 303.12 and a beta of 1.32. Covenant Logistics Group, Inc. has a 52 week low of $18.00 and a 52 week high of $49.88. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.50.

Covenant Logistics Group (NYSE:CVLG) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share for the quarter. Covenant Logistics Group had a net margin of 0.31% and a return on equity of 9.15%. The company had revenue of $332.87 million for the quarter. Sell-side analysts anticipate that Covenant Logistics Group, Inc. will post 1.6 EPS for the current year.

Covenant Logistics Group Profile

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.