Inspire Investing LLC Increases Stock Holdings in Covenant Logistics Group, Inc. $CVLG

Inspire Investing LLC increased its holdings in shares of Covenant Logistics Group, Inc. (NYSE:CVLG) by 3.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,083 shares of the company’s stock after buying an additional 541 shares during the period. Inspire Investing LLC owned about 0.06% of Covenant Logistics Group worth $388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Rhumbline Advisers lifted its position in shares of 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. Brandywine Global Investment Management LLC lifted its position in shares of Covenant Logistics Group by 93.4% during the 1st quarter. Brandywine Global Investment Management LLC now owns 55,838 shares of the company’s stock valued at $1,240,000 after buying an additional 26,962 shares in the last quarter. GAMMA Investing LLC lifted 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 buying an additional 1,586 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Covenant Logistics Group by 90.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 168,936 shares of the company’s stock valued at $3,750,000 after buying an additional 80,151 shares in the last quarter. Finally, Strs Ohio purchased a new position in shares of Covenant Logistics Group during the 1st quarter valued at approximately $500,000. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CVLG shares. Wall Street Zen lowered Covenant Logistics Group from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Zacks Research lowered Covenant Logistics Group from a “hold” rating to a “strong sell” rating in a report on Friday, October 10th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Covenant Logistics Group in a report on Tuesday. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Covenant Logistics Group currently has a consensus rating of “Hold” and a consensus price target of $33.00.

Covenant Logistics Group Stock Down 0.8%

Shares of CVLG opened at $20.86 on Thursday. Covenant Logistics Group, Inc. has a 52-week low of $17.46 and a 52-week high of $30.77. The company has a market capitalization of $521.92 million, a PE ratio of 15.92 and a beta of 1.39. The stock has a fifty day simple moving average of $22.90 and a two-hundred day simple moving average of $22.64. The company has a quick ratio of 1.06, a current ratio of 1.09 and a debt-to-equity ratio of 0.52.

Covenant Logistics Group (NYSE:CVLG) last issued its earnings results on Wednesday, July 23rd. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. Covenant Logistics Group had a return on equity of 11.63% and a net margin of 3.18%.The business had revenue of $302.85 million during the quarter, compared to the consensus estimate of $285.33 million.

Covenant Logistics Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 5th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.3%. Covenant Logistics Group’s dividend payout ratio (DPR) is presently 21.37%.

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.