David Ray Parker Sells 54,219 Shares of Covenant Transportation Group, Inc. (NASDAQ:CVTI) Stock

Covenant Transportation Group, Inc. (NASDAQ:CVTI) CEO David Ray Parker sold 54,219 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $30.04, for a total value of $1,628,738.76. Following the transaction, the chief executive officer now owns 110,580 shares of the company’s stock, valued at approximately $3,321,823.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

  • 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) opened at $28.43 on Tuesday. The firm has a market capitalization of $511.95, a P/E ratio of 40.57 and a beta of 1.69. Covenant Transportation Group, Inc. has a 1 year low of $15.86 and a 1 year high of $30.60. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.66 and a quick ratio of 1.62.

Covenant Transportation Group (NASDAQ:CVTI) last posted its quarterly earnings results on Thursday, October 19th. The transportation company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.17 by $0.08. The firm 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 business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.16 earnings per share. sell-side analysts expect that Covenant Transportation Group, Inc. will post 0.86 EPS for the current year.

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CVTI has been the topic of several recent analyst reports. Zacks Investment Research raised Covenant Transportation Group from a “hold” rating to a “strong-buy” rating and set a $32.00 target price on the stock in a research report on Monday, October 16th. Cowen and Company reaffirmed a “hold” rating and set a $25.50 target price on shares of Covenant Transportation Group in a research report on Tuesday, October 24th. TheStreet raised Covenant Transportation Group from a “c+” rating to a “b” rating in a report on Thursday, October 19th. Stephens raised Covenant Transportation Group from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $20.00 to $25.00 in a report on Monday, August 14th. Finally, BidaskClub raised Covenant Transportation Group from a “strong sell” rating to a “sell” rating in a report on Thursday, August 3rd. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $25.63.

Several hedge funds and other institutional investors have recently modified their holdings of CVTI. Nationwide Fund Advisors grew its stake in shares of Covenant Transportation Group by 11.9% in the first quarter. Nationwide Fund Advisors now owns 10,166 shares of the transportation company’s stock valued at $191,000 after buying an additional 1,080 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Covenant Transportation Group by 5.8% in the 1st quarter. Bank of New York Mellon Corp now owns 63,247 shares of the transportation company’s stock valued at $1,190,000 after purchasing an additional 3,473 shares during the last quarter. American International Group Inc. lifted its holdings in shares of Covenant Transportation Group by 7.2% in the 1st quarter. American International Group Inc. now owns 7,309 shares of the transportation company’s stock valued at $137,000 after purchasing an additional 489 shares during the last quarter. Wellington Management Group LLP increased its position in Covenant Transportation Group by 194.1% in the 1st quarter. Wellington Management Group LLP now owns 373,626 shares of the transportation company’s stock valued at $7,024,000 after acquiring an additional 246,585 shares during the period. Finally, FMR LLC increased its position in Covenant Transportation Group by 0.4% in the 1st quarter. FMR LLC now owns 463,000 shares of the transportation company’s stock valued at $8,704,000 after acquiring an additional 1,700 shares during the period. 65.60% of the stock is owned by institutional investors and hedge funds.

About Covenant Transportation Group

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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