Covenant Logistics Group, Inc. (NASDAQ:CVLG) Short Interest Update

Covenant Logistics Group, Inc. (NASDAQ:CVLG) was the target of a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 119,500 shares, a decrease of 51.5% from the December 15th total of 246,600 shares. Approximately 1.1% of the shares of the company are sold short. Based on an average daily trading volume, of 201,100 shares, the short-interest ratio is presently 0.6 days.

A number of equities research analysts have recently commented on CVLG shares. Zacks Investment Research cut shares of Covenant Logistics Group from a “buy” rating to a “hold” rating in a report on Monday, January 3rd. Wolfe Research cut shares of Covenant Logistics Group from a “peer perform” rating to an “underperform” rating and set a $23.00 price target for the company. in a report on Thursday, January 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $29.33.

A number of institutional investors and hedge funds have recently modified their holdings of CVLG. BlackRock Inc. grew its position in Covenant Logistics Group by 3.1% during the second quarter. BlackRock Inc. now owns 1,459,869 shares of the company’s stock worth $30,190,000 after buying an additional 44,162 shares during the period. Truvestments Capital LLC acquired a new stake in Covenant Logistics Group during the second quarter worth approximately $29,000. Lazard Asset Management LLC acquired a new stake in Covenant Logistics Group during the second quarter worth approximately $100,000. FMR LLC boosted its position in Covenant Logistics Group by 6.1% during the second quarter. FMR LLC now owns 71,274 shares of the company’s stock worth $1,474,000 after acquiring an additional 4,100 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Covenant Logistics Group by 4.0% during the second quarter. Vanguard Group Inc. now owns 610,590 shares of the company’s stock worth $12,627,000 after acquiring an additional 23,435 shares during the last quarter. Institutional investors own 51.27% of the company’s stock.

Shares of CVLG opened at $23.16 on Friday. The company has a current ratio of 1.15, a quick ratio of 1.13 and a debt-to-equity ratio of 0.08. The firm’s 50-day moving average is $25.61 and its two-hundred day moving average is $24.72. Covenant Logistics Group has a twelve month low of $14.09 and a twelve month high of $34.75. The firm has a market capitalization of $387.24 million, a P/E ratio of 22.49 and a beta of 1.53.

Covenant Logistics Group (NASDAQ:CVLG) last issued its earnings results on Tuesday, October 19th. The company reported $1.02 earnings per share for the quarter, hitting the consensus estimate of $1.02. Covenant Logistics Group had a net margin of 1.77% and a return on equity of 17.41%. The company had revenue of $274.56 million for the quarter, compared to analyst estimates of $258.60 million. During the same period in the prior year, the business posted $0.56 earnings per share. Analysts predict that Covenant Logistics Group will post 3.56 EPS for the current year.

Covenant Logistics Group Company Profile

Covenant Logistics Group, Inc is a holding company, which engages in the provision of freight and logistics services. It operates through the following segments: Highway Services and Dedicated Contract Services. The Highway Services Segment includes two separate service offerings: Expedited Services (“”Expedited””) and Over-the-Road Services (“”OTR””), both of which transport one-way freight over non-routine routes.

Read More: What is the S&P 500 Index?

Receive News & Ratings for Covenant Logistics Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Covenant Logistics Group and related companies with MarketBeat.com's FREE daily email newsletter.