Radiant Logistics (NYSEAMERICAN:RLGT) Coverage Initiated by Analysts at Citizens Jmp

Research analysts at Citizens Jmp initiated coverage on shares of Radiant Logistics (NYSEAMERICAN:RLGT) in a report released on Wednesday. The brokerage set a “market perform” rating on the stock.

Several other brokerages also recently weighed in on RLGT. Lake Street Capital boosted their target price on Radiant Logistics from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. Citigroup started coverage on Radiant Logistics in a research note on Wednesday. They issued a “market perform” rating for the company. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Radiant Logistics currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.00.

Radiant Logistics Trading Down 0.3%

NYSEAMERICAN RLGT opened at $9.31 on Wednesday. Radiant Logistics has a 52 week low of $5.78 and a 52 week high of $9.68. The company has a 50 day moving average price of $8.84 and a 200 day moving average price of $7.79. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.11. The firm has a market cap of $435.99 million, a PE ratio of 27.38 and a beta of 0.81.

Radiant Logistics (NYSEAMERICAN:RLGT) last announced its earnings results on Monday, May 11th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.05. The company had revenue of $214.13 million during the quarter, compared to the consensus estimate of $222.60 million. Radiant Logistics had a net margin of 1.81% and a return on equity of 10.19%.

Insider Activity

In other news, CFO Todd Macomber sold 11,868 shares of Radiant Logistics stock in a transaction on Monday, June 15th. The shares were sold at an average price of $9.25, for a total transaction of $109,779.00. Following the completion of the sale, the chief financial officer directly owned 87,249 shares in the company, valued at approximately $807,053.25. The trade was a 11.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 24.30% of the company’s stock.

Hedge Funds Weigh In On Radiant Logistics

Several hedge funds have recently made changes to their positions in RLGT. Rothschild Wealth LLC acquired a new position in Radiant Logistics in the 4th quarter worth approximately $1,808,000. North Star Investment Management Corp. acquired a new stake in Radiant Logistics during the 1st quarter valued at approximately $1,657,000. Russell Investments Group Ltd. lifted its stake in Radiant Logistics by 54.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 570,026 shares of the company’s stock valued at $3,363,000 after acquiring an additional 200,994 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Radiant Logistics by 12.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,346,699 shares of the company’s stock valued at $7,946,000 after acquiring an additional 148,381 shares during the last quarter. Finally, Sei Investments Co. acquired a new stake in shares of Radiant Logistics in the first quarter worth $943,000. 53.59% of the stock is owned by institutional investors and hedge funds.

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.