Todd Macomber Sells 7,500 Shares of Radiant Logistics (NYSEAMERICAN:RLGT) Stock

Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) CFO Todd Macomber sold 7,500 shares of the stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $7.00, for a total value of $52,500.00. Following the transaction, the chief financial officer owned 162,249 shares in the company, valued at $1,135,743. The trade was a 4.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Radiant Logistics Stock Performance

Shares of Radiant Logistics stock opened at $7.27 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.59 and a current ratio of 1.59. The firm has a 50-day moving average of $7.16 and a 200-day moving average of $6.57. Radiant Logistics, Inc. has a 52-week low of $5.44 and a 52-week high of $8.50. The stock has a market cap of $340.45 million, a PE ratio of 25.07 and a beta of 0.70.

Radiant Logistics (NYSEAMERICAN:RLGT) last released its quarterly earnings results on Monday, February 9th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.08. Radiant Logistics had a net margin of 1.57% and a return on equity of 11.05%. The business had revenue of $232.13 million for the quarter, compared to analyst estimates of $242.08 million.

Analyst Upgrades and Downgrades

RLGT has been the subject of several recent research reports. Lake Street Capital reiterated a “buy” rating and issued a $9.00 price target on shares of Radiant Logistics in a research note on Wednesday, February 11th. TD Cowen restated a “buy” rating on shares of Radiant Logistics in a research note on Tuesday, February 10th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Radiant Logistics currently has an average rating of “Buy” and an average target price of $9.00.

Hedge Funds Weigh In On Radiant Logistics

Hedge funds and other institutional investors have recently made changes to their positions in the company. NewEdge Advisors LLC boosted its position in shares of Radiant Logistics by 12.6% during the 2nd quarter. NewEdge Advisors LLC now owns 16,375 shares of the company’s stock worth $100,000 after acquiring an additional 1,833 shares in the last quarter. Intech Investment Management LLC raised its position in Radiant Logistics by 14.7% during the second quarter. Intech Investment Management LLC now owns 15,876 shares of the company’s stock valued at $97,000 after purchasing an additional 2,034 shares in the last quarter. Rhumbline Advisers raised its position in Radiant Logistics by 6.0% during the second quarter. Rhumbline Advisers now owns 56,821 shares of the company’s stock valued at $345,000 after purchasing an additional 3,198 shares in the last quarter. Integrated Wealth Concepts LLC lifted its stake in Radiant Logistics by 9.1% during the third quarter. Integrated Wealth Concepts LLC now owns 41,044 shares of the company’s stock worth $242,000 after purchasing an additional 3,420 shares during the last quarter. Finally, Boothbay Fund Management LLC lifted its stake in Radiant Logistics by 33.3% during the second quarter. Boothbay Fund Management LLC now owns 14,306 shares of the company’s stock worth $87,000 after purchasing an additional 3,572 shares during the last quarter. 53.59% of the stock is currently 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.