Dimensional Fund Advisors Holds 18.2% Stake in Covenant Logistics

TL;DR

**Dimensional Fund Advisors still owns 18.2% of Covenant Logistics, signaling continued institutional confidence.**

AI Summary

Dimensional Fund Advisors LP, a major investment firm, has updated its ownership stake in Covenant Logistics Group Inc. As of December 29, 2023, Dimensional Fund Advisors LP reported beneficial ownership of 3,044,784 shares of Common Stock, representing 18.2% of the company. This is an amendment (Amendment No. 24) to their previous filings, indicating a significant, long-term institutional interest in Covenant Logistics Group Inc. This matters to investors because it shows a large, sophisticated investor maintains a substantial position, which can signal confidence in the company's future, but also means any future changes in their stake could impact stock price.

Why It Matters

This filing confirms a major institutional investor, Dimensional Fund Advisors LP, continues to hold a significant portion of Covenant Logistics Group Inc. stock, which can influence market perception and liquidity.

Risk Assessment

Risk Level: low — This filing is an update from a passive institutional investor, indicating a stable, long-term holding rather than an aggressive or activist position.

Analyst Insight

A smart investor would note the continued significant institutional ownership by Dimensional Fund Advisors LP, suggesting a stable, long-term investment by a major fund. While not an activist position, it provides a baseline of institutional confidence. Investors should monitor future 13G/A filings for any significant changes in their stake, which could signal a shift in their outlook.

Key Numbers

• 3,044,784 — Shares Beneficially Owned (Represents the total number of Common Stock shares held by Dimensional Fund Advisors LP.)
• 18.2% — Percentage of Class (Indicates the significant portion of Covenant Logistics Group Inc. owned by Dimensional Fund Advisors LP.)
• December 29, 2023 — Event Date (The specific date on which the ownership stake was calculated for this filing.)

Key Players & Entities

• Dimensional Fund Advisors LP (company) — the reporting person and institutional investor
• Covenant Logistics Group Inc (company) — the issuer whose securities are being reported
• December 29, 2023 (date) — the date of the event requiring this filing
• 3,044,784 (dollar_amount) — the number of shares beneficially owned by Dimensional Fund Advisors LP
• 18.2% (dollar_amount) — the percentage of the class of securities beneficially owned

Forward-Looking Statements

• Dimensional Fund Advisors LP will maintain a significant, passive stake in Covenant Logistics Group Inc. for the foreseeable future. (Dimensional Fund Advisors LP) — high confidence, target: December 29, 2024

FAQ

Filing Documents

• SEC13G_Filing.htm (SC 13G/A) — 17KB
• 0000354204-24-002962.txt ( ) — 19KB

From the Filing

SC 13G/A 1 SEC13G_Filing.htm SEC SCHEDULE 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 24 ) * Covenant Logistics Group Inc (Name of Issuer) Common Stock (Title of Class of Securities) 22284P105 (CUSIP Number) December 29, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 (the "Act") or otherwise subject to the liabilities of that section of the Act, but shall be subject to all other provisions of the Act (however, see the Notes.) CUSIP No. 22284P105 1. NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Dimensional Fund Advisors LP 30-0447847 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [X] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware Limited Partnership NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 777,673 ** see Note 1 ** 6. SHARED VOTING POWER 0 7. SOLE DISPOSITIVE POWER 785,872 ** see Note 1 ** 8. SHARED DISPOSITIVE POWER 0 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 785,872 ** see Note 1 ** 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 7.4% 12. TYPE OF REPORTING PERSON IA Item 1. (a) Name of Issuer Covenant Logistics Group Inc (b) Address of Issuer's Principal Executive Offices 400 Birmingham Highway, Chattanooga, TN 37419 Item 2. (a) Name of Person Filing Dimensional Fund Advisors LP (b) Address of Principal Business Office or, if None, Residence 6300 Bee Cave Road, Building One, Austin, TX 78746 (c) Citizenship Delaware Limited Partnership (d) Title of Class of Securities Common Stock (e) CUSIP Number 22284P105 Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a: (a) [ ] Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o). (b) [ ] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c). (c) [ ] Insurance Company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c). (d) [ ] Investment Company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). (e) [X] An investment adviser in accordance with Rule 240.13d-1(b)(1)(ii)(E); (f) [ ] An employee benefit plan or endowment fund in accordance with Rule 240.13d-1(b)(1)(ii)(F); (g) [ ] A parent holding company or control person in accordance with Rule 240.13d-1(b)(1)(ii)(G); (h) [ ] A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) [ ] A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) [ ] Group, in accordance with Rule 240.13d-1(b)(1)(ii)(J). Item 4. Ownership. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount Beneficially Owned: 785,872 ** see Note 1 ** (b) Percent of Class: 7.4% (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote 777,673 ** see Note 1 ** (ii) shared power to vote or to direct the vote 0 (iii) sole power to dispose or to direct the disposition of 785,872 ** see Note 1 ** (iv) shared power to dispose or to direct the disposition of 0 ** Note 1 ** Dimensional Fund Advisors LP, an investment adviser registered under Section 203 of the Investment Advisors Act of 1940, furnishes investment advice to four investment companies registered under the Investment Company Act of 1940, and serves as investment manager or sub-adviser to certain other commingled funds, group trusts and separate accounts (such investment companies, trusts and accounts, collectively referred to as the "Funds"). In certain cases, subsidiaries of Dimensional Fund Advisors LP may act as an adviser or sub-adviser to certain Funds. In its role as investment advisor, sub-adviser and/or manager, Dimensional Fund Advisors LP or its subsidiaries (collectively, "Dimensional") may possess voting and/or investment power over the securities of the Issuer that are owned by the Funds, and may be deem