Insider Selling: Covenant Transportation Group, Inc. (CVTI) CEO Sells 3,814 Shares of Stock

Covenant Transportation Group, Inc. (NASDAQ:CVTI) CEO David Ray Parker sold 3,814 shares of Covenant Transportation Group stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $30.00, for a total value of $114,420.00. Following the completion of the transaction, the chief executive officer now directly owns 110,580 shares in the company, valued at $3,317,400. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

David Ray Parker also recently made the following trade(s):

  • On Friday, November 24th, David Ray Parker sold 10,783 shares of Covenant Transportation Group stock. The stock was sold at an average price of $30.02, for a total value of $323,705.66.
  • On Wednesday, November 1st, David Ray Parker sold 54,219 shares of Covenant Transportation Group stock. The stock was sold at an average price of $30.04, for a total value of $1,628,738.76.
  • On Friday, November 3rd, David Ray Parker sold 60,919 shares of Covenant Transportation Group stock. The stock was sold at an average price of $30.04, for a total value of $1,830,006.76.
  • On Wednesday, October 25th, David Ray Parker sold 57,381 shares of Covenant Transportation Group stock. The stock was sold at an average price of $28.68, for a total value of $1,645,687.08.
  • On Friday, October 27th, David Ray Parker sold 250,000 shares of Covenant Transportation Group stock. The stock was sold at an average price of $28.77, for a total value of $7,192,500.00.

Covenant Transportation Group, Inc. (CVTI) traded down $0.77 on Monday, hitting $28.50. The stock had a trading volume of 127,075 shares, compared to its average volume of 113,018. The company has a quick ratio of 1.62, a current ratio of 1.66 and a debt-to-equity ratio of 0.77. Covenant Transportation Group, Inc. has a 52-week low of $15.86 and a 52-week high of $30.60. The stock has a market capitalization of $535.35, a PE ratio of 42.42 and a beta of 1.69.

Covenant Transportation Group (NASDAQ:CVTI) last posted its earnings results on Thursday, October 19th. The transportation company reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.08. Covenant Transportation Group had a return on equity of 5.30% and a net margin of 1.82%. The firm had revenue of $178.60 million for the quarter, compared to analysts’ expectations of $170.10 million. During the same period in the previous year, the firm earned $0.16 earnings per share. The business’s revenue was up 8.6% compared to the same quarter last year. analysts forecast that Covenant Transportation Group, Inc. will post 0.89 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Covenant Transportation Group by 12.7% during the first quarter. Vanguard Group Inc. now owns 525,843 shares of the transportation company’s stock valued at $9,887,000 after buying an additional 59,199 shares during the period. Bank of America Corp DE increased its stake in shares of Covenant Transportation Group by 56.3% during the first quarter. Bank of America Corp DE now owns 40,854 shares of the transportation company’s stock valued at $767,000 after buying an additional 14,724 shares during the period. Essex Investment Management Co. LLC purchased a new position in shares of Covenant Transportation Group during the third quarter valued at approximately $2,367,000. Nationwide Fund Advisors increased its stake in shares of Covenant Transportation Group by 156.4% during the second quarter. Nationwide Fund Advisors now owns 26,066 shares of the transportation company’s stock valued at $457,000 after buying an additional 15,900 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Covenant Transportation Group by 4.2% during the first quarter. Geode Capital Management LLC now owns 100,207 shares of the transportation company’s stock valued at $1,883,000 after buying an additional 4,068 shares during the period. 62.02% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have commented on CVTI shares. Zacks Investment Research raised Covenant Transportation Group from a “sell” rating to a “hold” rating in a research note on Tuesday, September 5th. TheStreet raised Covenant Transportation Group from a “c+” rating to a “b” rating in a research note on Thursday, October 19th. BidaskClub raised Covenant Transportation Group from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 3rd. ValuEngine raised Covenant Transportation Group from a “sell” rating to a “hold” rating in a research note on Monday, August 14th. Finally, Stephens raised Covenant Transportation Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $20.00 to $25.00 in a research note on Monday, August 14th. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Covenant Transportation Group presently has a consensus rating of “Hold” and an average price target of $25.63.

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About Covenant Transportation Group

Covenant Transportation Group, Inc is a provider of expedited long haul freight transportation, primarily using two-person driver teams in transcontinental lanes. The Company’s services also include refrigerated, dedicated, cross-border, regional and brokerage. The Company’s segments include Truckload and Other.

Insider Buying and Selling by Quarter for Covenant Transportation Group (NASDAQ:CVTI)

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