Radiant Logistics (NYSEAMERICAN:RLGT) Stock Price Up 1.5% – Here’s What Happened

Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) shares rose 1.5% during trading on Monday . The company traded as high as $6.64 and last traded at $6.57. Approximately 173,537 shares changed hands during trading, an increase of 6% from the average daily volume of 163,329 shares. The stock had previously closed at $6.47.

Wall Street Analyst Weigh In

Separately, Lake Street Capital decreased their price objective on Radiant Logistics from $10.00 to $8.00 and set a “buy” rating on the stock 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 a consensus target price of $8.00.

Radiant Logistics Stock Performance

The stock has a market cap of $303.93 million, a price-to-earnings ratio of 20.94 and a beta of 0.73. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.14. The company has a 50 day simple moving average of $6.23 and a 200 day simple moving average of $6.16.

Radiant Logistics (NYSEAMERICAN:RLGT) last released its quarterly earnings data on Monday, November 10th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01. Radiant Logistics had a return on equity of 12.43% and a net margin of 1.64%.The company had revenue of $226.66 million during the quarter, compared to the consensus estimate of $206.64 million.

Institutional Investors Weigh In On Radiant Logistics

A number of institutional investors and hedge funds have recently made changes to their positions in RLGT. Quarry LP bought a new stake in shares of Radiant Logistics during the 1st quarter worth $56,000. Jump Financial LLC purchased a new stake in Radiant Logistics during the 1st quarter worth about $69,000. BNP Paribas Financial Markets boosted its position in shares of Radiant Logistics by 45.4% in the third quarter. BNP Paribas Financial Markets now owns 12,822 shares of the company’s stock valued at $76,000 after acquiring an additional 4,001 shares during the period. Public Employees Retirement System of Ohio increased its holdings in shares of Radiant Logistics by 78.4% in the second quarter. Public Employees Retirement System of Ohio now owns 13,729 shares of the company’s stock worth $83,000 after purchasing an additional 6,032 shares during the period. Finally, Boothbay Fund Management LLC increased its stake in Radiant Logistics by 33.3% in the 2nd quarter. Boothbay Fund Management LLC now owns 14,306 shares of the company’s stock worth $87,000 after acquiring an additional 3,572 shares during the last quarter. Institutional investors and hedge funds 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.