Covenant Logistics (CVLG)

• Market cap: $717M
• 1 day: 0.70%
• 5 days: -5.90%
• 1 month: -4.16%
• 3 months: 3.90%
• 6 months: 14.34%
• Year to date: 20.26%
• 1 year: 21.71%
• 5 years: 322.53%
• 10 years: 104.21%
• Sector: Industrials
• Industry: Trucking, Except Local

About: Covenant Logistics Group Inc together with its wholly-owned subsidiaries offers truckload transportation and freight brokerage services to customers throughout the continental United States. The company's reportable segments include Expedited, Dedicated Services, Managed Freight and Warehousing. Expedited segment provides truckload services to customers with high service freight and delivery standards. Dedicated segment provides customers with committed truckload capacity over contracted periods with the goal of three to five years in length. Managed Freight segment includes brokerage services and TMS. Warehousing segment provides day-to-day warehouse management services to customers who have chosen to outsource this function. Majority of revenue is generated from expedited segment.

Employees: 4,600

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

38% more first-time investments, than exits

New positions opened: 22 | Existing positions closed: 16

6% more capital invested

Capital invested by funds: $339M [Q2] → $360M (+$21.1M) [Q3]

4% more funds holding

Funds holding: 154 [Q2] → 160 (+6) [Q3]

0.73% less ownership

Funds ownership: 63.98% [Q2] → 63.25% (-0.73%) [Q3]

15% less repeat investments, than reductions

Existing positions increased: 46 | Existing positions reduced: 54

43% less call options, than puts

Call options by funds: $1.21M | Put options by funds: $2.12M

50% less funds holding in top 10

Funds holding in top 10: 2 [Q2] → 1 (-1) [Q3]

Research analyst outlook

1 Wall Street Analyst provided 1 year price targets over the past 3 months

• Low target: $69 27% upside
• Avg. target: $69 27% upside
• High target: $69 27% upside

1 analyst rating

• positive: 1 100%
• neutral: 0 0%
• negative: 0 0%

TD Cowen Jason Seidl 62% 1-year accuracy 26 / 42 met price target

27% upside $69

Buy Maintained

25 Oct 2024