Radiant Logistics (NYSEAMERICAN:RLGT) Stock Passes Below 50 Day Moving Average – Should You Sell?

Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) crossed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $8.90 and traded as low as $8.52. Radiant Logistics shares last traded at $8.54, with a volume of 192,702 shares.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on RLGT shares. Citigroup assumed coverage on Radiant Logistics in a report on Wednesday, July 15th. They issued a “market perform” rating on the stock. Citizens Jmp initiated coverage on Radiant Logistics in a report on Wednesday, July 15th. They set a “market perform” rating for the company. Finally, Lake Street Capital lifted their price objective on Radiant Logistics from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Monday, June 8th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $12.00.

Radiant Logistics Trading Down 1.5%

The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.11. The stock has a market cap of $382.37 million, a P/E ratio of 24.04 and a beta of 0.82. The business’s fifty day simple moving average is $8.88 and its 200 day simple moving average is $8.26.

Insider Buying and Selling at Radiant Logistics

In related news, CFO Todd Macomber sold 11,868 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $9.25, for a total value of $109,779.00. Following the completion of the transaction, the chief financial officer owned 87,249 shares in the company, valued at $807,053.25. The trade was a 11.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 24.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Radiant Logistics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Legal & General Group Plc acquired a new position in shares of Radiant Logistics during the second quarter valued at $36,000. California State Teachers Retirement System raised its holdings in Radiant Logistics by 142.8% during the 2nd quarter. California State Teachers Retirement System now owns 4,758 shares of the company’s stock worth $45,000 after purchasing an additional 2,798 shares during the last quarter. Oxford Asset Management LLP bought a new stake in Radiant Logistics during the 4th quarter worth about $67,000. Ritholtz Wealth Management acquired a new position in Radiant Logistics during the 1st quarter valued at about $77,000. Finally, Williams & Novak LLC acquired a new position in Radiant Logistics during the 4th quarter valued at about $78,000. 53.59% of the stock is owned by institutional investors and hedge funds.

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.