Prescott Group Capital Management L.L.C. Acquires New Position in Covenant Logistics Group, Inc. $CVLG

Prescott Group Capital Management L.L.C. purchased a new position in shares of Covenant Logistics Group, Inc. (NYSE:CVLG) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 16,000 shares of the company’s stock, valued at approximately $353,000. Prescott Group Capital Management L.L.C. owned 0.06% of Covenant Logistics Group as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the stock. SG Americas Securities LLC raised its stake in Covenant Logistics Group by 4.2% during the fourth quarter. SG Americas Securities LLC now owns 11,926 shares of the company’s stock worth $263,000 after purchasing an additional 478 shares during the period. BNP Paribas Financial Markets raised its stake in Covenant Logistics Group by 45.3% during the second quarter. BNP Paribas Financial Markets now owns 1,562 shares of the company’s stock worth $38,000 after purchasing an additional 487 shares during the period. Two Sigma Investments LP raised its stake in Covenant Logistics Group by 2.7% during the third quarter. Two Sigma Investments LP now owns 40,982 shares of the company’s stock worth $888,000 after purchasing an additional 1,068 shares during the period. Tower Research Capital LLC TRC raised its stake in Covenant Logistics Group by 127.1% during the second quarter. Tower Research Capital LLC TRC now owns 1,971 shares of the company’s stock worth $48,000 after purchasing an additional 1,103 shares during the period. Finally, Ranger Investment Management L.P. raised its stake in Covenant Logistics Group by 0.7% during the third quarter. Ranger Investment Management L.P. now owns 185,895 shares of the company’s stock worth $4,026,000 after purchasing an additional 1,320 shares during the period. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Zacks Research raised shares of Covenant Logistics Group from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. Wall Street Zen downgraded shares of Covenant Logistics Group from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. Finally, TD Cowen increased their price target on shares of Covenant Logistics Group from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $35.00.

Insider Transactions at Covenant Logistics Group

In other news, Director D Michael Kramer sold 2,650 shares of the stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $34.72, for a total value of $92,008.00. Following the completion of the sale, the director owned 22,086 shares of the company’s stock, valued at $766,825.92. This represents a 10.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David Ray Parker sold 30,400 shares of the stock in a transaction on Friday, February 20th. The stock was sold at an average price of $29.18, for a total transaction of $887,072.00. Following the completion of the sale, the chief executive officer directly owned 2,047,544 shares of the company’s stock, valued at $59,747,333.92. The trade was a 1.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 47,750 shares of company stock valued at $1,490,052 over the last 90 days. Corporate insiders own 36.70% of the company’s stock.

Covenant Logistics Group Price Performance

Covenant Logistics Group stock opened at $36.78 on Thursday. Covenant Logistics Group, Inc. has a 52-week low of $18.00 and a 52-week high of $36.91. The firm has a fifty day moving average of $29.77 and a 200-day moving average of $26.14. The firm has a market capitalization of $925.75 million, a P/E ratio of 245.20 and a beta of 1.28. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.50.

Covenant Logistics Group (NYSE:CVLG) last released its quarterly earnings data on Thursday, April 23rd. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.09). Covenant Logistics Group had a return on equity of 9.41% and a net margin of 0.42%.The business had revenue of $307.16 million during the quarter. As a group, analysts predict that Covenant Logistics Group, Inc. will post 1.6 EPS for the current year.

Covenant Logistics Group Profile

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.