Covenant Logistics Group, Inc. (NASDAQ:CVLG) Stock Holdings Lifted by Private Advisor Group LLC

Private Advisor Group LLC lifted its stake in shares of Covenant Logistics Group, Inc. (NASDAQ:CVLG) by 11.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,567 shares of the company’s stock after acquiring an additional 481 shares during the quarter. Private Advisor Group LLC’s holdings in Covenant Logistics Group were worth $249,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Huntington National Bank bought a new stake in Covenant Logistics Group during the 3rd quarter valued at approximately $27,000. Quantbot Technologies LP bought a new stake in Covenant Logistics Group during the 3rd quarter worth approximately $64,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Covenant Logistics Group by 110.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,872 shares of the company’s stock valued at $205,000 after buying an additional 2,031 shares during the last quarter. GSA Capital Partners LLP bought a new position in Covenant Logistics Group in the 3rd quarter valued at $215,000. Finally, SG Americas Securities LLC boosted its position in shares of Covenant Logistics Group by 34.0% in the 4th quarter. SG Americas Securities LLC now owns 4,715 shares of the company’s stock worth $257,000 after purchasing an additional 1,196 shares during the last quarter. Institutional investors own 83.72% of the company’s stock.

Insider Activity at Covenant Logistics Group

In related news, CAO Matisse Long sold 2,114 shares of Covenant Logistics Group stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $28.95, for a total transaction of $61,200.30. Following the completion of the transaction, the chief accounting officer now owns 15,434 shares in the company, valued at approximately $446,814.30. This trade represents a 12.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 36.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

Covenant Logistics Group Stock Performance

CVLG opened at $24.72 on Friday. The business’s 50-day moving average price is $27.44 and its two-hundred day moving average price is $27.22. Covenant Logistics Group, Inc. has a 1 year low of $21.51 and a 1 year high of $30.77. The company has a market capitalization of $651.52 million, a price-to-earnings ratio of 19.09 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. Investors of record on Friday, March 7th will be given a $0.07 dividend. The ex-dividend date is Friday, March 7th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.13%. This is an increase from Covenant Logistics Group’s previous quarterly dividend of $0.06. Covenant Logistics Group’s 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.