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

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

Radiant Logistics Price Performance

NYSEAMERICAN:RLGT opened at $7.27 on Friday. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.13. Radiant Logistics, Inc. has a 52 week low of $5.44 and a 52 week high of $8.50. The stock’s 50-day moving average price is $7.14 and its 200-day moving average price is $6.57. The stock has a market capitalization 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 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.08. Radiant Logistics had a return on equity of 11.05% and a net margin of 1.57%.The company had revenue of $232.13 million during the quarter, compared to analysts’ expectations of $242.08 million.

Hedge Funds Weigh In On Radiant Logistics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Royce & Associates LP boosted its stake in shares of Radiant Logistics by 5.3% in the fourth quarter. Royce & Associates LP now owns 2,274,423 shares of the company’s stock worth $14,397,000 after acquiring an additional 113,720 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Radiant Logistics by 12.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,346,699 shares of the company’s stock valued at $7,946,000 after purchasing an additional 148,381 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Radiant Logistics by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 834,390 shares of the company’s stock valued at $5,283,000 after purchasing an additional 24,150 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Radiant Logistics by 4.3% during the 4th quarter. Russell Investments Group Ltd. now owns 594,532 shares of the company’s stock worth $3,763,000 after purchasing an additional 24,506 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in Radiant Logistics by 24.2% during the 2nd quarter. Bank of America Corp DE now owns 449,471 shares of the company’s stock worth $2,733,000 after purchasing an additional 87,436 shares during the last quarter. Hedge funds and other institutional investors own 53.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on RLGT shares. TD Cowen reissued a “buy” rating on shares of Radiant Logistics in a research note on Tuesday, February 10th. Lake Street Capital restated a “buy” rating and set a $9.00 price objective on shares of Radiant Logistics in a research report on Wednesday, February 11th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Radiant Logistics currently has a consensus rating of “Buy” and an average price target of $9.00.

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.