Radiant Logistics (NYSEAMERICAN:RLGT) Releases Earnings Results, Beats Estimates By $0.07 EPS

Radiant Logistics (NYSEAMERICAN:RLGT) issued its quarterly earnings data on Monday. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.07, FiscalAI reports. Radiant Logistics had a net margin of 1.57% and a return on equity of 11.05%.

Radiant Logistics Trading Down 4.6%

Shares of Radiant Logistics stock traded down $0.38 during mid-day trading on Monday, hitting $7.89. 397,600 shares of the stock were exchanged, compared to its average volume of 156,113. The stock has a market capitalization of $369.49 million, a price-to-earnings ratio of 27.21 and a beta of 0.82. Radiant Logistics has a twelve month low of $5.78 and a twelve month high of $8.67. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.13. The company has a 50-day simple moving average of $7.55 and a 200 day simple moving average of $6.90.

Insider Activity

In related news, CFO Todd Macomber sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $7.00, for a total transaction 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 represents a 4.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 24.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. XTX Topco Ltd lifted its stake in shares of Radiant Logistics by 82.5% during the 4th quarter. XTX Topco Ltd now owns 26,707 shares of the company’s stock worth $169,000 after purchasing an additional 12,073 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in Radiant Logistics in the fourth quarter valued at $115,000. Occudo Quantitative Strategies LP increased its stake in Radiant Logistics by 100.4% in the fourth quarter. Occudo Quantitative Strategies LP now owns 20,553 shares of the company’s stock valued at $130,000 after purchasing an additional 10,295 shares during the last quarter. Oxford Asset Management LLP purchased a new position in Radiant Logistics during the fourth quarter worth about $67,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position in Radiant Logistics during the fourth quarter worth about $82,000. 53.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RLGT. Lake Street Capital reiterated a “buy” rating and set a $9.00 target price on shares of Radiant Logistics in a report on Wednesday, February 11th. TD Cowen reissued a “buy” rating on shares of Radiant Logistics in a report on Tuesday, February 10th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, Radiant Logistics currently has an average rating of “Buy” and a consensus price target of $9.00.

Radiant Logistics Company Profile

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.