Delphi Management Inc. MA Purchases 5,500 Shares of Covenant Logistics Group, Inc. (NASDAQ:CVLG)

Delphi Management Inc. MA boosted its position in shares of Covenant Logistics Group, Inc. (NASDAQ:CVLG) by 387.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,920 shares of the company’s stock after purchasing an additional 5,500 shares during the period. Delphi Management Inc. MA’s holdings in Covenant Logistics Group were worth $377,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CVLG. Huntington National Bank bought a new position in Covenant Logistics Group during the 3rd quarter valued at about $27,000. Quantbot Technologies LP bought a new position in Covenant Logistics Group during the 3rd quarter valued at about $64,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Covenant Logistics Group by 110.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,872 shares of the company’s stock valued at $205,000 after purchasing an additional 2,031 shares during the last quarter. GSA Capital Partners LLP bought a new position in Covenant Logistics Group during the 3rd quarter valued at about $215,000. Finally, Private Advisor Group LLC lifted its holdings in Covenant Logistics Group by 11.8% during the 4th quarter. Private Advisor Group LLC now owns 4,567 shares of the company’s stock valued at $249,000 after purchasing an additional 481 shares during the last quarter. 83.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Covenant Logistics Group Trading Up 1.0 %

Shares of NASDAQ CVLG opened at $23.16 on Tuesday. Covenant Logistics Group, Inc. has a twelve month low of $21.52 and a twelve month high of $30.77. The stock has a market cap of $614.90 million, a price-to-earnings ratio of 17.88 and a beta of 1.45. 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’s fifty day moving average is $26.36 and its 200-day moving average is $27.10.

Covenant Logistics Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.21%. The ex-dividend date 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 21.71%.

Insider Activity

In related news, CAO Matisse Long sold 2,114 shares of the stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $28.95, for a total transaction of $61,200.30. Following the completion of the transaction, the chief accounting officer now owns 15,434 shares in the company, valued at approximately $446,814.30. This represents a 12.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate 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.