Radiant Logistics (NYSEAMERICAN:RLGT) CFO Sells $52,500.00 in Stock

Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) CFO Todd Macomber sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $7.00, for a total transaction of $52,500.00. Following the completion of the sale, the chief financial officer directly owned 162,249 shares of the company’s stock, valued at $1,135,743. The trade was a 4.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Radiant Logistics Trading Up 1.1%

RLGT traded up $0.08 during mid-day trading on Thursday, hitting $7.27. The stock had a trading volume of 87,260 shares, compared to its average volume of 157,376. The stock’s fifty day simple moving average is $7.13 and its 200-day simple moving average is $6.56. The firm has a market capitalization of $340.45 million, a price-to-earnings ratio of 25.07 and a beta of 0.70. Radiant Logistics, Inc. has a 1-year low of $5.44 and a 1-year high of $8.50. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.59 and a quick ratio of 1.59.

Radiant Logistics (NYSEAMERICAN:RLGT) last announced its quarterly earnings results on Monday, February 9th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.08. Radiant Logistics had a net margin of 1.57% and a return on equity of 11.05%. The company had revenue of $232.13 million during the quarter, compared to analyst estimates of $242.08 million.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on RLGT shares. TD Cowen restated a “buy” rating on shares of Radiant Logistics in a report on Tuesday, February 10th. Lake Street Capital reiterated a “buy” rating and set a $9.00 price objective on shares of Radiant Logistics in a report on Wednesday, February 11th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Radiant Logistics currently has a consensus rating of “Buy” and a consensus target price of $9.00.

Institutional Investors Weigh In On Radiant Logistics

Several large investors have recently made changes to their positions in RLGT. Royce & Associates LP raised its holdings in shares of Radiant Logistics by 5.3% during the fourth quarter. Royce & Associates LP now owns 2,274,423 shares of the company’s stock worth $14,397,000 after acquiring an additional 113,720 shares during the period. Ameriprise Financial Inc. lifted its position in Radiant Logistics by 12.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,346,699 shares of the company’s stock valued at $7,946,000 after acquiring an additional 148,381 shares in the last quarter. Geode Capital Management LLC boosted its stake in 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 purchasing an additional 24,150 shares during the period. Russell Investments Group Ltd. boosted 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 worth $3,763,000 after purchasing an additional 24,506 shares during the period. Finally, Bank of America Corp DE increased its holdings in Radiant Logistics by 24.2% during the 2nd quarter. Bank of America Corp DE now owns 449,471 shares of the company’s stock worth $2,733,000 after purchasing an additional 87,436 shares in the last quarter. Institutional investors own 53.59% of the company’s stock.

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.