Radiant Logistics (NYSEAMERICAN:RLGT – Get Free Report) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
Radiant Logistics Price Performance
Shares of Radiant Logistics stock opened at $5.30 on Tuesday. The stock has a market cap of $249.10 million, a P/E ratio of 48.19 and a beta of 0.80. Radiant Logistics has a 12 month low of $4.83 and a 12 month high of $7.76.
Radiant Logistics (NYSEAMERICAN:RLGT – Get Free Report) last released its earnings results on Thursday, May 9th. The company reported $0.08 earnings per share (EPS) for the quarter. The company had revenue of $184.56 million for the quarter. Radiant Logistics had a net margin of 0.73% and a return on equity of 10.70%.
Insider Buying and Selling
Hedge Funds Weigh In On Radiant Logistics
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its stake in shares of Radiant Logistics by 2.0% during the third quarter. Bank of New York Mellon Corp now owns 148,599 shares of the company’s stock worth $840,000 after acquiring an additional 2,935 shares during the period. CM Management LLC lifted its holdings in shares of Radiant Logistics by 3.3% in the 3rd quarter. CM Management LLC now owns 620,000 shares of the company’s stock valued at $3,503,000 after buying an additional 20,000 shares during the period. First Eagle Investment Management LLC boosted its stake in shares of Radiant Logistics by 34.4% in the third quarter. First Eagle Investment Management LLC now owns 406,452 shares of the company’s stock valued at $2,296,000 after buying an additional 103,960 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Radiant Logistics in the third quarter valued at approximately $324,000. Finally, Lord Abbett & CO. LLC acquired a new position in Radiant Logistics during the third quarter worth $4,451,000. Hedge funds and other institutional investors own 53.59% of the company’s stock.
Radiant Logistics Company Profile
Radiant Logistics, Inc, a third-party logistics company, provides technology-enabled global transportation and value-added logistics solutions primarily in the United States and Canada. The company offers domestic, international air, and ocean freight forwarding services; and freight brokerage services, including truckload and intermodal services.
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