Radiant Logistics (NYSEAMERICAN:RLGT) Posts Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Radiant Logistics (NYSEAMERICAN:RLGT) issued its earnings results on Monday. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.07, FiscalAI reports. Radiant Logistics had a net margin of 1.57% and a return on equity of 11.05%.

Radiant Logistics Price Performance

Radiant Logistics stock traded down $0.38 during mid-day trading on Monday, reaching $7.89. The company had a trading volume of 397,600 shares, compared to its average volume of 156,113. The stock’s 50-day simple moving average is $7.55 and its 200-day simple moving average is $6.90. Radiant Logistics has a 1 year low of $5.78 and a 1 year high of $8.67. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.59 and a quick ratio of 1.59. The company has a market capitalization of $369.49 million, a P/E ratio of 27.21 and a beta of 0.82.

Insider Activity at Radiant Logistics

In related news, CFO Todd Macomber sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $7.00, for a total value of $52,500.00. Following the sale, the chief financial officer owned 162,249 shares in the company, valued at $1,135,743. This represents a 4.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 24.30% of the stock is owned by company insiders.

Institutional Trading of Radiant Logistics

A number of institutional investors have recently bought and sold shares of RLGT. Ameriprise Financial Inc. grew its holdings in Radiant Logistics by 12.4% in the third quarter. Ameriprise Financial Inc. now owns 1,346,699 shares of the company’s stock valued at $7,946,000 after purchasing an additional 148,381 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Radiant Logistics by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 834,390 shares of the company’s stock worth $5,283,000 after buying an additional 24,150 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Radiant Logistics by 4.3% in the 4th quarter. Russell Investments Group Ltd. now owns 594,532 shares of the company’s stock valued at $3,763,000 after acquiring an additional 24,506 shares during the last quarter. Bank of America Corp DE grew its stake in Radiant Logistics by 24.2% in the 2nd quarter. Bank of America Corp DE now owns 449,471 shares of the company’s stock valued at $2,733,000 after acquiring an additional 87,436 shares during the last quarter. Finally, Empowered Funds LLC increased its holdings in Radiant Logistics by 7.5% during the 1st quarter. Empowered Funds LLC now owns 232,046 shares of the company’s stock valued at $1,427,000 after acquiring an additional 16,141 shares in the last quarter. 53.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RLGT has been the subject of a number of analyst reports. TD Cowen reissued a “buy” rating on shares of Radiant Logistics in a research note on Tuesday, February 10th. Lake Street Capital reiterated a “buy” rating and issued a $9.00 price objective on shares of Radiant Logistics in a research report on Wednesday, February 11th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $9.00.

About Radiant Logistics

Radiant Logistics, Inc, through its subsidiaries, is a third-party logistics (3PL) provider offering freight brokerage, managed transportation, contract logistics and supply chain solutions. The company arranges full-truckload (FTL), less-than-truckload (LTL), intermodal, ocean and air freight across multiple geographies. Radiant also provides customs brokerage, trade compliance services and warehousing support, serving industries such as manufacturing, retail, energy and automotive.

Founded in 2005 and headquartered in Green Bay, Wisconsin, Radiant Logistics has grown its network of client-facing offices throughout North America, with additional service centers in Europe and the Asia Pacific region.