Insider Selling: Radiant Logistics (NYSEAMERICAN:RLGT) CFO Sells $52,500.00 in Stock

Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) CFO Todd Macomber sold 7,500 shares of the stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $7.00, for a total value of $52,500.00. Following the transaction, the chief financial officer owned 162,249 shares of the company’s stock, valued at approximately $1,135,743. This trade represents a 4.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Radiant Logistics Stock Performance

RLGT opened at $7.27 on Friday. The company has a market capitalization of $340.45 million, a price-to-earnings ratio of 25.07 and a beta of 0.70. The business’s 50-day moving average price is $7.16 and its two-hundred day moving average price is $6.57. Radiant Logistics, Inc. has a 1 year low of $5.44 and a 1 year high of $8.50. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.59 and a quick ratio of 1.59.

Radiant Logistics (NYSEAMERICAN:RLGT) last posted its quarterly earnings data on Monday, February 9th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.08. The company had revenue of $232.13 million during the quarter, compared to analysts’ expectations of $242.08 million. Radiant Logistics had a return on equity of 11.05% and a net margin of 1.57%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Oxford Asset Management LLP acquired a new position in shares of Radiant Logistics during the 4th quarter worth approximately $67,000. BNP Paribas Financial Markets grew its stake in shares of Radiant Logistics by 45.4% in the third quarter. BNP Paribas Financial Markets now owns 12,822 shares of the company’s stock valued at $76,000 after acquiring an additional 4,001 shares in the last quarter. Williams & Novak LLC acquired a new position in Radiant Logistics in the 4th quarter valued at $78,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Radiant Logistics in the 4th quarter valued at approximately $82,000. Finally, Boothbay Fund Management LLC raised its holdings in shares of Radiant Logistics by 33.3% during the 2nd 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 in the last quarter. 53.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Lake Street Capital reiterated a “buy” rating and issued a $9.00 price objective on shares of Radiant Logistics in a report on Wednesday, February 11th. TD Cowen restated a “buy” rating on shares of Radiant Logistics in a report on Tuesday, February 10th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $9.00.

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.