Covenant Transportation Group, Inc. (NASDAQ:CVTI) Shares Sold by Renaissance Technologies …

Renaissance Technologies LLC decreased its position in Covenant Transportation Group, Inc. (NASDAQ:CVTI) by 4.9% in the second quarter, …

Covenant Transportation Group logoRenaissance Technologies LLC decreased its position in Covenant Transportation Group, Inc. (NASDAQ:CVTI) by 4.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,100 shares of the transportation company’s stock after selling 3,100 shares during the period. Renaissance Technologies LLC owned approximately 0.33% of Covenant Transportation Group worth $884,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in Covenant Transportation Group by 0.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 157,001 shares of the transportation company’s stock worth $2,204,000 after acquiring an additional 955 shares during the last quarter. Campbell & CO Investment Adviser LLC raised its stake in shares of Covenant Transportation Group by 8.0% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 13,856 shares of the transportation company’s stock valued at $204,000 after buying an additional 1,029 shares during the last quarter. Swiss National Bank raised its stake in shares of Covenant Transportation Group by 5.8% during the 2nd quarter. Swiss National Bank now owns 23,900 shares of the transportation company’s stock valued at $352,000 after buying an additional 1,300 shares during the last quarter. Strs Ohio raised its stake in shares of Covenant Transportation Group by 7.6% during the 2nd quarter. Strs Ohio now owns 21,200 shares of the transportation company’s stock valued at $311,000 after buying an additional 1,500 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Covenant Transportation Group by 5.6% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 28,593 shares of the transportation company’s stock valued at $421,000 after buying an additional 1,515 shares during the last quarter. Institutional investors own 63.29% of the company’s stock.

A number of research firms have weighed in on CVTI. ValuEngine upgraded Covenant Transportation Group from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. BidaskClub upgraded Covenant Transportation Group from a “sell” rating to a “hold” rating in a research report on Tuesday, October 22nd. Cowen restated a “buy” rating and set a $21.00 target price on shares of Covenant Transportation Group in a research report on Friday, October 18th. Stifel Nicolaus cut Covenant Transportation Group from a “buy” rating to a “hold” rating and set a $18.00 price objective on the stock. in a report on Wednesday. Finally, Zacks Investment Research upgraded Covenant Transportation Group from a “strong sell” rating to a “hold” rating in a report on Monday, October 14th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Covenant Transportation Group currently has a consensus rating of “Hold” and a consensus target price of $21.33.

Shares of Covenant Transportation Group stock opened at $15.37 on Friday. The stock has a market cap of $308.99 million, a P/E ratio of 11.47 and a beta of 1.70. The stock’s 50 day simple moving average is $16.34 and its 200-day simple moving average is $16.06. Covenant Transportation Group, Inc. has a 1-year low of $13.27 and a 1-year high of $25.84. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.70 and a quick ratio of 1.67.

Covenant Transportation Group (NASDAQ:CVTI) last released its quarterly earnings results on Tuesday, October 22nd. The transportation company reported ($0.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.11). The firm had revenue of $222.91 million for the quarter, compared to analysts’ expectations of $209.50 million. Covenant Transportation Group had a net margin of 2.55% and a return on equity of 7.80%. As a group, research analysts expect that Covenant Transportation Group, Inc. will post 1.06 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 expedited and dedicated services. The company also provides ancillary services, including freight brokerage and logistics services, warehousing, and accounts receivable factoring; and over-the-road truckload services, as well as transportation management, shuttle, and switching services.

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

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