Radiant Logistics (NYSEAMERICAN:RLGT) Downgraded by StockNews.com to Hold

StockNews.com cut shares of Radiant Logistics (NYSEAMERICAN:RLGT) from a buy rating to a hold rating in a report published on Wednesday morning.

Radiant Logistics Trading Down 1.0 %

Radiant Logistics stock opened at $5.20 on Wednesday. Radiant Logistics has a fifty-two week low of $5.12 and a fifty-two week high of $7.76. The stock has a market cap of $243.98 million, a price-to-earnings ratio of 24.76 and a beta of 0.79.

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

Insiders Place Their Bets

In other Radiant Logistics news, insider Arnold Goldstein sold 12,404 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now owns 10,584 shares of the company’s stock, valued at $58,529.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 24.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Radiant Logistics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Covestor Ltd acquired a new stake in Radiant Logistics during the first quarter worth $36,000. Tower Research Capital LLC TRC increased its stake in Radiant Logistics by 33.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,223 shares of the company’s stock worth $55,000 after acquiring an additional 2,043 shares during the last quarter. Shay Capital LLC acquired a new stake in Radiant Logistics during the first quarter worth $64,000. Citigroup Inc. increased its stake in Radiant Logistics by 370,333.3% during the second quarter. Citigroup Inc. now owns 11,113 shares of the company’s stock worth $75,000 after acquiring an additional 11,110 shares during the last quarter. Finally, American Century Companies Inc. acquired a new stake in Radiant Logistics during the fourth quarter worth $57,000. Institutional investors and hedge funds 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.