Charles Schwab Investment Management Inc. Has $4.84 Million Stock Position in Covenant Logistics Group, Inc. (NASDAQ:CVLG)

Charles Schwab Investment Management Inc. trimmed its holdings in Covenant Logistics Group, Inc. (NASDAQ:CVLG) by 19.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 88,785 shares of the company’s stock after selling 20,854 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Covenant Logistics Group were worth $4,840,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Quantbot Technologies LP bought a new stake in Covenant Logistics Group during the third quarter worth approximately $64,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Covenant Logistics Group by 110.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,872 shares of the company’s stock worth $205,000 after purchasing an additional 2,031 shares during the last quarter. Private Advisor Group LLC grew its position in Covenant Logistics Group by 11.8% during the fourth quarter. Private Advisor Group LLC now owns 4,567 shares of the company’s stock worth $249,000 after buying an additional 481 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Covenant Logistics Group by 34.0% during the 4th quarter. SG Americas Securities LLC now owns 4,715 shares of the company’s stock worth $257,000 after purchasing an additional 1,196 shares in the last quarter. Finally, Townsquare Capital LLC boosted its stake in Covenant Logistics Group by 7.8% during the third quarter. Townsquare Capital LLC now owns 4,921 shares of the company’s stock worth $260,000 after buying an additional 357 shares in the last quarter. 83.72% of the stock is currently owned by institutional investors.

Covenant Logistics Group Trading Down 1.8 %

Shares of CVLG stock opened at $22.69 on Wednesday. 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 $602.42 million, a P/E ratio of 17.52 and a beta of 1.45. Covenant Logistics Group, Inc. has a 12-month low of $21.52 and a 12-month high of $30.77. The firm has a 50-day moving average price of $25.87 and a 200 day moving average price of $26.96.

Covenant Logistics Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Covenant Logistics Group’s previous quarterly dividend of $0.06. Covenant Logistics Group’s dividend payout ratio is presently 21.71%.

Analyst Ratings Changes

Separately, Stephens reiterated an “overweight” rating and issued a $36.00 price objective on shares of Covenant Logistics Group in a research note on Friday, January 24th.

Insider Activity at Covenant Logistics Group

In other news, CAO Matisse Long sold 2,114 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $28.95, for a total value of $61,200.30. Following the transaction, the chief accounting officer now directly owns 15,434 shares in the company, valued at $446,814.30. This trade represents a 12.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 36.50% of the stock is currently owned by company insiders.

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.