David Ray Parker Sells 15,000 Shares of Covenant Logistics Group (NYSE:CVLG) Stock

Covenant Logistics Group, Inc. (NYSE:CVLG) CEO David Ray Parker sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $28.46, for a total transaction of $426,900.00. Following the sale, the chief executive officer owned 2,297,944 shares of the company’s stock, valued at $65,399,486.24. This trade represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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 stock was 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 stock was sold at an average price of $28.66, for a total value of $1,604,960.00.

Covenant Logistics Group Stock Up 0.5%

CVLG opened at $29.68 on Thursday. The stock has a fifty day moving average of $25.36 and a 200-day moving average of $23.04. The company has a market capitalization of $743.48 million, a P/E ratio of 134.92 and a beta of 1.21. Covenant Logistics Group, Inc. has a fifty-two week low of $17.46 and a fifty-two week high of $30.18. 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 (NYSE:CVLG) last released its quarterly earnings results on Thursday, January 29th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.01). Covenant Logistics Group had a net margin of 0.62% and a return on equity of 9.57%. The business had revenue of $295.37 million during the quarter.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Man Group plc raised its position in Covenant Logistics Group by 3.5% during the fourth quarter. Man Group plc now owns 10,780 shares of the company’s stock valued at $238,000 after purchasing an additional 365 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Covenant Logistics Group by 4.2% during the 4th quarter. SG Americas Securities LLC now owns 11,926 shares of the company’s stock worth $263,000 after buying an additional 478 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of 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 buying an additional 487 shares during the last quarter. Empowered Funds LLC boosted its stake in Covenant Logistics Group by 0.4% in the second quarter. Empowered Funds LLC now owns 173,532 shares of the company’s stock valued at $4,184,000 after buying an additional 744 shares in the last quarter. Finally, Two Sigma Investments LP boosted its stake in Covenant Logistics Group by 2.7% in the third quarter. Two Sigma Investments LP now owns 40,982 shares of the company’s stock valued at $888,000 after buying an additional 1,068 shares in the last quarter. 83.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CVLG shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Covenant Logistics Group in a research note on Friday, January 9th. Zacks Research cut Covenant Logistics Group from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 21st. One research 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $30.00.

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.