Connor Clark & Lunn Investment Management Ltd. Has $1.15 Million Holdings in Covenant Transportation Group, Inc. (CVTI)

Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Covenant Transportation Group, Inc. (NASDAQ:CVTI) by 11.6% during the 4th quarter, Holdings Channel reports. The firm owned 60,000 shares of the transportation company’s stock after purchasing an additional 6,250 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Covenant Transportation Group were worth $1,152,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in CVTI. Great West Life Assurance Co. Can bought a new position in shares of Covenant Transportation Group during the fourth quarter valued at $51,000. Employees Retirement System of Texas lifted its holdings in shares of Covenant Transportation Group by 15.2% during the fourth quarter. Employees Retirement System of Texas now owns 53,000 shares of the transportation company’s stock valued at $1,018,000 after acquiring an additional 7,000 shares during the period. Alambic Investment Management L.P. lifted its holdings in shares of Covenant Transportation Group by 110.0% during the fourth quarter. Alambic Investment Management L.P. now owns 19,331 shares of the transportation company’s stock valued at $371,000 after acquiring an additional 10,127 shares during the period. GSA Capital Partners LLP lifted its holdings in shares of Covenant Transportation Group by 32.3% during the fourth quarter. GSA Capital Partners LLP now owns 55,143 shares of the transportation company’s stock valued at $1,059,000 after acquiring an additional 13,476 shares during the period. Finally, Noked Capital LTD bought a new position in shares of Covenant Transportation Group during the fourth quarter valued at $307,000. Institutional investors own 64.06% of the company’s stock.

Covenant Transportation Group stock opened at $21.89 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.50 and a quick ratio of 1.47. Covenant Transportation Group, Inc. has a 12-month low of $18.13 and a 12-month high of $35.19. The stock has a market capitalization of $401.59 million, a P/E ratio of 9.28 and a beta of 1.64.

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

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

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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 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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