David Ray Parker Sells 15,653 Shares of Covenant Transportation Group, Inc. (CVTI) Stock

Covenant Transportation Group, Inc. (NASDAQ:CVTI) CEO David Ray Parker sold 15,653 shares of the stock in a transaction that occurred on Wednesday, June 13th. The stock was sold at an average price of $35.04, for a total transaction of $548,481.12. Following the completion of the sale, the chief executive officer now directly owns 114,443 shares of the company’s stock, valued at $4,010,082.72. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

  • On Monday, June 11th, David Ray Parker sold 92,799 shares of Covenant Transportation Group stock. The stock was sold at an average price of $32.63, for a total transaction of $3,028,031.37.
  • On Wednesday, June 6th, David Ray Parker sold 10,263 shares of Covenant Transportation Group stock. The stock was sold at an average price of $32.50, for a total transaction of $333,547.50.
  • On Friday, June 8th, David Ray Parker sold 51,417 shares of Covenant Transportation Group stock. The stock was sold at an average price of $32.52, for a total transaction of $1,672,080.84.
  • On Monday, March 19th, David Ray Parker sold 9,069 shares of Covenant Transportation Group stock. The stock was sold at an average price of $32.75, for a total transaction of $297,009.75.
  • On Wednesday, March 21st, David Ray Parker sold 68,261 shares of Covenant Transportation Group stock. The stock was sold at an average price of $32.67, for a total transaction of $2,230,086.87.
  • On Thursday, March 15th, David Ray Parker sold 51,652 shares of Covenant Transportation Group stock. The stock was sold at an average price of $30.00, for a total transaction of $1,549,560.00.

Covenant Transportation Group traded down $0.70, hitting $32.71, during midday trading on Thursday, MarketBeat Ratings reports. The company’s stock had a trading volume of 2,630 shares, compared to its average volume of 186,673. Covenant Transportation Group, Inc. has a 12 month low of $15.86 and a 12 month high of $35.19. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.18 and a quick ratio of 2.12. The company has a market capitalization of $599.42 million, a price-to-earnings ratio of 38.86 and a beta of 1.58.

Covenant Transportation Group (NASDAQ:CVTI) last posted its quarterly earnings results on Wednesday, April 25th. The transportation company reported $0.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.01. Covenant Transportation Group had a return on equity of 7.34% and a net margin of 8.32%. The business had revenue of $173.57 million during the quarter, compared to the consensus estimate of $169.15 million. sell-side analysts anticipate that Covenant Transportation Group, Inc. will post 1.92 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. Macquarie Group Ltd. boosted its stake in Covenant Transportation Group by 846.5% in the 4th quarter. Macquarie Group Ltd. now owns 37,010 shares of the transportation company’s stock worth $1,063,000 after purchasing an additional 33,100 shares during the period. Citadel Advisors LLC boosted its stake in Covenant Transportation Group by 72.8% in the 4th quarter. Citadel Advisors LLC now owns 34,748 shares of the transportation company’s stock worth $998,000 after purchasing an additional 14,638 shares during the period. Millennium Management LLC bought a new position in Covenant Transportation Group in the 4th quarter worth approximately $9,225,000. Cornerstone Capital Management Holdings LLC. bought a new position in Covenant Transportation Group in the 4th quarter worth approximately $1,318,000. Finally, Bank of Montreal Can boosted its stake in Covenant Transportation Group by 17,027.4% in the 4th quarter. Bank of Montreal Can now owns 58,747 shares of the transportation company’s stock worth $1,688,000 after purchasing an additional 58,404 shares during the period. Institutional investors and hedge funds own 63.58% of the company’s stock.

CVTI has been the subject of several analyst reports. Stifel Nicolaus raised shares of Covenant Transportation Group from a “hold” rating to a “buy” rating and increased their target price for the stock from $34.00 to $35.00 in a report on Thursday, April 26th. Seaport Global Securities raised shares of Covenant Transportation Group from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a report on Thursday, March 15th. BidaskClub lowered shares of Covenant Transportation Group from a “hold” rating to a “sell” rating in a report on Saturday, April 28th. ValuEngine raised shares of Covenant Transportation Group from a “hold” rating to a “buy” rating in a report on Thursday, March 15th. Finally, Zacks Investment Research raised shares of Covenant Transportation Group from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a report on Tuesday. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Covenant Transportation Group presently has a consensus rating of “Buy” and an average price target of $34.60.

About Covenant Transportation Group

Covenant Transportation Group, Inc, together with its subsidiaries, provides truckload transportation and brokerage services primarily in the continental United States. It offers long haul, dedicated, temperature-controlled, and regional solo-driver services; long haul, regional, dedicated, and intermodal temperature-controlled services; and regional solo-driver and dedicated services.

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

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