Raymond James Financial Services Advisors Inc. acquired a new stake in Radiant Logistics Inc (NYSEAMERICAN:RLGT) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 63,460 shares of the company’s stock, valued at approximately $292,000. Raymond James Financial Services Advisors Inc. owned approximately 0.13% of Radiant Logistics at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. The Manufacturers Life Insurance Company grew its stake in shares of Radiant Logistics by 1.6% in the second quarter. The Manufacturers Life Insurance Company now owns 31,970 shares of the company’s stock valued at $172,000 after buying an additional 489 shares in the last quarter. Voya Investment Management LLC grew its stake in shares of Radiant Logistics by 15.3% in the second quarter. Voya Investment Management LLC now owns 27,418 shares of the company’s stock valued at $148,000 after buying an additional 3,640 shares in the last quarter. Cornerstone Capital Management Holdings LLC. grew its stake in shares of Radiant Logistics by 33.5% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 44,200 shares of the company’s stock valued at $233,000 after buying an additional 11,100 shares in the last quarter. BB&T Securities LLC grew its stake in shares of Radiant Logistics by 30.3% in the third quarter. BB&T Securities LLC now owns 61,096 shares of the company’s stock valued at $324,000 after buying an additional 14,200 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in shares of Radiant Logistics by 22.4% in the third quarter. Schwab Charles Investment Management Inc. now owns 82,934 shares of the company’s stock valued at $441,000 after buying an additional 15,180 shares in the last quarter. 39.47% of the stock is owned by institutional investors and hedge funds.
Shares of Radiant Logistics Inc (RLGT) opened at $4.18 on Tuesday. The stock has a market capitalization of $190.99, a PE ratio of 418.00 and a beta of 0.79. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31. Radiant Logistics Inc has a fifty-two week low of $3.51 and a fifty-two week high of $6.65.
Radiant Logistics (NYSEAMERICAN:RLGT) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.02. The company had revenue of $206.70 million during the quarter, compared to the consensus estimate of $208.32 million. Radiant Logistics had a return on equity of 3.29% and a net margin of 0.77%. Radiant Logistics’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.11 EPS. sell-side analysts predict that Radiant Logistics Inc will post 0.27 earnings per share for the current fiscal year.
Radiant Logistics announced that its board has authorized a stock buyback plan on Tuesday, March 13th that permits the company to repurchase 5,000,000 shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.
A number of brokerages have recently weighed in on RLGT. Zacks Investment Research raised Radiant Logistics from a “sell” rating to a “hold” rating in a research note on Tuesday, December 5th. Cowen lowered their target price on Radiant Logistics from $6.00 to $5.00 and set an “outperform” rating for the company in a research note on Thursday, February 22nd.
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Radiant Logistics Profile
Radiant Logistics, Inc operates as a third-party logistics company, providing multi-modal transportation and logistics services. The Company is organized in two geographic operating segments: United States and Canada. Its transportation services for both the United States and Canada segments are placed into categories of freight forwarding and freight brokerage services.
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