Radiant Logistics (NYSEAMERICAN:RLGT) Cut to “Hold” at StockNews.com

Radiant Logistics (NYSEAMERICAN:RLGT) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Tuesday.

Radiant Logistics Price Performance

Shares of NYSEAMERICAN RLGT opened at $4.98 on Tuesday. Radiant Logistics has a 12-month low of $4.95 and a 12-month high of $7.76. The company has a market cap of $233.66 million, a PE ratio of 23.72 and a beta of 0.79.

Radiant Logistics (NYSEAMERICAN:RLGT) last announced its earnings results on Thursday, February 8th. The company reported $0.11 EPS for the quarter. The firm had revenue of $201.08 million for the quarter. Radiant Logistics had a return on equity of 12.94% and a net margin of 1.23%.

Insider Buying and Selling

In related news, insider Arnold Goldstein sold 12,404 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $5.53, for a total value of $68,594.12. Following the sale, the insider now directly owns 10,584 shares in the company, valued at approximately $58,529.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 24.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Radiant Logistics

Hedge funds have recently modified their holdings of the stock. Hennion & Walsh Asset Management Inc. increased its position in shares of Radiant Logistics by 8.0% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 36,559 shares of the company’s stock worth $198,000 after acquiring an additional 2,699 shares in the last quarter. Vanguard Group Inc. grew its position in Radiant Logistics by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 2,344,936 shares of the company’s stock worth $15,570,000 after purchasing an additional 26,513 shares in the last quarter. Barclays PLC grew its position in Radiant Logistics by 126.7% during the 4th quarter. Barclays PLC now owns 88,619 shares of the company’s stock worth $589,000 after purchasing an additional 49,527 shares in the last quarter. Bridgeway Capital Management LLC lifted its holdings in shares of Radiant Logistics by 9.2% in the fourth quarter. Bridgeway Capital Management LLC now owns 328,064 shares of the company’s stock valued at $2,178,000 after purchasing an additional 27,648 shares in the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of Radiant Logistics by 16.5% in the fourth quarter. Royal Bank of Canada now owns 60,300 shares of the company’s stock valued at $400,000 after purchasing an additional 8,535 shares in the last quarter. 53.59% of the stock is currently owned by institutional investors and hedge funds.

About Radiant Logistics

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.