Radiant Logistics (NYSEAMERICAN:RLGT) Announces Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Radiant Logistics (NYSEAMERICAN:RLGT) released its quarterly earnings data on Wednesday. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.05, Yahoo Finance reports. Radiant Logistics had a return on equity of 27.02% and a net margin of 2.96%.

Radiant Logistics Stock Performance

RLGT stock opened at $6.69 on Thursday. Radiant Logistics has a fifty-two week low of $4.93 and a fifty-two week high of $7.76. The stock has a market cap of $318.07 million, a P/E ratio of 9.16 and a beta of 0.95. The stock’s 50 day moving average price is $5.89. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.52 and a quick ratio of 1.52.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Radiant Logistics in a research note on Wednesday, August 23rd. They set a “buy” rating on the stock.

Institutional Investors Weigh In On Radiant Logistics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RLGT. Dimensional Fund Advisors LP boosted its stake in Radiant Logistics by 2.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,836,658 shares of the company’s stock worth $19,062,000 after purchasing an additional 75,830 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Radiant Logistics by 2.6% in the second quarter. BlackRock Inc. now owns 2,684,656 shares of the company’s stock worth $18,041,000 after buying an additional 69,117 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Radiant Logistics by 2.8% during the first quarter. Wellington Management Group LLP now owns 2,584,112 shares of the company’s stock valued at $16,461,000 after buying an additional 70,000 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Radiant Logistics by 20.7% during the first quarter. Ameriprise Financial Inc. now owns 1,287,133 shares of the company’s stock valued at $8,444,000 after acquiring an additional 220,381 shares in the last quarter. Finally, Meros Investment Management LP increased its position in shares of Radiant Logistics by 54.2% during the fourth quarter. Meros Investment Management LP now owns 1,192,942 shares of the company’s stock valued at $6,072,000 after acquiring an additional 419,478 shares in the last quarter. 53.34% of the stock is owned by hedge funds and other institutional investors.

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. It offers domestic, international air, and ocean freight forwarding services; and freight brokerage services, including truckload and intermodal services.