Covenant Logistics Group, Inc. (NASDAQ:CVLG) Shares Acquired by Quadrature Capital Ltd

Quadrature Capital Ltd grew its stake in Covenant Logistics Group, Inc. (NASDAQ:CVLG) by 75.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,959 shares of the company’s stock after purchasing an additional 5,135 shares during the quarter. Quadrature Capital Ltd owned approximately 0.09% of Covenant Logistics Group worth $550,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. DekaBank Deutsche Girozentrale acquired a new stake in shares of Covenant Logistics Group in the 3rd quarter valued at about $130,000. SG Americas Securities LLC acquired a new stake in Covenant Logistics Group during the fourth quarter worth about $221,000. Summit Global Investments acquired a new stake in Covenant Logistics Group during the fourth quarter worth about $302,000. Caxton Associates LP acquired a new stake in Covenant Logistics Group during the third quarter worth about $345,000. Finally, Quest Partners LLC acquired a new stake in Covenant Logistics Group during the fourth quarter worth about $399,000. Institutional investors and hedge funds own 83.72% of the company’s stock.

Covenant Logistics Group Price Performance

CVLG opened at $47.28 on Friday. The firm has a market cap of $617.95 million, a price-to-earnings ratio of 15.15 and a beta of 1.33. Covenant Logistics Group, Inc. has a fifty-two week low of $38.25 and a fifty-two week high of $57.57. The company’s 50-day moving average price is $46.39 and its 200 day moving average price is $46.79. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.47.

Covenant Logistics Group (NASDAQ:CVLG) last released its quarterly earnings data on Wednesday, April 24th. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.03. The firm had revenue of $278.76 million for the quarter. Covenant Logistics Group had a net margin of 3.82% and a return on equity of 14.16%. As a group, sell-side analysts expect that Covenant Logistics Group, Inc. will post 4.12 earnings per share for the current year.

Covenant Logistics Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a $0.11 dividend. The ex-dividend date is Friday, June 7th. This represents a $0.44 annualized dividend and a dividend yield of 0.93%. Covenant Logistics Group’s payout ratio is currently 14.10%.

Insider Buying and Selling at Covenant Logistics Group

In other Covenant Logistics Group news, Director D Michael Kramer sold 3,725 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $46.64, for a total value of $173,734.00. Following the sale, the director now owns 11,285 shares in the company, valued at $526,332.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 36.50% of the stock is owned by company insiders.

Covenant Logistics Group Company Profile

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.