Covenant Transportation Group, Inc. (CVTI) President Sells $125,150.00 in Stock

Covenant Transportation Group, Inc. (NASDAQ:CVTI) President Joey B. Hogan sold 5,000 shares of the firm’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $25.03, for a total value of $125,150.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Covenant Transportation Group, Inc. (CVTI) traded down 0.36% on Friday, hitting $24.76. The stock had a trading volume of 125,212 shares. The stock’s 50 day moving average is $21.94 and its 200 day moving average is $19.02. Covenant Transportation Group, Inc. has a one year low of $14.26 and a one year high of $26.49. The stock has a market cap of $452.79 million, a price-to-earnings ratio of 44.29 and a beta of 1.61.

Covenant Transportation Group (NASDAQ:CVTI) last released its quarterly earnings data on Tuesday, July 25th. The transportation company reported $0.08 EPS for the quarter, hitting analysts’ consensus estimates of $0.08. The company had revenue of $164.30 million for the quarter, compared to the consensus estimate of $158.40 million. Covenant Transportation Group had a return on equity of 4.65% and a net margin of 1.60%. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period last year, the business posted $0.20 EPS. Analysts anticipate that Covenant Transportation Group, Inc. will post $0.71 earnings per share for the current year.

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Several hedge funds have recently bought and sold shares of the company. Livingston Group Asset Management CO operating as Southport Capital Management grew its stake in shares of Covenant Transportation Group by 0.3% in the second quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 97,029 shares of the transportation company’s stock valued at $1,701,000 after buying an additional 303 shares in the last quarter. TIAA CREF Investment Management LLC grew its stake in shares of Covenant Transportation Group by 1.0% in the second quarter. TIAA CREF Investment Management LLC now owns 32,530 shares of the transportation company’s stock valued at $570,000 after buying an additional 312 shares in the last quarter. American International Group Inc. grew its stake in shares of Covenant Transportation Group by 7.2% in the first quarter. American International Group Inc. now owns 7,309 shares of the transportation company’s stock valued at $137,000 after buying an additional 489 shares in the last quarter. Pier Capital LLC grew its stake in shares of Covenant Transportation Group by 0.3% in the first quarter. Pier Capital LLC now owns 163,016 shares of the transportation company’s stock valued at $3,065,000 after buying an additional 566 shares in the last quarter. Finally, Horrell Capital Management Inc. grew its stake in shares of Covenant Transportation Group by 2.5% in the second quarter. Horrell Capital Management Inc. now owns 27,941 shares of the transportation company’s stock valued at $490,000 after buying an additional 681 shares in the last quarter. Institutional investors and hedge funds own 62.13% of the company’s stock.

A number of research analysts have weighed in on the company. Zacks Investment Research upgraded Covenant Transportation Group from a “sell” rating to a “hold” rating in a report on Friday. Cowen and Company reiterated a “buy” rating and set a $24.00 price target on shares of Covenant Transportation Group in a report on Monday, August 28th. BidaskClub upgraded Covenant Transportation Group from a “sell” rating to a “hold” rating in a report on Monday, August 14th. ValuEngine upgraded Covenant Transportation Group from a “sell” rating to a “hold” rating in a report on Monday, August 14th. Finally, Stephens upgraded Covenant Transportation Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $20.00 to $25.00 in a report on Monday, August 14th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $23.00.

Covenant Transportation Group Company Profile

Covenant Transportation Group, Inc is a provider of expedited long haul freight transportation, primarily using two-person driver teams in transcontinental lanes. The Company’s services also include refrigerated, dedicated, cross-border, regional and brokerage. The Company’s segments include Truckload and Other.

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