Radiant Logistics (NYSEAMERICAN:RLGT) Stock Rating Lowered by StockNews.com

by · The Cerbat Gem

StockNews.com lowered shares of Radiant Logistics (NYSEAMERICAN:RLGT – Free Report) from a buy rating to a hold rating in a research report report published on Wednesday morning.

Radiant Logistics Price Performance

Radiant Logistics stock opened at $5.20 on Wednesday. The stock has a market capitalization of $243.98 million, a price-to-earnings ratio of 24.76 and a beta of 0.79. Radiant Logistics has a 1 year low of $5.12 and a 1 year high of $7.76.

Radiant Logistics (NYSEAMERICAN:RLGT – Get Free Report) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.11 EPS for the quarter. Radiant Logistics had a return on equity of 12.94% and a net margin of 1.23%. The company had revenue of $201.08 million for the quarter.

Insider Activity at Radiant Logistics

In other news, insider Arnold Goldstein sold 12,404 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $5.53, for a total value of $68,594.12. Following the sale, the insider now directly owns 10,584 shares in the company, valued at approximately $58,529.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 24.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Radiant Logistics

Several hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its holdings in shares of Radiant Logistics by 73.5% during the first quarter. JPMorgan Chase & Co. now owns 211,095 shares of the company’s stock valued at $1,345,000 after buying an additional 89,398 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Radiant Logistics by 2.3% in the first quarter. Bank of New York Mellon Corp now owns 177,899 shares of the company’s stock valued at $1,133,000 after purchasing an additional 4,084 shares during the period. Citigroup Inc. increased its holdings in shares of Radiant Logistics by 51.5% in the first quarter. Citigroup Inc. now owns 15,284 shares of the company’s stock valued at $97,000 after purchasing an additional 5,193 shares during the period. Bank of Montreal Can purchased a new position in shares of Radiant Logistics in the first quarter worth about $143,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Radiant Logistics in the first quarter worth about $1,137,000. Institutional investors and hedge funds own 53.59% of the company’s stock.

Radiant Logistics Company Profile

(Get Free Report)

Radiant Logistics, Inc, a third-party logistics company, provides technology-enabled global transportation and value-added logistics solutions primarily in the United States and Canada. The company offers domestic, international air, and ocean freight forwarding services; and freight brokerage services, including truckload and intermodal services.

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