Foundry Partners LLC Has $8.89 Million Holdings in Covenant Transportation Group, Inc. (CVTI)

Foundry Partners LLC raised its stake in Covenant Transportation Group, Inc. (NASDAQ:CVTI) by 19.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 306,785 shares of the transportation company’s stock after purchasing an additional 50,600 shares during the period. Foundry Partners LLC owned about 1.68% of Covenant Transportation Group worth $8,891,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. American International Group Inc. raised its position in Covenant Transportation Group by 7.2% in the 1st quarter. American International Group Inc. now owns 7,309 shares of the transportation company’s stock valued at $137,000 after purchasing an additional 489 shares in the last quarter. Nationwide Fund Advisors increased its holdings in shares of Covenant Transportation Group by 11.9% in the 1st quarter. Nationwide Fund Advisors now owns 10,166 shares of the transportation company’s stock valued at $191,000 after acquiring an additional 1,080 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Covenant Transportation Group by 15.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,909 shares of the transportation company’s stock valued at $191,000 after acquiring an additional 1,472 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Covenant Transportation Group by 5.9% in the 2nd quarter. Rhumbline Advisers now owns 13,745 shares of the transportation company’s stock valued at $241,000 after acquiring an additional 760 shares during the last quarter. Finally, First Trust Advisors LP purchased a new position in shares of Covenant Transportation Group in the 3rd quarter valued at about $277,000. 60.82% of the stock is currently owned by institutional investors.

A number of research analysts have recently commented on CVTI shares. Zacks Investment Research upgraded Covenant Transportation Group from a “sell” rating to a “hold” rating in a report on Tuesday, September 5th. Cowen and Company reiterated a “buy” rating and issued a $24.00 price objective on shares of Covenant Transportation Group in a report on Monday, August 28th. BidaskClub downgraded Covenant Transportation Group from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 12th. Finally, TheStreet upgraded Covenant Transportation Group from a “c+” rating to a “b” rating in a report on Thursday, October 19th. Five research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Covenant Transportation Group currently has a consensus rating of “Hold” and an average target price of $25.63.

COPYRIGHT VIOLATION WARNING: This news story was first published by Community Financial News and is owned by of Community Financial News. If you are accessing this news story on another website, it was illegally copied and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this news story can be accessed at https://www.com-unik.info/2017/11/04/foundry-partners-llc-has-8-89-million-holdings-in-covenant-transportation-group-inc-cvti.html.

Covenant Transportation Group, Inc. (NASDAQ CVTI) traded down $0.55 on Friday, hitting $29.17. The stock had a trading volume of 129,289 shares, compared to its average volume of 211,140. The firm has a market cap of $545.87 million, a PE ratio of 43.26 and a beta of 1.69. The company has a current ratio of 1.59, a quick ratio of 1.54 and a debt-to-equity ratio of 0.76.

Covenant Transportation Group (NASDAQ:CVTI) last released its quarterly earnings data on Thursday, October 19th. The transportation company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.08. The company had revenue of $178.60 million for the quarter, compared to analyst estimates of $170.10 million. Covenant Transportation Group had a net margin of 1.82% and a return on equity of 5.35%. Covenant Transportation Group’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.16 EPS. research analysts expect that Covenant Transportation Group, Inc. will post 0.86 earnings per share for the current fiscal year.

In other news, VP Ralph H. Lovin, Jr. sold 4,000 shares of the business’s stock in a transaction dated Wednesday, October 11th. The shares were sold at an average price of $28.43, for a total transaction of $113,720.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Ralph H. Lovin, Jr. sold 8,922 shares of the business’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $25.48, for a total transaction of $227,332.56. Following the transaction, the vice president now owns 46,371 shares in the company, valued at $1,181,533.08. The disclosure for this sale can be found here. Insiders have sold a total of 440,441 shares of company stock worth $12,763,135 over the last 90 days. 35.20% of the stock is owned by company insiders.

Covenant Transportation Group Company Profile

Covenant Transportation Group, Inc is a provider of expedited long haul freight transportation, primarily using two-person driver teams in transcontinental lanes. The Company’s services also include refrigerated, dedicated, cross-border, regional and brokerage. The Company’s segments include Truckload and Other.

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

What are top analysts saying about Covenant Transportation Group Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Covenant Transportation Group Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit