Insider Selling: Covenant Transportation Group, Inc. (NASDAQ:CVTI) VP Sells 2,000 Shares of Stock

Covenant Transportation Group, Inc. (NASDAQ:CVTI) VP Ralph H. Lovin, Jr. sold 2,000 shares of Covenant Transportation Group stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $31.96, for a total transaction of $63,920.00. Following the completion of the transaction, the vice president now directly owns 37,532 shares of the company’s stock, valued at approximately $1,199,522.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Shares of CVTI stock traded up $0.01 on Thursday, reaching $29.66. 101,600 shares of the company were exchanged, compared to its average volume of 192,464. Covenant Transportation Group, Inc. has a 1 year low of $15.86 and a 1 year high of $33.36. The stock has a market capitalization of $545.68, a P/E ratio of 35.57 and a beta of 1.53. The company has a quick ratio of 1.95, a current ratio of 2.00 and a debt-to-equity ratio of 0.63.

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Covenant Transportation Group (NASDAQ:CVTI) last announced its quarterly earnings data on Monday, January 29th. The transportation company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.01). Covenant Transportation Group had a net margin of 7.94% and a return on equity of 6.26%. The business had revenue of $203.31 million for the quarter, compared to analysts’ expectations of $202.40 million. During the same period in the prior year, the company posted $0.33 EPS. The firm’s revenue was up 6.5% on a year-over-year basis. analysts expect that Covenant Transportation Group, Inc. will post 1.77 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. MetLife Investment Advisors LLC purchased a new stake in Covenant Transportation Group during the 4th quarter valued at about $166,000. Macquarie Group Ltd. grew its stake in Covenant Transportation Group by 846.5% during the 4th quarter. Macquarie Group Ltd. now owns 37,010 shares of the transportation company’s stock valued at $1,063,000 after acquiring an additional 33,100 shares in the last quarter. Millennium Management LLC purchased a new stake in Covenant Transportation Group during the 4th quarter valued at about $9,225,000. Cornerstone Capital Management Holdings LLC. purchased a new stake in Covenant Transportation Group during the 4th quarter valued at about $1,318,000. Finally, TIAA CREF Investment Management LLC grew its stake in Covenant Transportation Group by 51.7% during the 4th quarter. TIAA CREF Investment Management LLC now owns 49,357 shares of the transportation company’s stock valued at $1,418,000 after acquiring an additional 16,827 shares in the last quarter. 63.12% of the stock is owned by institutional investors.

A number of analysts have recently commented on the stock. BidaskClub cut shares of Covenant Transportation Group from a “buy” rating to a “hold” rating in a research note on Friday, January 5th. Seaport Global Securities raised shares of Covenant Transportation Group from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Thursday, March 15th. Stifel Nicolaus assumed coverage on shares of Covenant Transportation Group in a research note on Friday, April 6th. They set a “hold” rating and a $34.00 target price for the company. Zacks Investment Research cut shares of Covenant Transportation Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 26th. Finally, Cowen reissued a “market perform” rating and set a $30.00 target price (up previously from $25.50) on shares of Covenant Transportation Group in a research note on Tuesday, January 30th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $32.60.

COPYRIGHT VIOLATION NOTICE: “Insider Selling: Covenant Transportation Group, Inc. (NASDAQ:CVTI) VP Sells 2,000 Shares of Stock” was first reported by Macon Daily and is the sole property of of Macon Daily. If you are viewing this report on another site, it was illegally copied and reposted in violation of United States and international copyright and trademark law. The legal version of this report can be read at https://macondaily.com/2018/04/12/ralph-h-lovin-jr-sells-2000-shares-of-covenant-transportation-group-inc-cvti-stock-updated-updated-updated.html.

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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