GSA Capital Partners LLP Makes New Investment in Covenant Logistics Group, Inc. (NASDAQ:CVLG)

GSA Capital Partners LLP purchased a new stake in shares of Covenant Logistics Group, Inc. (NASDAQ:CVLG) in the third quarter, HoldingsChannel.com reports. The institutional investor purchased 4,071 shares of the company’s stock, valued at approximately $215,000.

Other large investors also recently bought and sold shares of the company. EMC Capital Management boosted its stake in Covenant Logistics Group by 374.9% during the third quarter. EMC Capital Management now owns 15,312 shares of the company’s stock worth $809,000 after buying an additional 12,088 shares during the period. Stephens Inc. AR acquired a new stake in Covenant Logistics Group in the third quarter valued at approximately $468,000. nVerses Capital LLC boosted its holdings in Covenant Logistics Group by 550.0% in the third quarter. nVerses Capital LLC now owns 1,300 shares of the company’s stock worth $69,000 after acquiring an additional 1,100 shares in the last quarter. Oliver Luxxe Assets LLC lifted its position in Covenant Logistics Group by 109.7% during the 3rd quarter. Oliver Luxxe Assets LLC now owns 34,734 shares of the company’s stock worth $1,835,000 after acquiring an additional 18,168 shares during the period. Finally, Shaker Investments LLC OH purchased a new stake in shares of Covenant Logistics Group in the 3rd quarter valued at $541,000. Institutional investors own 83.72% of the company’s stock.

Covenant Logistics Group Stock Performance

Shares of CVLG stock opened at $57.77 on Monday. Covenant Logistics Group, Inc. has a one year low of $41.38 and a one year high of $61.54. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.07 and a current ratio of 1.10. The firm’s 50 day moving average price is $53.74 and its 200-day moving average price is $51.26. The firm has a market cap of $761.41 million, a P/E ratio of 19.00 and a beta of 1.35.

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

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

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

Covenant Logistics Group 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.