Covenant Logistics Group, Inc. (NASDAQ:CVLG) Announces Dividend Increase – $0.07 Per Share

Covenant Logistics Group, Inc. (NASDAQ:CVLG) declared a quarterly dividend on Friday, February 14th, RTT News reports. Investors of record on Friday, March 7th will be paid a dividend of 0.07 per share on Friday, March 28th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Covenant Logistics Group’s previous quarterly dividend of $0.06.

Covenant Logistics Group Trading Down 1.8 %

Covenant Logistics Group stock opened at $24.64 on Wednesday. Covenant Logistics Group has a 52 week low of $21.51 and a 52 week high of $30.77. The firm has a market capitalization of $649.49 million, a PE ratio of 19.07 and a beta of 1.40. The business’s 50-day simple moving average is $27.56 and its 200-day simple moving average is $27.26. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.07 and a current ratio of 1.10.

Insider Activity

In other Covenant Logistics Group news, CAO Matisse Long sold 2,114 shares of the business’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $28.95, for a total value of $61,200.30. Following the completion of the transaction, the chief accounting officer now directly owns 15,434 shares of the company’s stock, valued at approximately $446,814.30. The trade was a 12.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 36.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, Stephens reaffirmed an “overweight” rating and set a $36.00 target price on shares of Covenant Logistics Group in a research report on Friday, January 24th.

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.