Covenant Transportation Group, Inc. (CVTI) Position Increased by Horrell Capital Management Inc.

Horrell Capital Management Inc. boosted its stake in shares of Covenant Transportation Group, Inc. (NASDAQ:CVTI) by 0.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,260 shares of the company’s stock after buying an additional 100 shares during the period. Horrell Capital Management Inc. owned approximately 0.15% of Covenant Transportation Group worth $612,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. FMR LLC increased its stake in shares of Covenant Transportation Group by 31.1% in the fourth quarter. FMR LLC now owns 461,300 shares of the company’s stock valued at $8,921,000 after buying an additional 109,300 shares in the last quarter. Mutual of America Capital Management LLC increased its stake in shares of Covenant Transportation Group by 3.3% in the third quarter. Mutual of America Capital Management LLC now owns 420,757 shares of the company’s stock valued at $8,133,000 after buying an additional 13,443 shares in the last quarter. Penn Capital Management Co. Inc. increased its stake in shares of Covenant Transportation Group by 86.1% in the third quarter. Penn Capital Management Co. Inc. now owns 356,292 shares of the company’s stock valued at $6,887,000 after buying an additional 164,826 shares in the last quarter. Cortina Asset Management LLC increased its stake in shares of Covenant Transportation Group by 1.8% in the fourth quarter. Cortina Asset Management LLC now owns 322,324 shares of the company’s stock valued at $6,234,000 after buying an additional 5,792 shares in the last quarter. Finally, Foundry Partners LLC increased its stake in shares of Covenant Transportation Group by 0.3% in the first quarter. Foundry Partners LLC now owns 249,535 shares of the company’s stock valued at $4,691,000 after buying an additional 750 shares in the last quarter. 62.05% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Covenant Transportation Group (NASDAQ:CVTI)

Covenant Transportation Group, Inc. (NASDAQ:CVTI) traded up 0.12% on Thursday, hitting $17.18. 38,927 shares of the stock were exchanged. The firm has a market cap of $313.57 million, a PE ratio of 18.67 and a beta of 1.25. Covenant Transportation Group, Inc. has a 52-week low of $14.26 and a 52-week high of $25.22. The stock’s 50 day moving average price is $18.77 and its 200 day moving average price is $19.14.

Covenant Transportation Group (NASDAQ:CVTI) last released its quarterly earnings results on Wednesday, January 25th. The company reported $0.33 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.33. Covenant Transportation Group had a net margin of 2.43% and a return on equity of 7.49%. The firm had revenue of $191 million for the quarter, compared to analysts’ expectations of $187.82 million. During the same quarter last year, the company earned $0.73 EPS. The firm’s revenue for the quarter was down 8.2% compared to the same quarter last year. Equities research analysts forecast that Covenant Transportation Group, Inc. will post $0.92 earnings per share for the current year.

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Several equities research analysts have recently weighed in on CVTI shares. Stephens downgraded shares of Covenant Transportation Group from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, January 4th. Seaport Global Securities reissued a “neutral” rating on shares of Covenant Transportation Group in a research note on Friday, December 16th. Finally, Stifel Nicolaus downgraded shares of Covenant Transportation Group from a “buy” rating to a “hold” rating and reduced their target price for the company from $24.00 to $20.00 in a research note on Thursday, January 5th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $21.00.

In other Covenant Transportation Group news, COO James F. Brower, Jr. sold 5,000 shares of Covenant Transportation Group stock in a transaction on Monday, January 30th. The shares were sold at an average price of $21.77, for a total transaction of $108,850.00. Following the sale, the chief operating officer now owns 40,718 shares of the company’s stock, valued at approximately $886,430.86. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Ralph H. Lovin, Jr. sold 3,000 shares of Covenant Transportation Group stock in a transaction on Monday, January 30th. The stock was sold at an average price of $21.76, for a total transaction of $65,280.00. Following the sale, the vice president now directly owns 44,113 shares in the company, valued at approximately $959,898.88. The disclosure for this sale can be found here. 35.40% of the stock is currently owned by company insiders.

Covenant Transportation Group Company Profile

Covenant Transportation Group, Inc is a truckload transportation company. The Company provides truckload transportation and brokerage services to customers throughout the continental United States, into and out of Mexico, and into and out of portions of Canada. It operates through the asset-based truckload services (Truckload) segment.

5 Day Chart for NASDAQ:CVTI

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