Covenant Logistics Group (NYSE:CVLG) Announces Earnings Results, Misses Estimates By $0.09 EPS

Covenant Logistics Group (NYSE:CVLG) posted its quarterly earnings results on Thursday. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.09), Zacks reports. Covenant Logistics Group had a return on equity of 9.70% and a net margin of 0.62%.The business had revenue of $307.16 million for the quarter.

Covenant Logistics Group Trading Up 0.5%

CVLG opened at $31.15 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.11 and a quick ratio of 1.08. Covenant Logistics Group has a fifty-two week low of $18.00 and a fifty-two week high of $31.81. The firm has a market capitalization of $781.24 million, a PE ratio of 141.60 and a beta of 1.15. The company’s 50-day moving average is $28.02 and its 200 day moving average is $24.53.

Analyst Upgrades and Downgrades

Several brokerages have commented on CVLG. Wall Street Zen downgraded shares of Covenant Logistics Group from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. Weiss Ratings restated a “hold (c)” rating on shares of Covenant Logistics Group in a report on Friday, January 9th. Finally, Zacks Research raised shares of Covenant Logistics Group from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $30.00.

Insider Buying and Selling at Covenant Logistics Group

In related news, CEO David Ray Parker sold 30,400 shares of the company’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $29.18, for a total value of $887,072.00. Following the sale, the chief executive officer owned 2,047,544 shares in the company, valued at $59,747,333.92. This represents a 1.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last quarter, insiders have sold 438,800 shares of company stock valued at $12,826,748. Corporate insiders own 36.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Man Group plc grew its position in shares of Covenant Logistics Group by 3.5% during the 4th quarter. Man Group plc now owns 10,780 shares of the company’s stock valued at $238,000 after acquiring an additional 365 shares during the period. Mangrove Partners IM LLC bought a new position in Covenant Logistics Group in the 4th quarter worth approximately $225,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in 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 period. Creative Planning boosted its holdings in Covenant Logistics Group by 17.5% in the 3rd quarter. Creative Planning now owns 9,766 shares of the company’s stock worth $212,000 after buying an additional 1,458 shares during the period. Finally, Balyasny Asset Management L.P. bought a new position in Covenant Logistics Group in the 4th quarter worth approximately $206,000. 83.72% of the stock is owned by institutional investors.

About Covenant Logistics Group

Covenant Logistics Group provides a comprehensive suite of transportation and logistics services across North America. The company’s core offerings include less‐than‐truckload (LTL) and full truckload hauling, temperature‐controlled freight, intermodal transportation and freight brokerage. Covenant also delivers specialized solutions such as expedited “hot‐shot” deliveries, cross‐border shipping to Canada and Mexico, and dedicated contract carriage for time‐sensitive or high‐value shipments.

With a network of service centers, terminals and partner carriers strategically located throughout the United States, Covenant supports diverse industries including food and beverage, automotive, retail, energy and manufacturing.