Covenant Logistics Group, Inc. (NASDAQ:CVLG) Short Interest Down 12.2% in December

Covenant Logistics Group, Inc. (NASDAQ:CVLGGet Free Report) saw a significant drop in short interest in the month of December. As of December 31st, there was short interest totalling 113,400 shares, a drop of 12.2% from the December 15th total of 129,200 shares. Currently, 1.6% of the shares of the stock are short sold. Based on an average daily volume of 50,200 shares, the short-interest ratio is currently 2.3 days.

Covenant Logistics Group Trading Down 0.5 %

CVLG opened at $45.52 on Thursday. The company has a 50-day simple moving average of $43.72 and a 200 day simple moving average of $45.60. Covenant Logistics Group has a twelve month low of $29.34 and a twelve month high of $57.57. The company has a quick ratio of 1.15, a current ratio of 1.18 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $589.48 million, a price-to-earnings ratio of 11.64 and a beta of 1.47.

Covenant Logistics Group (NASDAQ:CVLGGet Free Report) last released its earnings results on Wednesday, October 25th. The company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.01. Covenant Logistics Group had a return on equity of 16.35% and a net margin of 4.77%. The firm had revenue of $288.72 million during the quarter. Analysts predict that Covenant Logistics Group will post 4.16 EPS for the current fiscal year.

Covenant Logistics Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 1st were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.97%. The ex-dividend date was Thursday, November 30th. Covenant Logistics Group’s payout ratio is 11.25%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CVLG. Tower Research Capital LLC TRC lifted its stake in Covenant Logistics Group by 299.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 871 shares of the company’s stock valued at $38,000 after purchasing an additional 653 shares during the last quarter. West Tower Group LLC bought a new position in shares of Covenant Logistics Group in the 2nd quarter valued at $45,000. UBS Group AG lifted its stake in shares of Covenant Logistics Group by 2,728.1% in the 3rd quarter. UBS Group AG now owns 1,810 shares of the company’s stock valued at $52,000 after acquiring an additional 1,746 shares during the last quarter. HHM Wealth Advisors LLC boosted its holdings in shares of Covenant Logistics Group by 96.3% during the 3rd quarter. HHM Wealth Advisors LLC now owns 1,570 shares of the company’s stock valued at $69,000 after acquiring an additional 770 shares in the last quarter. Finally, Citigroup Inc. grew its position in Covenant Logistics Group by 586.8% during the 2nd quarter. Citigroup Inc. now owns 2,747 shares of the company’s stock worth $120,000 after acquiring an additional 2,347 shares during the last quarter. Institutional investors own 56.48% of the company’s stock.

Covenant Logistics Group Company Profile

(Get Free Report)

Covenant Logistics Group, Inc, together with its subsidiaries, provides transportation and logistics services in the United States. It operates through four segments: Expedited, Dedicated, Managed Freight, and Warehousing. The Expedited segment primarily provides truckload services with high service freight and delivery standards, such as 1,000 miles in 22 hours or 15-minute delivery windows.

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