Covenant Logistics Group, Inc. (NASDAQ:CVLG) Plans Dividend Increase – $0.07 Per Share

Covenant Logistics Group, Inc. (NASDAQ:CVLG) declared a quarterly dividend on Friday, February 14th,RTT News reports. Shareholders of record on Friday, March 7th will be given a dividend of 0.07 per share on Friday, March 28th. This represents a $0.28 dividend on an annualized basis and a yield of 1.04%. This is a positive change from Covenant Logistics Group’s previous quarterly dividend of $0.06.

Covenant Logistics Group Price Performance

CVLG stock opened at $26.93 on Friday. The company has a market capitalization of $709.74 million, a P/E ratio of 20.79 and a beta of 1.40. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.07 and a current ratio of 1.10. Covenant Logistics Group has a 52-week low of $21.51 and a 52-week high of $30.77. The business has a 50-day simple moving average of $28.22 and a two-hundred day simple moving average of $27.29.

Insider Transactions at Covenant Logistics Group

In related news, CAO Matisse Long sold 2,114 shares of Covenant Logistics Group stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $28.95, for a total value of $61,200.30. Following the sale, the chief accounting officer now owns 15,434 shares of the company’s stock, valued at approximately $446,814.30. The trade was a 12.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 36.50% of the company’s stock.

Analyst Upgrades and Downgrades

CVLG has been the topic of a number of research analyst reports. TD Cowen cut their target price on Covenant Logistics Group from $35.00 to $34.50 and set a “buy” rating on the stock in a research note on Friday, October 25th. Stephens restated an “overweight” rating and issued a $36.00 target price on shares of Covenant Logistics Group in a research note on Friday, January 24th.

About Covenant Logistics Group

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.