Today’s Shorts Alert: Covenant Transportation Group Class (NASDAQ:CVTI) Has Decline in Shorts

November 30, 2016 - By kentuckypostne   ·   0 Comments

Today's Shorts Alert: Covenant Transportation Group Class (NASDAQ:CVTI) Has Decline in Shorts

The stock of Covenant Transportation Group Class (NASDAQ:CVTI) registered a decrease of 9% in short interest. CVTI’s total short interest was 471,400 shares in November as published by FINRA. Its down 9% from 518,000 shares, reported previously. With 191,300 shares average volume, it will take short sellers 3 days to cover their CVTI’s short positions. The short interest to Covenant Transportation Group Class’s float is 4.08%. About 52,659 shares traded hands. Covenant Transportation Group, Inc. (NASDAQ:CVTI) has declined 16.65% since April 27, 2016 and is downtrending. It has underperformed by 21.87% the S&P500.

Covenant Transportation Group, Inc. is a truckload transportation company. The company has a market cap of $379.57 million. The Firm provides truckload transportation and brokerage services to clients throughout the continental United States, into and out of Mexico, and into and out of portions of Canada. It has a 15.64 P/E ratio. It operates through the asset truckload services segment.

Insitutional Activity: The institutional sentiment increased to 1.19 in Q2 2016. Its up 0.08, from 1.11 in 2016Q1. The ratio increased, as 18 funds sold all Covenant Transportation Group, Inc. shares owned while 20 reduced positions. 12 funds bought stakes while 30 increased positions. They now own 11.23 million shares or 4.18% more from 10.78 million shares in 2016Q1.
Savings Bank Of America De last reported 1,817 shares in the company. Blackrock Institutional Na accumulated 359,589 shares or 0% of the stock. Tower Cap Lc (Trc) reported 433 shares or 0% of all its holdings. Geode Mngmt Lc holds 0% of its portfolio in Covenant Transportation Group, Inc. (NASDAQ:CVTI) for 92,811 shares. Commonwealth Equity Ser reported 27,717 shares or 0% of all its holdings. Mutual Of America Capital Management Limited Com accumulated 407,314 shares or 0.16% of the stock. Deutsche Comml Bank Ag holds 0% or 1,831 shares in its portfolio. Wedge Mngmt L Limited Partnership Nc, a North Carolina-based fund reported 25,900 shares. Foundry Prtn Limited Company accumulated 0.13% or 126,645 shares. Moreover, State Common Retirement Fund has 0% invested in Covenant Transportation Group, Inc. (NASDAQ:CVTI) for 11,800 shares. Oxford Asset Mgmt last reported 102,048 shares in the company. Brandywine Investment Mgmt Limited Com last reported 0% of its portfolio in the stock. Moreover, Fisher Asset Mngmt Ltd Liability has 0.01% invested in Covenant Transportation Group, Inc. (NASDAQ:CVTI) for 149,408 shares. The Ohio-based Fifth Third Comml Bank has invested 0% in Covenant Transportation Group, Inc. (NASDAQ:CVTI). Blackrock Grp Limited holds 3,022 shares or 0% of its portfolio.

Covenant Transportation Group, Inc. (NASDAQ:CVTI) Ratings Coverage

Out of 4 analysts covering Covenant Transportation Group (NASDAQ:CVTI), 3 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 75% are positive. Covenant Transportation Group has been the topic of 8 analyst reports since October 19, 2015 according to StockzIntelligence Inc. The rating was maintained by Cowen & Co with “Outperform” on Wednesday, December 16. Stifel Nicolaus initiated the shares of CVTI in a report on Wednesday, March 23 with “Buy” rating. The firm has “Outperform” rating given on Wednesday, January 27 by Cowen & Co. The firm earned “Outperform” rating on Friday, October 21 by Cowen & Co. The company was maintained on Thursday, October 20 by Stifel Nicolaus. Avondale downgraded Covenant Transportation Group, Inc. (NASDAQ:CVTI) on Monday, March 14 to “Market Perform” rating. The rating was maintained by Cowen & Co with “Outperform” on Friday, October 14.

CVTI Company Profile

Covenant Transportation Group, Inc., incorporated on May 24, 1994, is a truckload transportation company. The Firm provides truckload transportation and brokerage services to clients throughout the continental United States, into and out of Mexico, and into and out of portions of Canada. The Firm operates through the asset truckload services (Truckload) segment. The Truckload segment consists of three asset operating fleets: Covenant Transport, Inc. (Covenant Transport), which provides expedited long haul, dedicated, temperature-controlled, and regional solo-driver service; Southern Refrigerated Transport, Inc. (SRT), which provides primarily long haul, regional, and intermodal temperature-controlled service, and Star Transportation, Inc. (Star), which provides regional solo-driver and services, primarily in the southeastern United States. In addition, its Covenant Transport Solutions, Inc. (Solutions) subsidiary has service offerings ancillary to its Truckload operations, including freight brokerage service directly and through freight brokerage agents that paid a commission for the freight they provide, and accounts receivable factoring.

More important recent Covenant Transportation Group, Inc. (NASDAQ:CVTI) news were published by: Marketwatch.com which released: “Covenant Transportation downgraded to hold from buy at BB&T Capital” on December 21, 2009, also Globenewswire.com published article titled: “Covenant Transportation Group Updates Expectations Concerning Second Quarter …”, Globenewswire.com published: “Covenant Transportation Group Announces Executive Team Changes” on February 18, 2016. More interesting news about Covenant Transportation Group, Inc. (NASDAQ:CVTI) was released by: Globenewswire.com and their article: “Covenant Transportation Group Announces First Quarter Financial and Operating …” with publication date: April 27, 2016.

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