Covenant Logistics Group, Inc. (NASDAQ:CVLG) Shares Sold by DGS Capital Management LLC

DGS Capital Management LLC cut its position in shares of Covenant Logistics Group, Inc. (NASDAQ:CVLG) by 13.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,699 shares of the company’s stock after selling 1,216 shares during the period. DGS Capital Management LLC’s holdings in Covenant Logistics Group were worth $407,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Huntington National Bank purchased a new stake in shares of Covenant Logistics Group during the third quarter worth approximately $27,000. CWM LLC grew its holdings in shares of Covenant Logistics Group by 2,336.4% during the second quarter. CWM LLC now owns 536 shares of the company’s stock worth $26,000 after buying an additional 514 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of Covenant Logistics Group in the second quarter worth about $27,000. Quantbot Technologies LP acquired a new position in Covenant Logistics Group during the third quarter worth about $64,000. Finally, nVerses Capital LLC grew its stake in Covenant Logistics Group by 550.0% during the 3rd quarter. nVerses Capital LLC now owns 1,300 shares of the company’s stock valued at $69,000 after acquiring an additional 1,100 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Insider Buying and Selling at Covenant Logistics Group

In related news, Director Bradley A. Moline sold 7,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $59.64, for a total transaction of $417,480.00. Following the completion of the transaction, the director now directly owns 46,992 shares in the company, valued at $2,802,602.88. This trade represents a 12.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 36.50% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, TD Cowen reduced their price objective on Covenant Logistics Group from $70.00 to $69.00 and set a “buy” rating on the stock in a research report on Friday, October 25th.

Covenant Logistics Group Stock Performance

Covenant Logistics Group stock opened at $58.34 on Friday. The firm has a 50 day simple moving average of $55.43 and a 200-day simple moving average of $52.37. The stock has a market cap of $768.92 million, a price-to-earnings ratio of 19.19 and a beta of 1.39. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 1.07. Covenant Logistics Group, Inc. has a 1-year low of $43.00 and a 1-year high of $61.54.

Covenant Logistics Group (NASDAQ:CVLG) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.01. Covenant Logistics Group had a return on equity of 13.43% and a net margin of 3.72%. The company had revenue of $287.89 million during the quarter. During the same quarter in the previous year, the company posted $1.13 earnings per share. On average, analysts expect that Covenant Logistics Group, Inc. will post 4 EPS for the current year.

Covenant Logistics Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Friday, December 6th. Covenant Logistics Group’s dividend payout ratio (DPR) is presently 14.47%.

About Covenant Logistics Group

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.