Radiant Logistics (NYSEAMERICAN:RLGT) Research Coverage Started at Citizens Jmp

Citizens Jmp assumed coverage on shares of Radiant Logistics (NYSEAMERICAN:RLGT) in a report published on Wednesday morning, MarketBeat.com reports. The firm issued a market perform rating on the stock.

Several other research analysts also recently issued reports on the company. Citigroup began coverage on Radiant Logistics in a research note on Wednesday. They set a “market perform” rating for the company. Lake Street Capital increased their price objective on shares of Radiant Logistics from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Monday, June 8th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $12.00.

Radiant Logistics Stock Performance

Shares of RLGT stock opened at $9.21 on Wednesday. The stock has a fifty day moving average price of $8.90 and a 200 day moving average price of $7.84. The stock has a market cap of $431.30 million, a PE ratio of 27.09 and a beta of 0.81. Radiant Logistics has a 1 year low of $5.78 and a 1 year high of $9.68. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.59 and a current ratio of 1.59.

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

Insider Transactions at Radiant Logistics

In other Radiant Logistics news, CFO Todd Macomber sold 11,868 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $9.25, for a total transaction of $109,779.00. Following the sale, the chief financial officer owned 87,249 shares in the company, valued at approximately $807,053.25. This represents a 11.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 24.30% of the company’s stock.

Hedge Funds Weigh In On Radiant Logistics

A number of institutional investors have recently made changes to their positions in RLGT. Rothschild Wealth LLC purchased a new stake in shares of Radiant Logistics during the fourth quarter worth about $1,808,000. North Star Investment Management Corp. acquired a new position in shares of Radiant Logistics in the first quarter valued at approximately $1,657,000. Russell Investments Group Ltd. lifted its stake in shares of Radiant Logistics by 54.5% during the third quarter. Russell Investments Group Ltd. now owns 570,026 shares of the company’s stock valued at $3,363,000 after buying an additional 200,994 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Radiant Logistics by 12.4% during the third quarter. Ameriprise Financial Inc. now owns 1,346,699 shares of the company’s stock valued at $7,946,000 after buying an additional 148,381 shares during the period. Finally, Sei Investments Co. acquired a new stake in Radiant Logistics during the first quarter worth approximately $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.