Joey Ballard Sells 4,000 Shares of Covenant Logistics Group (NYSE:CVLG) Stock

Covenant Logistics Group, Inc. (NYSE:CVLG) 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 value of $160,600.00. Following the completion of the sale, the executive vice president directly owned 13,149 shares of the company’s stock, valued at $527,932.35. The trade was a 23.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, May 26th, Joey Ballard sold 3,718 shares of Covenant Logistics Group stock. The stock was sold at an average price of $38.00, for a total value of $141,284.00.
• On Friday, May 22nd, Joey Ballard sold 4,282 shares of Covenant Logistics Group stock. The stock was sold at an average price of $37.40, for a total value of $160,146.80.

Covenant Logistics Group Stock Up 0.1%

Covenant Logistics Group stock opened at $41.14 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.04 and a quick ratio of 1.01. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 274.27 and a beta of 1.30. Covenant Logistics Group, Inc. has a 1-year low of $18.00 and a 1-year high of $41.96. The business has a fifty day moving average price of $31.95 and a 200-day moving average price of $27.21.

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CVLG shares. TD Cowen raised their price objective on Covenant Logistics Group from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Covenant Logistics Group in a research report on Friday. Wall Street Zen cut Covenant Logistics Group from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. Finally, Zacks Research raised Covenant Logistics Group from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Covenant Logistics Group presently has an average rating of “Hold” and a consensus target price of $35.00.

Hedge Funds Weigh In On Covenant Logistics Group

Several institutional investors and hedge funds have recently modified their holdings of CVLG. Quarry LP acquired a new position in shares of Covenant Logistics Group in the 3rd quarter valued at about $33,000. BNP Paribas Financial Markets lifted its holdings in shares of Covenant Logistics Group by 45.3% in the 2nd 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 period. Raymond James Financial Inc. acquired a new position in shares of Covenant Logistics Group in the 2nd quarter valued at about $39,000. Tower Research Capital LLC TRC lifted its holdings in shares of Covenant Logistics Group by 127.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,971 shares of the company’s stock valued at $48,000 after buying an additional 1,103 shares during the period. Finally, State of Alaska Department of Revenue lifted its holdings in shares of Covenant Logistics Group by 204.6% in the 4th quarter. State of Alaska Department of Revenue now owns 3,515 shares of the company’s stock valued at $77,000 after buying an additional 2,361 shares during the period. Institutional investors and hedge funds own 83.72% of the company’s stock.

Covenant Logistics Group Company 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.