Covenant Logistics Group (NYSE:CVLG) EVP Joey Ballard Sells 3,718 Shares of Stock

Covenant Logistics Group, Inc. (NYSE:CVLG) EVP Joey Ballard sold 3,718 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $38.00, for a total value of $141,284.00. Following the completion of the sale, the executive vice president owned 17,149 shares in the company, valued at approximately $651,662. This represents a 17.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Joey Ballard also recently made the following trade(s):

• On Friday, May 22nd, Joey Ballard sold 4,282 shares of Covenant Logistics Group stock. The shares were sold at an average price of $37.40, for a total value of $160,146.80.

Covenant Logistics Group Trading Up 2.2%

CVLG stock opened at $39.70 on Thursday. Covenant Logistics Group, Inc. has a 1-year low of $18.00 and a 1-year high of $39.79. The firm has a market cap of $999.25 million, a P/E ratio of 264.67 and a beta of 1.28. The business’s 50 day moving average is $31.05 and its 200-day moving average is $26.77. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.50.

Covenant Logistics Group (NYSE:CVLG) last released its quarterly earnings data on Thursday, April 23rd. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.09). Covenant Logistics Group had a net margin of 0.42% and a return on equity of 9.41%. The company had revenue of $307.16 million during the quarter. Equities analysts anticipate that Covenant Logistics Group, Inc. will post 1.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CVLG. T. Rowe Price Investment Management Inc. lifted its holdings in Covenant Logistics Group by 46.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 714,516 shares of the company’s stock worth $15,748,000 after buying an additional 227,216 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Covenant Logistics Group by 161.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 179,304 shares of the company’s stock worth $3,981,000 after buying an additional 110,810 shares in the last quarter. Algert Global LLC lifted its holdings in Covenant Logistics Group by 655.0% during the 3rd quarter. Algert Global LLC now owns 110,144 shares of the company’s stock worth $2,386,000 after buying an additional 95,556 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in Covenant Logistics Group by 19.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 363,022 shares of the company’s stock worth $7,863,000 after buying an additional 58,577 shares in the last quarter. Finally, Polaris Capital Management LLC lifted its holdings in Covenant Logistics Group by 1,061.0% during the 4th quarter. Polaris Capital Management LLC now owns 56,682 shares of the company’s stock worth $1,249,000 after buying an additional 51,800 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. TD Cowen boosted their target price on Covenant Logistics Group from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Zacks Research raised Covenant Logistics Group from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. Finally, Wall Street Zen downgraded Covenant Logistics Group from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $35.00.

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.