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

Radiant Logistics (NYSEAMERICAN:RLGT) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

Radiant Logistics Price Performance

RLGT stock opened at $5.30 on Tuesday. Radiant Logistics has a fifty-two week low of $4.83 and a fifty-two week high of $7.76. The company has a market capitalization of $249.10 million, a P/E ratio of 48.19 and a beta of 0.80.

Radiant Logistics (NYSEAMERICAN:RLGT) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.08 earnings per share (EPS) for the quarter. The business had revenue of $184.56 million for the quarter. Radiant Logistics had a return on equity of 10.70% and a net margin of 0.73%.

Insider Buying and Selling

In related news, insider Arnold Goldstein sold 12,404 shares of the company’s stock in a transaction dated 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 owns 10,584 shares in the company, valued at $58,529.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 24.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Radiant Logistics

Hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in shares of Radiant Logistics by 2.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,905,214 shares of the company’s stock valued at $19,291,000 after purchasing an additional 59,435 shares during the period. Vanguard Group Inc. boosted its position in Radiant Logistics by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 2,358,299 shares of the company’s stock worth $12,782,000 after acquiring an additional 13,363 shares during the last quarter. Wasatch Advisors LP grew its stake in shares of Radiant Logistics by 10.7% during the 1st quarter. Wasatch Advisors LP now owns 1,205,550 shares of the company’s stock worth $6,534,000 after acquiring an additional 116,340 shares in the last quarter. Lord Abbett & CO. LLC lifted its position in shares of Radiant Logistics by 26.3% in the first quarter. Lord Abbett & CO. LLC now owns 1,099,874 shares of the company’s stock worth $5,961,000 after purchasing an additional 228,828 shares in the last quarter. Finally, CM Management LLC boosted its holdings in Radiant Logistics by 5.1% during the first quarter. CM Management LLC now owns 725,000 shares of the company’s stock worth $3,930,000 after purchasing an additional 35,000 shares during 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.