David Ray Parker Sells 3,814 Shares of Covenant Transportation Group, Inc. (NASDAQ:CVTI) Stock

Covenant Transportation Group, Inc. (NASDAQ:CVTI) CEO David Ray Parker sold 3,814 shares of Covenant Transportation Group stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $30.00, for a total transaction of $114,420.00. Following the sale, the chief executive officer now owns 110,580 shares in the company, valued at $3,317,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

David Ray Parker also recently made the following trade(s):

  • On Thursday, November 30th, David Ray Parker sold 29,255 shares of Covenant Transportation Group stock. The shares were sold at an average price of $30.01, for a total transaction of $877,942.55.
  • On Monday, December 4th, David Ray Parker sold 30,455 shares of Covenant Transportation Group stock. The stock was sold at an average price of $30.01, for a total transaction of $913,954.55.
  • On Friday, November 24th, David Ray Parker sold 10,783 shares of Covenant Transportation Group stock. The stock was sold at an average price of $30.02, for a total value of $323,705.66.
  • On Wednesday, November 1st, David Ray Parker sold 54,219 shares of Covenant Transportation Group stock. The shares were sold at an average price of $30.04, for a total value of $1,628,738.76.
  • On Friday, November 3rd, David Ray Parker sold 60,919 shares of Covenant Transportation Group stock. The stock was sold at an average price of $30.04, for a total value of $1,830,006.76.
  • On Wednesday, October 25th, David Ray Parker sold 57,381 shares of Covenant Transportation Group stock. The stock was sold at an average price of $28.68, for a total value of $1,645,687.08.
  • On Friday, October 27th, David Ray Parker sold 250,000 shares of Covenant Transportation Group stock. The stock was sold at an average price of $28.77, for a total value of $7,192,500.00.

Covenant Transportation Group, Inc. (CVTI) traded up $0.06 on Wednesday, hitting $29.86. The stock had a trading volume of 171,259 shares, compared to its average volume of 113,620. Covenant Transportation Group, Inc. has a 52 week low of $15.86 and a 52 week high of $30.60. The firm has a market capitalization of $540.29, a PE ratio of 42.81 and a beta of 1.67. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.62 and a current ratio of 1.66.

Covenant Transportation Group (NASDAQ:CVTI) last released its quarterly earnings results on Thursday, October 19th. The transportation company reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.08. The business had revenue of $178.60 million during the quarter, compared to analysts’ expectations of $170.10 million. Covenant Transportation Group had a return on equity of 5.30% and a net margin of 1.82%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the firm posted $0.16 EPS. analysts forecast that Covenant Transportation Group, Inc. will post 0.9 earnings per share for the current year.

CVTI has been the topic of a number of research reports. Zacks Investment Research upgraded Covenant Transportation Group from a “sell” rating to a “hold” rating in a research report on Tuesday, September 5th. TheStreet upgraded Covenant Transportation Group from a “c+” rating to a “b” rating in a report on Thursday, October 19th. Cowen restated a “buy” rating and set a $24.00 target price on shares of Covenant Transportation Group in a report on Monday, August 28th. BidaskClub raised Covenant Transportation Group from a “sell” rating to a “hold” rating in a research note on Monday, August 14th. Finally, Stephens raised Covenant Transportation Group from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $20.00 to $25.00 in a research note on Monday, August 14th. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $25.63.

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Covenant Transportation Group by 12.7% during the 1st quarter. Vanguard Group Inc. now owns 525,843 shares of the transportation company’s stock worth $9,887,000 after buying an additional 59,199 shares during the period. Bank of America Corp DE raised its stake in Covenant Transportation Group by 56.3% during the 1st quarter. Bank of America Corp DE now owns 40,854 shares of the transportation company’s stock worth $767,000 after buying an additional 14,724 shares during the period. Essex Investment Management Co. LLC acquired a new position in Covenant Transportation Group during the 3rd quarter worth approximately $2,367,000. Nationwide Fund Advisors increased its holdings in Covenant Transportation Group by 156.4% during the 2nd quarter. Nationwide Fund Advisors now owns 26,066 shares of the transportation company’s stock worth $457,000 after purchasing an additional 15,900 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Covenant Transportation Group by 4.2% during the 1st quarter. Geode Capital Management LLC now owns 100,207 shares of the transportation company’s stock worth $1,883,000 after purchasing an additional 4,068 shares in the last quarter. 63.29% of the stock is currently owned by institutional investors.

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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.

Insider Buying and Selling by Quarter for Covenant Transportation Group (NASDAQ:CVTI)

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