Covenant Logistics Group, Inc. (NASDAQ:CVLG) to Issue Quarterly Dividend of $0.07

Covenant Logistics Group, Inc. (NASDAQ:CVLG) declared a quarterly dividend on Friday, February 14th,RTT News reports. Stockholders 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 dividend yield of 1.04%. This is a boost from Covenant Logistics Group’s previous quarterly dividend of $0.06.

Covenant Logistics Group Stock Up 1.0 %

Shares of CVLG opened at $26.93 on Friday. The business’s 50 day moving average is $28.22 and its 200 day moving average is $27.29. The company has a market capitalization of $709.74 million, a PE ratio of 20.79 and a beta of 1.40. Covenant Logistics Group has a 12-month low of $21.51 and a 12-month high of $30.77. The company has a current ratio of 1.10, a quick ratio of 1.07 and a debt-to-equity ratio of 0.46.

Insiders Place Their Bets

In other Covenant Logistics Group news, CAO Matisse Long sold 2,114 shares of Covenant Logistics Group stock in a transaction that occurred on Tuesday, January 28th. The stock was 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 $446,814.30. The trade was a 12.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 36.50% of the company’s stock.

Analyst Ratings Changes

CVLG has been the topic of several recent analyst reports. Stephens reissued an “overweight” rating and set a $36.00 target price on shares of Covenant Logistics Group in a research note on Friday, January 24th. TD Cowen decreased 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.

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.