Patton Albertson Miller Group LLC Increases Holdings in Covenant …

Patton Albertson Miller Group LLC, a leading institutional investor, recently increased its holdings in renowned transportation firm Covenant Logistics Group, Inc. by 16.1%. The investment company now owns 283,389 shares of Covenant Logistics Group’s stock, making it the seventh largest holding in its investment portfolio. The increased investment shows great faith in the future of this company.

Covenant Logistics Group is an industry leader in providing high-quality freight and logistics services across the United States. The firm operates two main service offerings through its Highway Services Segment – Expedited Services and Over-the-Road Services – which transport one-way freight over non-routine routes.

Despite missing the consensus estimate for earnings per share (EPS) in Q4 2020 by $0.14, Covenant Logistics Group reported a reputable EPS of $1.37 for the quarter on January 25th, testament to its continued market dominance and financial stability. Additionally, the business earned $296.06 million that quarter, indicating steady growth despite challenging circumstances.

This data holds significant implications for both investors and analysts alike as they try to evaluate the future prospects of Covenant Logistics Group. Analysts are predicting an expected EPS of 3.77 for this year – a result that will undoubtedly help investors realize lucrative returns on their investments.

Patton Albertson Miller Group LLC’s investment in Covenant Logistics comes at a time when many investors are seeking companies with sound business models that can withstand tough market conditions and regulatory changes while guaranteeing consistent yields.

In conclusion, Patton Albertson Miller Group LLC’s confidence in Covenant Logistics Grouphas shown a willingness to invest heavily into well-established organizations with an excellent outlook for growth amidst tough economic times cementing investor confidence towards Covenant Logistic’s growth potential as one of America’s leading freight transportation companies that continues to outperform.Key reasons behind value investing have been precisely outlined today through Patton Albertson Miller’s latest acquisition path sending out signals both legal and informal of the enviable returns in stock investors, who have chosen to increase their investments into Covenant Logistics Group.

Institutional Investors and Hedge Funds Take Notice: Covenant Logistics Group Garners Strong Interest with Surge in Investment

Covenant Logistics Group, Inc., a holding company that provides freight and logistics services, has recently seen a surge of interest from institutional investors and hedge funds. UBS Group AG has grown its position in the company by an eye-popping 2,728.1% in the third quarter, now owning 1,810 shares of Covenant Logistics Group valued at $52,000 after acquiring an additional 1,746 shares. Likewise, C M Bidwell & Associates Ltd. acquired a new stake worth approximately $64,000 while Truvestments Capital LLC grew its position by 71.1%, now owning 2,407 shares valued at $69,000. Counterpoint Mutual Funds LLC also entered the picture with a new stake worth approximately $128,000. In addition to these notable investments, MetLife Investment Management LLC grew its position by 57%, purchasing an additional 2,514 shares now worth $149,000.

Overall, institutional investors and hedge funds own an impressive 85.68% of Covenant Logistics Group’s stock. This is understandable as the company operates through two key segments: Highway Services and Dedicated Contract Services which includes Expedited and Over-the-Road Services transporting one-way freight over non-routine routes respectively.

As for the financial standing of Covenant Logistics Group itself; shares of CVLG opened at $34.88 on Friday with a fifty-day moving average price of $34.44 and a two-hundred-day moving average price of $34.56; its market capitalization is currently at $461.81 million with a PE ratio of 4.93 and a beta of 1.38.

The company also announced that it will be paying out its quarterly dividend on March 31st to shareholders who were on record as of March 3rd; they will receive an increased dividend payout from previous quarters amounting to $0.11 per share or $0.44 per year in total, with a yield of 1.26%.

With such a strong market presence and institutional support, Covenant Logistics Group certainly seems like a worthy investment in such uncertain economic times; as evidenced by Wolfe Research who recently raised their rating from “underperform” to “peer perform”.

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