Wells Fargo & Company MN Has $987,000 Position in Radiant Logistics Inc (RLGT)
Wells Fargo & Company MN lifted its stake in shares of Radiant Logistics Inc (NYSEAMERICAN:RLGT) by 15.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 185,923 shares of the company’s stock after buying an additional 24,556 shares during the period. Wells Fargo & Company MN’s holdings in Radiant Logistics were worth $987,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the stock. Wasatch Advisors Inc. boosted its position in shares of Radiant Logistics by 109.7% during the third quarter. Wasatch Advisors Inc. now owns 572,440 shares of the company’s stock valued at $3,040,000 after buying an additional 299,440 shares during the last quarter. Macquarie Group Ltd. purchased a new position in shares of Radiant Logistics during the third quarter valued at approximately $315,000. First Trust Advisors LP purchased a new position in shares of Radiant Logistics during the third quarter valued at approximately $141,000. The Manufacturers Life Insurance Company boosted its position in shares of Radiant Logistics by 1.6% during the second quarter. The Manufacturers Life Insurance Company now owns 31,970 shares of the company’s stock valued at $172,000 after buying an additional 489 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Radiant Logistics by 11.1% during the second quarter. State Street Corp now owns 588,753 shares of the company’s stock valued at $3,167,000 after buying an additional 59,023 shares during the last quarter. 39.47% of the stock is currently owned by institutional investors.
Separately, Zacks Investment Research upgraded Radiant Logistics from a “sell” rating to a “hold” rating in a report on Tuesday, December 5th.
Radiant Logistics (NYSEAMERICAN:RLGT) last issued its quarterly earnings results on Thursday, November 9th. The company reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.03). The business had revenue of $198.00 million for the quarter, compared to the consensus estimate of $210.37 million. Radiant Logistics had a return on equity of 1.03% and a net margin of 0.45%. The business’s revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.08 earnings per share. analysts anticipate that Radiant Logistics Inc will post 0.27 EPS for the current fiscal year.
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Radiant Logistics Profile
Radiant Logistics, Inc operates as a third-party logistics company, providing multi-modal transportation and logistics services. The Company is organized in two geographic operating segments: United States and Canada. Its transportation services for both the United States and Canada segments are placed into categories of freight forwarding and freight brokerage services.
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