Radiant Logistics (NYSEAMERICAN:RLGT) Shares Cross Below 50 Day Moving Average – Here’s Why

Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) shares passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $8.96 and traded as low as $8.53. Radiant Logistics shares last traded at $8.65, with a volume of 90,453 shares traded.

Analyst Ratings Changes

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

Radiant Logistics Price Performance

The company has a market capitalization of $394.78 million, a P/E ratio of 24.79 and a beta of 0.83. The business’s 50-day simple moving average is $8.95 and its 200 day simple moving average is $8.20. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.11.

Insider Activity

In other news, CFO Todd Macomber sold 11,868 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $9.25, for a total transaction of $109,779.00. Following the completion of the sale, the chief financial officer directly owned 87,249 shares of the company’s stock, valued at $807,053.25. This trade represents a 11.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 24.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC acquired a new position in Radiant Logistics during the 2nd quarter worth $355,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Radiant Logistics in the second quarter valued at about $130,000. Blue Edge Capital LLC bought a new position in shares of Radiant Logistics in the second quarter worth about $284,000. Bank of America Corp DE bought a new position in shares of Radiant Logistics in the second quarter worth about $1,566,000. Finally, Hsbc Holdings PLC acquired a new position in shares of Radiant Logistics during the 2nd quarter worth about $813,000. Institutional investors and hedge funds own 53.59% of the company’s stock.

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.