Radiant Logistics (NYSEAMERICAN:RLGT) Shares Up 1.5% – Here’s Why

Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) shares were up 1.5% during trading on Monday . The company traded as high as $6.64 and last traded at $6.57. Approximately 173,537 shares changed hands during mid-day trading, an increase of 6% from the average daily volume of 163,329 shares. The stock had previously closed at $6.47.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital lowered their target price on Radiant Logistics from $10.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, September 16th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $8.00.

Radiant Logistics Price Performance

The company’s 50 day moving average price is $6.22 and its 200-day moving average price is $6.15. The stock has a market cap of $307.94 million, a P/E ratio of 21.19 and a beta of 0.72. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.14.

Radiant Logistics (NYSEAMERICAN:RLGT) last issued its quarterly earnings data on Monday, November 10th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.01. The company had revenue of $226.66 million for the quarter, compared to analysts’ expectations of $206.64 million. Radiant Logistics had a net margin of 1.64% and a return on equity of 12.43%.

Institutional Investors Weigh In On Radiant Logistics

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP acquired a new position in shares of Radiant Logistics in the first quarter worth approximately $56,000. Jump Financial LLC acquired a new position in shares of Radiant Logistics in the 1st quarter worth approximately $69,000. BNP Paribas Financial Markets lifted its position in shares of Radiant Logistics by 45.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 12,822 shares of the company’s stock worth $76,000 after purchasing an additional 4,001 shares during the period. Public Employees Retirement System of Ohio boosted its stake in shares of Radiant Logistics by 78.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 13,729 shares of the company’s stock valued at $83,000 after purchasing an additional 6,032 shares during the last quarter. Finally, Boothbay Fund Management LLC increased its position in shares of Radiant Logistics by 33.3% during the second quarter. Boothbay Fund Management LLC now owns 14,306 shares of the company’s stock worth $87,000 after buying an additional 3,572 shares during the period. Institutional investors and hedge funds own 53.59% of the company’s stock.

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.