39,958 Covenant Logistics Group, Inc. $CVLG Shares Bought by Penn Capital Management Company LLC

Penn Capital Management Company LLC increased its holdings in Covenant Logistics Group, Inc. (NYSE:CVLG) by 190.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,971 shares of the company’s stock after purchasing an additional 39,958 shares during the period. Penn Capital Management Company LLC’s holdings in Covenant Logistics Group were worth $1,971,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in CVLG. Ranger Investment Management L.P. bought a new position in Covenant Logistics Group in the 2nd quarter worth approximately $10,456,000. Sei Investments Co. raised its position in shares of Covenant Logistics Group by 95.8% during the first quarter. Sei Investments Co. now owns 51,766 shares of the company’s stock valued at $1,405,000 after buying an additional 25,331 shares during the last quarter. Quantinno Capital Management LP raised its position in shares of Covenant Logistics Group by 61.1% during the first quarter. Quantinno Capital Management LP now owns 38,453 shares of the company’s stock valued at $1,044,000 after buying an additional 14,590 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Covenant Logistics Group during the second quarter valued at approximately $631,000. Finally, Janus Henderson Group PLC purchased a new position in shares of Covenant Logistics Group in the first quarter worth $245,000. 83.72% of the stock is owned by hedge funds and other institutional investors.

Covenant Logistics Group Price Performance

Shares of Covenant Logistics Group stock opened at $32.71 on Tuesday. The firm has a market cap of $830.26 million, a PE ratio of 204.46 and a beta of 1.44. The stock has a 50 day moving average of $32.65 and a 200 day moving average of $34.15. The company has a current ratio of 1.14, a quick ratio of 1.10 and a debt-to-equity ratio of 0.55. Covenant Logistics Group, Inc. has a 12 month low of $18.00 and a 12 month high of $49.88.

Covenant Logistics Group (NYSE:CVLG) last released its quarterly earnings data on Thursday, October 29th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.06. Covenant Logistics Group had a return on equity of 9.64% and a net margin of 0.42%. The business had revenue of $353.89 million for the quarter. On average, research analysts expect that Covenant Logistics Group, Inc. will post 1.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Citizens Jmp started coverage on shares of Covenant Logistics Group in a research report on Wednesday, July 15th. They set a “market outperform” rating and a $60.00 target price for the company. Stephens set a $54.00 price target on shares of Covenant Logistics Group and gave the company an “overweight” rating in a report on Friday, July 31st. National Bank Financial set a $60.00 price target on shares of Covenant Logistics Group in a report on Wednesday, July 15th. TD Cowen decreased their price target on shares of Covenant Logistics Group from $43.00 to $42.00 and set a “buy” rating on the stock in a research note on Monday, October 5th. Finally, Robert W. Baird set a $50.00 price objective on shares of Covenant Logistics Group and gave the company an “outperform” rating in a report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.20.

Covenant Logistics Group Company Profile

Covenant Logistics Group, Inc is a transportation and logistics company headquartered in Chattanooga, Tennessee. Founded in 1986, the company provides freight transportation, supply chain management and related logistics services to customers across North America.

Its operations include expedited and dedicated truckload transportation, refrigerated and temperature-controlled freight, freight brokerage, managed transportation and warehousing. Covenant also provides final-mile delivery, cross-docking, fulfillment and other distribution services designed to support customers’ supply chains.

The company serves a range of industries, including retail, consumer goods, food and beverage, automotive and manufacturing.