Royce & Associates LP Acquires Shares of 13,000 Covenant Transportation Group, Inc. (CVTI)

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Royce & Associates LP acquired a new stake in Covenant Transportation Group, Inc. (NASDAQ:CVTI) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 13,000 shares of the transportation company’s stock, valued at approximately $250,000. Royce & Associates LP owned about 0.07% of Covenant Transportation Group at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. First Quadrant L P CA bought a new position in Covenant Transportation Group in the fourth quarter valued at approximately $253,000. Northern Trust Corp increased its stake in Covenant Transportation Group by 4.0% in the second quarter. Northern Trust Corp now owns 164,662 shares of the transportation company’s stock valued at $5,188,000 after acquiring an additional 6,277 shares during the last quarter. PEAK6 Investments LLC bought a new position in Covenant Transportation Group in the third quarter valued at approximately $236,000. AQR Capital Management LLC increased its stake in Covenant Transportation Group by 16.4% in the third quarter. AQR Capital Management LLC now owns 281,762 shares of the transportation company’s stock valued at $8,188,000 after acquiring an additional 39,600 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its stake in Covenant Transportation Group by 35.8% in the third quarter. Allianz Asset Management GmbH now owns 158,541 shares of the transportation company’s stock valued at $4,607,000 after acquiring an additional 41,822 shares during the last quarter. 64.06% of the stock is currently owned by institutional investors and hedge funds.

CVTI has been the topic of a number of recent analyst reports. Stephens set a $31.00 price objective on shares of Covenant Transportation Group and gave the company a “buy” rating in a research note on Thursday, January 24th. TheStreet cut shares of Covenant Transportation Group from a “b-” rating to a “c+” rating in a research note on Wednesday, December 26th. Zacks Investment Research raised shares of Covenant Transportation Group from a “sell” rating to a “hold” rating in a research note on Thursday, January 24th. BidaskClub raised shares of Covenant Transportation Group from a “strong sell” rating to a “sell” rating in a research note on Friday, January 25th. Finally, ValuEngine raised shares of Covenant Transportation Group from a “strong sell” rating to a “sell” rating in a research note on Thursday, January 24th. Four analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $31.75.

NASDAQ CVTI opened at $21.89 on Friday. The firm has a market cap of $401.59 million, a price-to-earnings ratio of 9.28 and a beta of 1.64. Covenant Transportation Group, Inc. has a fifty-two week low of $18.13 and a fifty-two week high of $35.19. The company has a current ratio of 1.50, a quick ratio of 1.47 and a debt-to-equity ratio of 0.62.

Covenant Transportation Group (NASDAQ:CVTI) last posted its earnings results on Wednesday, January 23rd. The transportation company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.16. The firm had revenue of $272.27 million for the quarter, compared to analysts’ expectations of $269.20 million. Covenant Transportation Group had a net margin of 4.80% and a return on equity of 13.89%. As a group, sell-side analysts predict that Covenant Transportation Group, Inc. will post 2.51 earnings per share for the current year.

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Covenant Transportation Group Company 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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