Radiant Logistics (NYSEAMERICAN:RLGT) Cut to Hold at StockNews.com

StockNews.com lowered shares of Radiant Logistics (NYSEAMERICAN:RLGT) from a buy rating to a hold rating in a research report sent to investors on Tuesday.

Radiant Logistics Trading Down 1.0 %

Shares of Radiant Logistics stock opened at $4.93 on Tuesday. The firm has a market cap of $231.32 million, a PE ratio of 23.48 and a beta of 0.79. Radiant Logistics has a 12-month low of $4.91 and a 12-month high of $7.76.

Radiant Logistics (NYSEAMERICAN:RLGT) last announced its earnings results on Thursday, February 8th. The company reported $0.11 earnings per share (EPS) for the quarter. The company had revenue of $201.08 million for the quarter. Radiant Logistics had a return on equity of 12.94% and a net margin of 1.23%.

Insider Activity at Radiant Logistics

In related news, insider Arnold Goldstein sold 12,404 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $5.53, for a total transaction of $68,594.12. Following the transaction, the insider now directly owns 10,584 shares of the company’s stock, valued at $58,529.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 24.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of RLGT. JPMorgan Chase & Co. grew its stake in Radiant Logistics by 73.5% in the first quarter. JPMorgan Chase & Co. now owns 211,095 shares of the company’s stock valued at $1,345,000 after purchasing an additional 89,398 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Radiant Logistics by 2.3% in the first quarter. Bank of New York Mellon Corp now owns 177,899 shares of the company’s stock valued at $1,133,000 after purchasing an additional 4,084 shares in the last quarter. Citigroup Inc. boosted its stake in shares of Radiant Logistics by 51.5% during the 1st quarter. Citigroup Inc. now owns 15,284 shares of the company’s stock worth $97,000 after acquiring an additional 5,193 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of Radiant Logistics during the 1st quarter worth about $143,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Radiant Logistics during the 1st quarter worth about $1,137,000. Hedge funds and other institutional investors own 53.59% of the company’s stock.

About Radiant Logistics

Radiant Logistics, Inc, a third-party logistics company, provides technology-enabled global transportation and value-added logistics solutions primarily in the United States and Canada. The company offers domestic, international air, and ocean freight forwarding services; and freight brokerage services, including truckload and intermodal services.