Radiant Logistics, Inc. $RLGT Position Raised by Royce & Associates LP

Royce & Associates LP raised its stake in Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) by 5.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,274,423 shares of the company’s stock after buying an additional 113,720 shares during the quarter. Royce & Associates LP’s holdings in Radiant Logistics were worth $14,397,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in RLGT. AQR Capital Management LLC lifted its stake in Radiant Logistics by 16.7% in the first quarter. AQR Capital Management LLC now owns 34,738 shares of the company’s stock valued at $214,000 after buying an additional 4,982 shares during the last quarter. Integrated Wealth Concepts LLC lifted its stake in Radiant Logistics by 165.6% in the first quarter. Integrated Wealth Concepts LLC now owns 32,517 shares of the company’s stock valued at $200,000 after buying an additional 20,272 shares during the last quarter. NewEdge Advisors LLC bought a new stake in Radiant Logistics in the first quarter valued at $89,000. Empowered Funds LLC lifted its stake in Radiant Logistics by 7.5% in the first quarter. Empowered Funds LLC now owns 232,046 shares of the company’s stock valued at $1,427,000 after buying an additional 16,141 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in Radiant Logistics in the first quarter valued at $587,000. 53.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RLGT has been the topic of a number of recent analyst reports. TD Cowen restated a “buy” rating on shares of Radiant Logistics in a research note on Tuesday, February 10th. Lake Street Capital restated a “buy” rating and set a $9.00 price objective on shares of Radiant Logistics in a research note on Wednesday, February 11th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $9.00.

Insiders Place Their Bets

In related news, CFO Todd Macomber sold 7,500 shares of Radiant Logistics stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $7.00, for a total value of $52,500.00. Following the transaction, the chief financial officer owned 162,249 shares of the company’s stock, valued at approximately $1,135,743. This trade represents a 4.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 24.30% of the company’s stock.

Radiant Logistics Price Performance

NYSEAMERICAN:RLGT opened at $8.43 on Wednesday. The business’s 50-day moving average price is $7.83 and its 200 day moving average price is $7.11. The firm has a market cap of $394.78 million, a P/E ratio of 24.79 and a beta of 0.82. Radiant Logistics, Inc. has a 52-week low of $5.78 and a 52-week high of $8.73. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.11.

Radiant Logistics (NYSEAMERICAN:RLGT) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. The firm had revenue of $214.14 million for the quarter, compared to analysts’ expectations of $222.60 million. Radiant Logistics had a return on equity of 10.19% and a net margin of 1.81%.

Radiant Logistics Profile

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.