Dynamic Technology Lab Private Ltd Has $340,000 Holdings in Covenant Transportation Group, Inc. (CVTI)

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Dynamic Technology Lab Private Ltd lifted its position in shares of Covenant Transportation Group, Inc. (NASDAQ:CVTI) by 31.1% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,788 shares of the transportation company’s stock after buying an additional 2,561 shares during the quarter. Dynamic Technology Lab Private Ltd owned about 0.06% of Covenant Transportation Group worth $340,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CVTI. Strs Ohio raised its stake in Covenant Transportation Group by 9.5% during the second quarter. Strs Ohio now owns 24,300 shares of the transportation company’s stock worth $765,000 after acquiring an additional 2,100 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Covenant Transportation Group by 18.3% during the second quarter. First Trust Advisors LP now owns 13,763 shares of the transportation company’s stock worth $434,000 after purchasing an additional 2,126 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Covenant Transportation Group by 6.2% during the second quarter. Russell Investments Group Ltd. now owns 36,987 shares of the transportation company’s stock worth $1,165,000 after purchasing an additional 2,170 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Covenant Transportation Group by 10.2% during the first quarter. Commonwealth Equity Services LLC now owns 25,790 shares of the transportation company’s stock worth $769,000 after purchasing an additional 2,384 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Covenant Transportation Group by 3.9% during the second quarter. American Century Companies Inc. now owns 75,198 shares of the transportation company’s stock worth $2,369,000 after purchasing an additional 2,825 shares during the last quarter. 65.42% of the stock is owned by institutional investors and hedge funds.

CVTI has been the topic of several research reports. ValuEngine cut Covenant Transportation Group from a “buy” rating to a “hold” rating in a report on Tuesday, September 4th. BidaskClub cut Covenant Transportation Group from a “buy” rating to a “hold” rating in a report on Friday, September 21st. Stephens reiterated a “buy” rating and issued a $35.00 target price on shares of Covenant Transportation Group in a report on Friday, July 27th. Finally, Wolfe Research cut Covenant Transportation Group from a “peer perform” rating to an “underperform” rating in a report on Friday, October 5th. Three analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $36.60.

In related news, President Joey B. Hogan sold 7,300 shares of the stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $30.01, for a total value of $219,073.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 33.10% of the stock is owned by corporate insiders.

CVTI traded down $0.29 during trading on Friday, hitting $25.16. The company’s stock had a trading volume of 145,146 shares, compared to its average volume of 167,556. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.80 and a current ratio of 2.84. Covenant Transportation Group, Inc. has a twelve month low of $24.79 and a twelve month high of $35.19. The firm has a market cap of $533.05 million, a PE ratio of 29.95 and a beta of 1.42.

Covenant Transportation Group (NASDAQ:CVTI) last issued its earnings results on Wednesday, July 25th. The transportation company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.05. Covenant Transportation Group had a return on equity of 9.77% and a net margin of 9.09%. The company had revenue of $196.32 million for the quarter, compared to analyst estimates of $199.25 million. Research analysts predict that Covenant Transportation Group, Inc. will post 2.13 EPS for the current fiscal year.

Covenant Transportation Group Profile

Covenant Transportation Group, Inc, together with its subsidiaries, provides truckload transportation and brokerage services primarily in the continental United States. It offers long haul, dedicated, temperature-controlled, and regional solo-driver services; long haul, regional, dedicated, and intermodal temperature-controlled services; and regional solo-driver and dedicated services.

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

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