O Shaughnessy Asset Management LLC Lowers Position in Covenant Logistics Group, Inc. (NASDAQ:CVLG)

O Shaughnessy Asset Management LLC reduced its stake in Covenant Logistics Group, Inc. (NASDAQ:CVLG) by 4.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,054 shares of the company’s stock after selling 1,374 shares during the period. O Shaughnessy Asset Management LLC owned approximately 0.11% of Covenant Logistics Group worth $1,584,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Empowered Funds LLC raised its stake in shares of Covenant Logistics Group by 110.2% in the 4th quarter. Empowered Funds LLC now owns 188,916 shares of the company’s stock valued at $10,298,000 after acquiring an additional 99,026 shares during the period. Franklin Resources Inc. raised its position in Covenant Logistics Group by 1,226.7% in the third quarter. Franklin Resources Inc. now owns 70,063 shares of the company’s stock valued at $3,711,000 after purchasing an additional 64,782 shares during the period. FMR LLC lifted its stake in Covenant Logistics Group by 3,423.0% during the third quarter. FMR LLC now owns 46,151 shares of the company’s stock worth $2,439,000 after purchasing an additional 44,841 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Covenant Logistics Group by 21.7% during the fourth quarter. American Century Companies Inc. now owns 210,350 shares of the company’s stock worth $11,466,000 after buying an additional 37,501 shares during the period. Finally, Royce & Associates LP grew its stake in shares of Covenant Logistics Group by 43.8% in the fourth quarter. Royce & Associates LP now owns 121,544 shares of the company’s stock valued at $6,625,000 after buying an additional 37,008 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Covenant Logistics Group Price Performance

Covenant Logistics Group stock opened at $19.75 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. Covenant Logistics Group, Inc. has a 52-week low of $18.80 and a 52-week high of $30.77. The firm has a market cap of $524.36 million, a PE ratio of 15.25 and a beta of 1.36. The company’s 50 day moving average is $24.90 and its two-hundred day moving average is $26.73.

Covenant Logistics Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were paid a $0.07 dividend. This is a boost from Covenant Logistics Group’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend was Friday, March 7th. Covenant Logistics Group’s dividend payout ratio (DPR) is presently 21.71%.

Insider Activity at Covenant Logistics Group

In other Covenant Logistics Group news, CAO Matisse Long sold 2,114 shares of the stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $28.95, for a total value of $61,200.30. Following the sale, the chief accounting officer now owns 15,434 shares of the company’s stock, 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.

Analyst Upgrades and Downgrades

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

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.