Radiant Logistics (NYSEAMERICAN:RLGT) Shares Pass Below 50 Day Moving Average – Time to Sell?

Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $8.99 and traded as low as $8.32. Radiant Logistics shares last traded at $8.43, with a volume of 111,695 shares.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RLGT. Citigroup began coverage on shares of Radiant Logistics in a research report on Wednesday, July 15th. They set a “market perform” rating for the company. Lake Street Capital increased their price objective on Radiant Logistics from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. Finally, Citizens Jmp initiated coverage on Radiant Logistics in a research note on Wednesday, July 15th. They set a “market perform” rating for the company. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

Radiant Logistics Stock Performance

The company’s 50-day moving average is $8.99 and its two-hundred day moving average is $8.06. The company has a market capitalization of $395.25 million, a P/E ratio of 24.82 and a beta of 0.83. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.11.

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

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 of the company’s stock, valued at approximately $807,053.25. The trade was a 11.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 24.30% of the company’s stock.

Institutional Investors Weigh In On Radiant Logistics

A number of large investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its holdings in shares of Radiant Logistics by 16.7% in the 1st quarter. AQR Capital Management LLC now owns 34,738 shares of the company’s stock worth $214,000 after purchasing an additional 4,982 shares in the last quarter. Integrated Wealth Concepts LLC raised its holdings in shares of Radiant Logistics by 165.6% during the 1st quarter. Integrated Wealth Concepts LLC now owns 32,517 shares of the company’s stock valued at $200,000 after buying an additional 20,272 shares in the last quarter. NewEdge Advisors LLC purchased a new position in shares of Radiant Logistics during the 1st quarter valued at about $89,000. Empowered Funds LLC raised its holdings in shares of Radiant Logistics by 7.5% during the 1st quarter. Empowered Funds LLC now owns 232,046 shares of the company’s stock valued at $1,427,000 after buying an additional 16,141 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in Radiant Logistics in the 1st quarter worth approximately $587,000. Hedge funds and other institutional investors own 53.59% of the company’s stock.

Radiant Logistics Company Profile

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.