DGS Capital Management LLC Sells 1,216 Shares of Covenant Logistics Group, Inc. (NASDAQ:CVLG)

DGS Capital Management LLC decreased its holdings in shares of Covenant Logistics Group, Inc. (NASDAQ:CVLG) by 13.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,699 shares of the company’s stock after selling 1,216 shares during the quarter. DGS Capital Management LLC owned approximately 0.06% of Covenant Logistics Group worth $407,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Victory Capital Management Inc. increased its stake in shares of Covenant Logistics Group by 74.9% during the 3rd quarter. Victory Capital Management Inc. now owns 35,314 shares of the company’s stock worth $1,866,000 after purchasing an additional 15,128 shares during the last quarter. Foundry Partners LLC grew its stake in Covenant Logistics Group by 125.9% in the 2nd quarter. Foundry Partners LLC now owns 184,844 shares of the company’s stock valued at $9,111,000 after buying an additional 103,014 shares during the last quarter. EMC Capital Management raised its holdings in Covenant Logistics Group by 374.9% in the 3rd quarter. EMC Capital Management now owns 15,312 shares of the company’s stock valued at $809,000 after acquiring an additional 12,088 shares during the period. Koss Olinger Consulting LLC acquired a new stake in Covenant Logistics Group during the second quarter worth approximately $498,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Covenant Logistics Group during the third quarter worth approximately $477,000. Institutional investors own 83.72% of the company’s stock.

Covenant Logistics Group Trading Down 0.7 %

NASDAQ:CVLG opened at $58.34 on Friday. The company has a market cap of $768.92 million, a PE ratio of 19.19 and a beta of 1.39. The firm has a 50-day moving average of $55.43 and a 200-day moving average of $52.37. Covenant Logistics Group, Inc. has a one year low of $43.00 and a one year high of $61.54. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 1.07.

Covenant Logistics Group (NASDAQ:CVLG) last posted its earnings results on Wednesday, October 23rd. The company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. Covenant Logistics Group had a return on equity of 13.43% and a net margin of 3.72%. The business had revenue of $287.89 million during the quarter. During the same period in the previous year, the firm earned $1.13 EPS. As a group, equities research analysts expect that Covenant Logistics Group, Inc. will post 4 EPS for the current fiscal year.

Covenant Logistics Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend is Friday, December 6th. Covenant Logistics Group’s payout ratio is currently 14.47%.

Wall Street Analyst Weigh In

Separately, TD Cowen reduced their target price on Covenant Logistics Group from $70.00 to $69.00 and set a “buy” rating on the stock in a report on Friday, October 25th.

Insider Activity at Covenant Logistics Group

In related news, Director Bradley A. Moline sold 7,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $59.64, for a total value of $417,480.00. Following the sale, the director now owns 46,992 shares in the company, valued at approximately $2,802,602.88. The trade was a 12.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 36.50% of the stock is 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.