Covenant Logistics Group, Inc. (NASDAQ:CVLG) is Patton Albertson Miller Group LLC’s 7th Largest Position

Patton Albertson Miller Group LLC grew its holdings in shares of Covenant Logistics Group, Inc. (NASDAQ:CVLG) by 100.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 576,250 shares of the company’s stock after purchasing an additional 288,125 shares during the quarter. Covenant Logistics Group makes up 1.9% of Patton Albertson Miller Group LLC’s investment portfolio, making the stock its 7th largest holding. Patton Albertson Miller Group LLC’s holdings in Covenant Logistics Group were worth $12,793,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CVLG. Rhumbline Advisers grew its holdings in Covenant Logistics Group by 97.7% during the 1st quarter. Rhumbline Advisers now owns 26,177 shares of the company’s stock valued at $581,000 after buying an additional 12,937 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Covenant Logistics Group by 1,289.4% during the 1st quarter. GAMMA Investing LLC now owns 1,709 shares of the company’s stock valued at $38,000 after acquiring an additional 1,586 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Covenant Logistics Group by 51.0% during the 4th quarter. JPMorgan Chase & Co. now owns 48,038 shares of the company’s stock valued at $2,619,000 after acquiring an additional 16,233 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Covenant Logistics Group by 10.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,605 shares of the company’s stock worth $687,000 after buying an additional 1,231 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in Covenant Logistics Group by 132.0% in the 4th quarter. Bank of America Corp DE now owns 28,484 shares of the company’s stock worth $1,553,000 after buying an additional 16,205 shares during the last quarter. 83.72% of the stock is owned by hedge funds and other institutional investors.

Covenant Logistics Group Stock Up 0.9%

NASDAQ CVLG opened at $24.28 on Friday. 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 52 week low of $17.46 and a 52 week high of $30.77. The stock’s 50-day moving average price is $23.58 and its 200-day moving average price is $24.02. The company has a market capitalization of $644.53 million, a P/E ratio of 18.75 and a beta of 1.44.

Covenant Logistics Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 6th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend was Friday, June 6th. Covenant Logistics Group’s payout ratio is 20.14%.

Analysts Set New Price Targets

Separately, TD Cowen decreased their price target on Covenant Logistics Group from $31.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, April 25th.

Insiders Place Their Bets

In other news, Director D Michael Kramer sold 2,200 shares of Covenant Logistics Group stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $22.80, for a total value of $50,160.00. Following the transaction, the director directly owned 24,736 shares in the company, valued at approximately $563,980.80. This trade represents a 8.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 35.10% of the stock is currently owned by company insiders.

About Covenant Logistics Group

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.