Covenant Logistics Group, Inc. (CVLG) to Distribute Quarterly Dividend of $0.07 on June 27th

Covenant Logistics Group, Inc. (NASDAQ:CVLG) announced a quarterly dividend on Friday, May 16th, RTT News reports. Investors of record on Friday, June 6th will be given a dividend of 0.07 per share on Friday, June 27th. This represents a $0.28 annualized dividend and a yield of 1.20%.

Covenant Logistics Group Trading Down 0.1%

NASDAQ CVLG opened at $23.35 on Friday. The stock’s 50-day simple moving average is $21.02 and its two-hundred day simple moving average is $25.40. Covenant Logistics Group has a twelve month low of $17.46 and a twelve month high of $30.77. The company has a quick ratio of 1.07, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $620.02 million, a price-to-earnings ratio of 18.03 and a beta of 1.53.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Stephens reissued an “overweight” rating and issued a $36.00 target price on shares of Covenant Logistics Group in a research note on Friday, January 24th. TD Cowen lowered their price target on Covenant Logistics Group from $31.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, April 25th.

Institutional Trading of Covenant Logistics Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its stake in shares of Covenant Logistics Group by 161.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 179,304 shares of the company’s stock worth $3,981,000 after buying an additional 110,810 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Covenant Logistics Group by 108.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,586 shares of the company’s stock worth $213,000 after buying an additional 4,985 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Covenant Logistics Group by 97.5% in the 1st quarter. AQR Capital Management LLC now owns 88,761 shares of the company’s stock worth $1,970,000 after buying an additional 43,816 shares during the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of Covenant Logistics Group by 90.5% in the 1st quarter. Royal Bank of Canada now owns 24,108 shares of the company’s stock worth $535,000 after buying an additional 11,454 shares during the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Covenant Logistics Group Company 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.