Radiant Logistics (NYSEAMERICAN:RLGT) Stock Rating Upgraded by StockNews.com

Radiant Logistics (NYSEAMERICAN:RLGT) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

Radiant Logistics Stock Performance

RLGT opened at $5.14 on Thursday. Radiant Logistics has a 1-year low of $4.84 and a 1-year high of $7.76. The company has a market capitalization of $241.17 million, a price-to-earnings ratio of 24.48 and a beta of 0.80.

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

Insider Activity at Radiant Logistics

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

Institutional Trading of Radiant Logistics

Several institutional investors have recently made changes to their positions in RLGT. SG Americas Securities LLC purchased a new position in Radiant Logistics during the third quarter valued at $96,000. Bank of New York Mellon Corp grew its position in shares of Radiant Logistics by 2.0% during the third quarter. Bank of New York Mellon Corp now owns 148,599 shares of the company’s stock valued at $840,000 after purchasing an additional 2,935 shares in the last quarter. Hennion & Walsh Asset Management Inc. bought a new stake in shares of Radiant Logistics in the third quarter worth about $130,000. CM Management LLC lifted its position in shares of Radiant Logistics by 3.3% in the third quarter. CM Management LLC now owns 620,000 shares of the company’s stock worth $3,503,000 after buying an additional 20,000 shares in the last quarter. Finally, First Eagle Investment Management LLC boosted its stake in Radiant Logistics by 34.4% during the third quarter. First Eagle Investment Management LLC now owns 406,452 shares of the company’s stock valued at $2,296,000 after buying an additional 103,960 shares during the last quarter. Hedge funds and other institutional investors own 53.59% of the company’s stock.

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.