Covenant Logistics Group, Inc. (NASDAQ:CVLG) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. reduced its position in Covenant Logistics Group, Inc. (NASDAQ:CVLG) by 19.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 88,785 shares of the company’s stock after selling 20,854 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.34% of Covenant Logistics Group worth $4,840,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Townsquare Capital LLC lifted its position in shares of Covenant Logistics Group by 7.8% during the third quarter. Townsquare Capital LLC now owns 4,921 shares of the company’s stock worth $260,000 after purchasing an additional 357 shares during the last quarter. Private Advisor Group LLC boosted its position in Covenant Logistics Group by 11.8% during the 4th quarter. Private Advisor Group LLC now owns 4,567 shares of the company’s stock valued at $249,000 after purchasing an additional 481 shares during the period. SG Americas Securities LLC grew its position in shares of Covenant Logistics Group by 34.0% during the fourth quarter. SG Americas Securities LLC now owns 4,715 shares of the company’s stock worth $257,000 after acquiring an additional 1,196 shares during the last quarter. Quantbot Technologies LP bought a new position in Covenant Logistics Group in the 3rd quarter worth about $64,000. Finally, Oliver Luxxe Assets LLC grew its holdings in Covenant Logistics Group by 4.0% in the 4th quarter. Oliver Luxxe Assets LLC now owns 36,126 shares of the company’s stock worth $1,969,000 after buying an additional 1,392 shares in the last quarter. 83.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Stephens reissued an “overweight” rating and set a $36.00 target price on shares of Covenant Logistics Group in a research note on Friday, January 24th.

Insider Buying and Selling at Covenant Logistics Group

In other news, CAO Matisse Long sold 2,114 shares of Covenant Logistics Group stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $28.95, for a total transaction of $61,200.30. Following the transaction, the chief accounting officer now owns 15,434 shares in the company, valued at approximately $446,814.30. The trade was a 12.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 36.50% of the company’s stock.

Covenant Logistics Group Stock Down 1.8 %

NASDAQ CVLG opened at $22.69 on Wednesday. Covenant Logistics Group, Inc. has a 12 month low of $21.52 and a 12 month high of $30.77. The company’s 50 day simple moving average is $25.87 and its 200 day simple moving average is $26.96. The company has a market capitalization of $602.42 million, a P/E ratio of 17.52 and a beta of 1.45. 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 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.23%. This is an increase from Covenant Logistics Group’s previous quarterly dividend of $0.06. The ex-dividend date is Friday, March 7th. Covenant Logistics Group’s dividend payout ratio is currently 21.71%.

Covenant Logistics Group 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.