Radiant Logistics (NYSEAMERICAN:RLGT) Issues Quarterly Earnings Results

Radiant Logistics (NYSEAMERICAN:RLGT) posted its quarterly earnings results on Monday. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01, FiscalAI reports. The business had revenue of $226.66 million during the quarter, compared to analyst estimates of $206.64 million. Radiant Logistics had a net margin of 1.92% and a return on equity of 14.20%.

Radiant Logistics Price Performance

Shares of NYSEAMERICAN RLGT opened at $6.06 on Wednesday. Radiant Logistics has a 1 year low of $5.44 and a 1 year high of $7.94. The stock has a market capitalization of $286.21 million, a P/E ratio of 17.31 and a beta of 0.78. The company’s 50-day moving average is $6.11 and its 200 day moving average is $6.09. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.56 and a quick ratio of 1.56.

Hedge Funds Weigh In On Radiant Logistics

A number of hedge funds have recently bought and sold shares of the company. Lazard Asset Management LLC lifted its holdings in shares of Radiant Logistics by 9,657.4% during the 2nd quarter. Lazard Asset Management LLC now owns 51,519 shares of the company’s stock valued at $313,000 after buying an additional 50,991 shares during the period. Engineers Gate Manager LP purchased a new position in shares of Radiant Logistics in the second quarter worth approximately $164,000. Boothbay Fund Management LLC grew its position in Radiant Logistics by 33.3% during the second quarter. Boothbay Fund Management LLC now owns 14,306 shares of the company’s stock valued at $87,000 after buying an additional 3,572 shares during the period. Bank of America Corp DE grew its position in Radiant Logistics by 24.2% during the second quarter. Bank of America Corp DE now owns 449,471 shares of the company’s stock valued at $2,733,000 after buying an additional 87,436 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in Radiant Logistics by 1.4% during the second quarter. Ameriprise Financial Inc. now owns 1,198,318 shares of the company’s stock valued at $7,286,000 after buying an additional 16,937 shares during the last quarter. Institutional investors own 53.59% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Lake Street Capital lowered their target price on Radiant Logistics from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, September 16th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $8.00.

Radiant Logistics Company Profile

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.