Radiant Logistics Inc (NYSE:RLGT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.

According to Zacks, “Radiant Logistics is executing a strategy to build a global transportation and supply chain management company through organic growth and the strategic acquisition of regional best-of-breed non- asset based transportation and logistics providers to offer its customers domestic and international freight forwarding and an expanding array of value added supply chain management services, including asset recovery and reverse logistics, order fulfillment, inventory management and warehousing. “

Separately, TheStreet downgraded shares of Radiant Logistics from a “hold” rating to a “sell” rating in a report on Tuesday, September 13th.

Shares of Radiant Logistics (NYSE:RLGT) opened at 3.47 on Tuesday. The firm’s market capitalization is $169.29 million. Radiant Logistics has a 52-week low of $2.45 and a 52-week high of $4.41. The company has a 50 day moving average of $2.73 and a 200 day moving average of $3.06.

Radiant Logistics (NYSE:RLGT) last issued its quarterly earnings results on Wednesday, November 9th. The company reported $0.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.04. The business earned $195.10 million during the quarter, compared to analyst estimates of $202.44 million. Radiant Logistics’s revenue for the quarter was down 9.5% on a year-over-year basis. On average, analysts anticipate that Radiant Logistics will post $0.18 earnings per share for the current fiscal year.

In other Radiant Logistics news, CEO Bohn H. Crain purchased 51,005 shares of the business’s stock in a transaction on Tuesday, September 20th. The stock was bought at an average cost of $2.50 per share, with a total value of $127,512.50. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

A number of large investors have recently modified their holdings of RLGT. JBF Capital Inc. increased its stake in Radiant Logistics by 332.9% in the third quarter. JBF Capital Inc. now owns 36,410 shares of the company’s stock valued at $103,000 after buying an additional 28,000 shares during the last quarter. BlackRock Inc. increased its stake in Radiant Logistics by 30.9% in the third quarter. BlackRock Inc. now owns 36,389 shares of the company’s stock valued at $103,000 after buying an additional 8,590 shares during the last quarter. Teachers Advisors Inc. increased its stake in Radiant Logistics by 17.3% in the second quarter. Teachers Advisors Inc. now owns 53,030 shares of the company’s stock valued at $159,000 after buying an additional 7,817 shares during the last quarter. Acrospire Investment Management LLC increased its stake in Radiant Logistics by 339.1% in the third quarter. Acrospire Investment Management LLC now owns 56,828 shares of the company’s stock valued at $161,000 after buying an additional 43,886 shares during the last quarter. Finally, California Public Employees Retirement System bought a new stake in Radiant Logistics during the second quarter valued at about $183,000.

About Radiant Logistics

Radiant Logistics, Inc is a third party logistics company. The Company provides multi-modal transportation and logistics services primarily in the United States and Canada. The Company operates in two geographic operating segments: U.S. and Canada. The Company services an account base consisting of consumer goods, food and beverage, manufacturing and retail customers through a multibrand network consisting of approximately 31 Company owned offices and 128 locations operated by its independent agents, as well as an integrated international service partner network located in other markets around the globe.

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