Radiant Logistics, Inc. (NYSEAMERICAN:RLGT – Get Free Report)’s stock price passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $8.96 and traded as low as $8.53. Radiant Logistics shares last traded at $8.65, with a volume of 90,453 shares.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on RLGT shares. Citigroup began coverage on Radiant Logistics in a report on Wednesday, July 15th. They issued a “market perform” rating for the company. Citizens Jmp initiated coverage on Radiant Logistics in a research report on Wednesday, July 15th. They issued a “market perform” rating on the stock. Finally, Lake Street Capital boosted their price target on Radiant Logistics from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Monday, June 8th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $12.00.
Read Our Latest Analysis on RLGT
Radiant Logistics Price Performance
Insiders Place Their Bets
In related 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 value of $109,779.00. Following the sale, the chief financial officer directly owned 87,249 shares of the company’s stock, valued at $807,053.25. This trade represents a 11.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 24.30% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc bought a new stake in shares of Radiant Logistics during the 2nd quarter valued at approximately $36,000. Oxford Asset Management LLP bought a new position in Radiant Logistics in the 4th quarter valued at approximately $67,000. Ritholtz Wealth Management acquired a new stake in Radiant Logistics in the first quarter valued at approximately $77,000. Williams & Novak LLC acquired a new stake in Radiant Logistics in the fourth quarter valued at approximately $78,000. Finally, BNP Paribas Financial Markets grew its stake in shares of Radiant Logistics by 45.4% during the third quarter. BNP Paribas Financial Markets now owns 12,822 shares of the company’s stock worth $76,000 after buying an additional 4,001 shares during 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.
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