Sei Investments Co. purchased a new position in shares of Radiant Logistics, Inc. (NYSEAMERICAN:RLGT – Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 133,692 shares of the company’s stock, valued at approximately $943,000.
Other large investors also recently modified their holdings of the company. Janney Montgomery Scott LLC raised its holdings in shares of Radiant Logistics by 2.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 76,049 shares of the company’s stock valued at $536,000 after purchasing an additional 1,684 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of Radiant Logistics by 12.6% during the second quarter. NewEdge Advisors LLC now owns 16,375 shares of the company’s stock worth $100,000 after purchasing an additional 1,833 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Radiant Logistics by 2.8% during the first quarter. Bank of New York Mellon Corp now owns 115,948 shares of the company’s stock worth $817,000 after purchasing an additional 3,150 shares in the last quarter. Rhumbline Advisers increased its holdings in Radiant Logistics by 6.0% in the second quarter. Rhumbline Advisers now owns 56,821 shares of the company’s stock valued at $345,000 after buying an additional 3,198 shares during the last quarter. Finally, Integrated Wealth Concepts LLC increased its holdings in Radiant Logistics by 9.1% in the third quarter. Integrated Wealth Concepts LLC now owns 41,044 shares of the company’s stock valued at $242,000 after buying an additional 3,420 shares during the last quarter. 53.59% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of analysts have weighed in on RLGT shares. Citigroup assumed coverage on Radiant Logistics in a research note on Wednesday, July 15th. They issued a “market perform” rating on the stock. Lake Street Capital increased their price objective on Radiant Logistics from $10.00 to $12.00 and gave the company a “buy” rating in a report on Monday, June 8th. Finally, Citizens Jmp assumed coverage on Radiant Logistics in a research report on Wednesday, July 15th. They set a “market perform” rating on the stock. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $12.00.
Radiant Logistics Trading Up 2.5%
NYSEAMERICAN RLGT opened at $8.55 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.59 and a quick ratio of 1.59. The firm’s fifty day moving average price is $8.98 and its 200 day moving average price is $8.11. The company has a market capitalization of $400.40 million, a price-to-earnings ratio of 25.15 and a beta of 0.83. Radiant Logistics, Inc. has a 12 month low of $5.78 and a 12 month high of $9.68.
Radiant Logistics (NYSEAMERICAN:RLGT – Get Free Report) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.06 by $0.05. Radiant Logistics had a net margin of 1.81% and a return on equity of 10.19%. The firm had revenue of $214.13 million for the quarter, compared to analyst estimates of $222.60 million.
Insider Activity
In other Radiant Logistics news, CFO Todd Macomber sold 11,868 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $9.25, for a total transaction of $109,779.00. Following the transaction, the chief financial officer owned 87,249 shares of the company’s stock, valued at approximately $807,053.25. This trade represents a 11.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 24.30% of the company’s stock.
Radiant Logistics Company 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.
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