GSA Capital Partners LLP Makes New $215,000 Investment in Covenant Logistics Group, Inc. (NASDAQ:CVLG)

GSA Capital Partners LLP acquired a new position in shares of Covenant Logistics Group, Inc. (NASDAQ:CVLG) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 4,071 shares of the company’s stock, valued at approximately $215,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. EMC Capital Management lifted its holdings in shares of Covenant Logistics Group by 374.9% during the 3rd quarter. EMC Capital Management now owns 15,312 shares of the company’s stock valued at $809,000 after purchasing an additional 12,088 shares in the last quarter. Stephens Inc. AR acquired a new position in Covenant Logistics Group in the 3rd quarter worth $468,000. nVerses Capital LLC raised its stake in shares of Covenant Logistics Group by 550.0% in the 3rd quarter. nVerses Capital LLC now owns 1,300 shares of the company’s stock valued at $69,000 after purchasing an additional 1,100 shares during the period. Oliver Luxxe Assets LLC grew its holdings in shares of Covenant Logistics Group by 109.7% during the third quarter. Oliver Luxxe Assets LLC now owns 34,734 shares of the company’s stock worth $1,835,000 after buying an additional 18,168 shares in the last quarter. Finally, Shaker Investments LLC OH bought a new stake in Covenant Logistics Group in the 3rd quarter valued at approximately $541,000. 83.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Covenant Logistics Group Trading Up 1.4 %

CVLG opened at $57.77 on Monday. The company has a quick ratio of 1.07, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. Covenant Logistics Group, Inc. has a twelve month low of $41.38 and a twelve month high of $61.54. The stock has a market capitalization of $761.41 million, a price-to-earnings ratio of 19.00 and a beta of 1.35. The company has a 50-day simple moving average of $53.74 and a 200 day simple moving average of $51.26.

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 net margin of 3.72% and a return on equity of 13.43%. The company had revenue of $287.89 million for the quarter. During the same period in the prior year, the firm earned $1.13 EPS. Analysts predict that Covenant Logistics Group, Inc. will post 4 EPS for the current fiscal year.

Insiders Place Their Bets

In other Covenant Logistics Group news, Director Bradley A. Moline sold 7,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $59.64, for a total transaction of $417,480.00. Following the sale, the director now directly owns 46,992 shares of the company’s stock, valued at $2,802,602.88. This represents a 12.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 36.50% of the company’s stock.

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.