Radiant Logistics (NYSEAMERICAN:RLGT) Rating Lowered to Hold at StockNews.com

Radiant Logistics (NYSEAMERICAN:RLGT) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

Radiant Logistics Price Performance

RLGT opened at $5.07 on Tuesday. The firm has a market cap of $237.88 million, a P/E ratio of 24.14 and a beta of 0.79. Radiant Logistics has a 52-week low of $5.05 and a 52-week high of $7.76.

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

Insider Buying and Selling at Radiant Logistics

In other news, insider Arnold Goldstein sold 12,404 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $5.53, for a total value of $68,594.12. Following the completion of the transaction, the insider now directly owns 10,584 shares of the company’s stock, valued at approximately $58,529.52. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 24.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its position in Radiant Logistics by 73.5% during the 1st quarter. JPMorgan Chase & Co. now owns 211,095 shares of the company’s stock valued at $1,345,000 after buying an additional 89,398 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Radiant Logistics by 2.3% during the 1st quarter. Bank of New York Mellon Corp now owns 177,899 shares of the company’s stock valued at $1,133,000 after purchasing an additional 4,084 shares during the last quarter. Citigroup Inc. grew its stake in Radiant Logistics by 51.5% during the 1st quarter. Citigroup Inc. now owns 15,284 shares of the company’s stock valued at $97,000 after purchasing an additional 5,193 shares during the last quarter. Bank of Montreal Can purchased a new stake in shares of Radiant Logistics in the first quarter worth about $143,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Radiant Logistics in the first quarter worth about $1,137,000. 53.59% of the stock is owned by institutional investors.

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.