Radiant Logistics (NYSEAMERICAN:RLGT) Stock Crosses Below Fifty Day Moving Average – Here’s Why

Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) shares crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $8.99 and traded as low as $8.32. Radiant Logistics shares last traded at $8.43, with a volume of 111,695 shares changing hands.

Analyst Upgrades and Downgrades

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

Radiant Logistics Price Performance

The company has a 50 day moving average of $8.99 and a two-hundred day moving average of $8.05. The firm has a market cap of $394.78 million, a P/E ratio of 24.79 and a beta of 0.83. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.11.

Radiant Logistics (NYSEAMERICAN:RLGT) last released its earnings results on Monday, May 11th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. Radiant Logistics had a return on equity of 10.19% and a net margin of 1.81%.The firm had revenue of $214.13 million for the quarter, compared to analyst estimates of $222.60 million.

Insider Activity

In other news, CFO Todd Macomber sold 11,868 shares of Radiant Logistics stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $9.25, for a total value of $109,779.00. Following the transaction, the chief financial officer owned 87,249 shares of the company’s stock, valued at $807,053.25. The trade was a 11.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 24.30% of the stock is owned by corporate insiders.

Institutional Trading of Radiant Logistics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp bought a new position in shares of Radiant Logistics in the second quarter valued at $1,227,000. Verus Capital Partners LLC acquired a new position in shares of Radiant Logistics in the 1st quarter worth $150,000. Renaissance Technologies LLC acquired a new position in shares of Radiant Logistics in the 1st quarter worth $286,000. Arrowstreet Capital Limited Partnership raised its position in shares of Radiant Logistics by 2.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 228,218 shares of the company’s stock worth $1,609,000 after purchasing an additional 6,098 shares during the period. Finally, Sei Investments Co. acquired a new stake in shares of Radiant Logistics during the first quarter worth $943,000. 53.59% of the stock is owned by institutional investors and hedge funds.

About Radiant Logistics

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.