During December, a significant number of short positions increased in Covenant Logistics Group, Inc. (NASDAQ: CVLG). As of December 15, there were 559,800 shares on loan, a 9.5% increase from the 511,000 shares on loan during the previous month. During December, approximately 6.6% of the company’s shares were sold short by CVLG Short Selling, Inc. (NASDAQ: CVLG). As of December 15, there were 559,800 shares on loan, a 9.5% increase from the 511,000 shares on loan during the previous month. A short position is held on approximately 6.6% of the company’s shares at any given time. The number of days represented by the short-interest ratio is currently 4.5. This is determined by the typical daily trading volume of 124,800 shares used in the calculation.
The most recent earnings report for Covenant Logistics Group, which is publicly traded and can be found on the NASDAQ under the symbol CVLG, was released on October 20. The company reported earnings per share (EPS) of $1.52 for the quarter, which was $0.15 higher than the consensus estimate of $1.37 per share. The net margin for the company was 9.46%, and the return on equity was 24.55%. Covenant Logistics Group had a return on equity of 24.6 percent. The revenue the company brought in for the quarter was $311.84 million, even though market watchers predicted that the company would bring in $296.00 million in revenue for the quarter. Analysts in this sector forecast that Covenant Logistics Group will generate 5.98 cents per share in the current fiscal year.
In addition, the company declared a quarterly dividend, which was paid out on the Friday after December 30 (December 30). On Friday, December 2, dividend payments of $0.08 per share were made to shareholders who were recorded as having shares as of that day. These payments were made to shareholders registered as having shares as of that day. As a direct result, the dividend payment will be $0.32 per year, and the yield will be 0.93%. The dividend was distributed to the company’s shareholders on the first Thursday of December. 4.37 percent is the dividend payout ratio (DPR) currently maintained by Covenant Logistics Group.
When the NASDAQ CVLG market opened for trading on Tuesday, the opening price was $34.57. Over the previous year, the price of Covenant Logistics Group has ranged from a low of $17.23 to a high of $40.37. The current price is $17.23. The current ratio is 1.33, the quick ratio is 1.30, and the debt-to-equity ratio is 0.19. All of these ratios are fairly standard. These ratios are all fairly standard in the industry. The price-to-earnings ratio for the stock is currently 4.72, with a market value of $466.49 million. The stock’s beta value is currently 1.44. According to the 200-day simple moving average, the stock’s current price is $32.18. The stock price is $37.28 according to the 50-day simple moving average.
Several brokerage firms have recently demonstrated an increased interest in CVLG. On Thursday, October 27, Cowen increased their price objective on the stock of Covenant Logistics Group from their previous level of $36.00 to $38.00their price objective on the stock of Covenant Logistics Group from their previous level of $36.00 to $38.00. Stephens upgraded Covenant Logistics Group from an “equal weight” rating to an “overweight” rating and raised their price target on the company’s stock in a research report published on Monday, October 24. Stephens also increased his price target for the company’s stock.
Bradley A. Moline, a director at the company, sold 20,000 shares of the company’s stock on Wednesday, October 26. This is just one of the many recent occurrences that have taken place in recent times. According to the transaction’s weighted average price of $36.24 per share, the total value of the transaction came to a total of $724,800.00 after the shares were sold. Following the acquisition completion, the director obtained a direct ownership interest in a total of 49,399 shares of the company’s stock, which together have an approximate value of $1,790,219.76. The Securities and Exchange Commission was given legal documentation about the transaction, which can be viewed entirely by following the link provided in the previous sentence. The documentation was provided to the SEC. On Monday, October 10, the company’s president, Joey B. Hogan, sold 10,000 shares of company stock. This is just one of the latest developments relating to this subject. The sale of the shares brought in a total of $303,500.00 in revenue, equivalent to an average price of $30.35 per share for the shares themselves. As a direct consequence of the transaction, the company’s president now owns 31,508 shares, which have an estimated value of $956,267.80. If you follow this link, you will be taken to the filing submitted to the Securities and Exchange Commission, where the transaction was discussed, and it will take you there immediately. In addition, Bradley A. Moline, a company director, sold 20,000 shares of the company’s stock on Wednesday, October 26. According to the transaction’s weighted average price of $36.24 per share, the total value of the transaction came to a total of $724,800.00 after the shares were sold. Following the conclusion of the transaction, the director is now the owner of 49,399 shares in the company. The total value of these shares is $1,790,219,76. Disclosures that are related to the sale might be found in this section of the website. Insiders of the company sold 43,548 shares for a total price of $1,459,760 during the three months before the most recent financial period. The company’s insiders own the shares of stock to the extent of 29.10%.