Radiant Logistics (NYSEAMERICAN:RLGT) Downgraded by StockNews.com to Hold

StockNews.com lowered shares of Radiant Logistics (NYSEAMERICAN:RLGT) from a buy rating to a hold rating in a report published on Tuesday morning.

Radiant Logistics Price Performance

RLGT opened at $5.07 on Tuesday. Radiant Logistics has a 1-year low of $5.00 and a 1-year high of $7.76. The company has a market capitalization of $237.88 million, a PE ratio of 24.14 and a beta of 0.79.

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

Insider Activity

In other news, insider Arnold Goldstein sold 12,404 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $5.53, for a total value of $68,594.12. Following the completion of the sale, the insider now directly owns 10,584 shares in the company, valued at $58,529.52. The sale was disclosed in a filing with the SEC, which is accessible through this link. 24.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Radiant Logistics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC lifted its holdings in shares of Radiant Logistics by 15.3% during the 3rd quarter. Hsbc Holdings PLC now owns 55,822 shares of the company’s stock valued at $319,000 after purchasing an additional 7,400 shares in the last quarter. Bailard Inc. acquired a new position in Radiant Logistics in the 3rd quarter valued at $148,000. Lord Abbett & CO. LLC acquired a new position in Radiant Logistics in the 3rd quarter valued at $4,451,000. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Radiant Logistics during the 3rd quarter worth $130,000. Finally, First Eagle Investment Management LLC grew its holdings in shares of Radiant Logistics by 34.4% during the 3rd quarter. First Eagle Investment Management LLC now owns 406,452 shares of the company’s stock worth $2,296,000 after purchasing an additional 103,960 shares in the last quarter. 53.59% of the stock is currently owned by institutional investors and hedge funds.

Radiant Logistics Company Profile

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.