Dimensional Fund Advisors LP grew its position in Covenant Transportation Group, Inc. (NASDAQ:CVTI) by 0.4% in the third quarter, HoldingsChannel.com reports. The firm owned 1,343,474 shares of the transportation company’s stock after acquiring an additional 5,817 shares during the period. Dimensional Fund Advisors LP owned 0.07% of Covenant Transportation Group worth $38,932,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of CVTI. Rhumbline Advisers boosted its position in shares of Covenant Transportation Group by 5.9% in the second quarter. Rhumbline Advisers now owns 13,745 shares of the transportation company’s stock worth $241,000 after purchasing an additional 760 shares during the period. Victory Capital Management Inc. boosted its position in shares of Covenant Transportation Group by 11.5% in the second quarter. Victory Capital Management Inc. now owns 71,802 shares of the transportation company’s stock worth $1,259,000 after purchasing an additional 7,430 shares during the period. Alliancebernstein L.P. boosted its position in shares of Covenant Transportation Group by 11.6% in the second quarter. Alliancebernstein L.P. now owns 1,480,296 shares of the transportation company’s stock worth $25,950,000 after purchasing an additional 153,410 shares during the period. TIAA CREF Investment Management LLC boosted its position in shares of Covenant Transportation Group by 1.0% in the second quarter. TIAA CREF Investment Management LLC now owns 32,530 shares of the transportation company’s stock worth $570,000 after purchasing an additional 312 shares during the period. Finally, Nationwide Fund Advisors boosted its position in shares of Covenant Transportation Group by 156.4% in the second quarter. Nationwide Fund Advisors now owns 26,066 shares of the transportation company’s stock worth $457,000 after purchasing an additional 15,900 shares during the period. Institutional investors and hedge funds own 63.29% of the company’s stock.

In other news, Chairman David Ray Parker sold 60,919 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $30.04, for a total value of $1,830,006.76. Following the transaction, the chairman now owns 110,580 shares of the company’s stock, valued at $3,321,823.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Samuel F. Hough sold 2,000 shares of the business’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $30.00, for a total transaction of $60,000.00. Following the completion of the transaction, the chief operating officer now directly owns 62,763 shares in the company, valued at approximately $1,882,890. The disclosure for this sale can be found here. Insiders sold 508,826 shares of company stock worth $14,887,155 in the last three months. Insiders own 35.20% of the company’s stock.

Covenant Transportation Group, Inc. (NASDAQ:CVTI) opened at $28.64 on Friday. Covenant Transportation Group, Inc. has a 1-year low of $15.86 and a 1-year high of $30.60. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.66 and a quick ratio of 1.62. The company has a market cap of $518.72, a price-to-earnings ratio of 43.39 and a beta of 1.68.

Covenant Transportation Group (NASDAQ:CVTI) last released its earnings results on Thursday, October 19th. The transportation company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.17 by $0.08. Covenant Transportation Group had a net margin of 1.82% and a return on equity of 5.30%. The firm had revenue of $178.60 million for the quarter, compared to the consensus estimate of $170.10 million. During the same quarter in the previous year, the firm earned $0.16 earnings per share. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. research analysts expect that Covenant Transportation Group, Inc. will post 0.9 EPS for the current fiscal year.

A number of equities analysts have weighed in on the stock. BidaskClub lowered shares of Covenant Transportation Group from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. Zacks Investment Research upgraded shares of Covenant Transportation Group from a “sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. Cowen lowered shares of Covenant Transportation Group from an “outperform” rating to a “market perform” rating in a research report on Monday, October 16th. ValuEngine lowered shares of Covenant Transportation Group from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, TheStreet raised shares of Covenant Transportation Group from a “c+” rating to a “b” rating in a report on Thursday, October 19th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Covenant Transportation Group currently has a consensus rating of “Hold” and a consensus price target of $27.50.

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About Covenant Transportation Group

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.

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

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