Delphi Management Inc. MA Has $377,000 Holdings in Covenant Logistics Group, Inc. (NASDAQ:CVLG)

Delphi Management Inc. MA boosted its position in Covenant Logistics Group, Inc. (NASDAQ:CVLG) by 387.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,920 shares of the company’s stock after buying an additional 5,500 shares during the quarter. Delphi Management Inc. MA’s holdings in Covenant Logistics Group were worth $377,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Royce & Associates LP grew its stake in Covenant Logistics Group by 43.8% in the 4th 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 during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Covenant Logistics Group by 82.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 16,485 shares of the company’s stock worth $899,000 after purchasing an additional 7,464 shares during the last quarter. Pacific Global Investment Management Co. grew its position in Covenant Logistics Group by 8.2% in the 4th quarter. Pacific Global Investment Management Co. now owns 36,562 shares of the company’s stock worth $1,993,000 after purchasing an additional 2,775 shares during the last quarter. Private Advisor Group LLC grew its position in Covenant Logistics Group by 11.8% in the 4th quarter. Private Advisor Group LLC now owns 4,567 shares of the company’s stock worth $249,000 after purchasing an additional 481 shares during the last quarter. Finally, Shaker Investments LLC OH grew its position in Covenant Logistics Group by 48.4% in the 4th quarter. Shaker Investments LLC OH now owns 15,187 shares of the company’s stock worth $828,000 after purchasing an additional 4,955 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Transactions at Covenant Logistics Group

In other news, CAO Matisse Long sold 2,114 shares of the firm’s stock in a transaction dated 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 directly owns 15,434 shares of the company’s stock, valued at approximately $446,814.30. This trade represents a 12.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 36.50% of the stock is owned by insiders.

Covenant Logistics Group Stock Performance

NASDAQ CVLG opened at $23.16 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 1.07. The firm has a market capitalization of $614.90 million, a price-to-earnings ratio of 17.88 and a beta of 1.45. The company’s fifty day moving average is $26.36 and its two-hundred day moving average is $27.10. Covenant Logistics Group, Inc. has a 52-week low of $21.52 and a 52-week high of $30.77.

Covenant Logistics Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.21%. This is an increase from Covenant Logistics Group’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Friday, March 7th. Covenant Logistics Group’s dividend payout ratio (DPR) is presently 21.71%.

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.