Radiant Logistics (NYSEAMERICAN:RLGT) Releases Earnings Results, Beats Expectations By $0.01 EPS

Radiant Logistics (NYSEAMERICAN:RLGT) posted its earnings results on Monday. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01, FiscalAI reports. The firm had revenue of $226.66 million for the quarter, compared to analysts’ expectations of $206.64 million. Radiant Logistics had a return on equity of 14.20% and a net margin of 1.92%.

Radiant Logistics Trading Up 1.6%

Shares of Radiant Logistics stock opened at $6.21 on Tuesday. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.09. Radiant Logistics has a twelve month low of $5.44 and a twelve month high of $7.94. The firm has a market capitalization of $293.30 million, a PE ratio of 17.74 and a beta of 0.78. The firm’s 50-day moving average price is $6.11 and its 200 day moving average price is $6.09.

Hedge Funds Weigh In On Radiant Logistics

Several hedge funds and other institutional investors have recently made changes to their positions in RLGT. Ameriprise Financial Inc. increased its position in shares of Radiant Logistics by 1.4% during the second quarter. Ameriprise Financial Inc. now owns 1,198,318 shares of the company’s stock worth $7,286,000 after purchasing an additional 16,937 shares in the last quarter. 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. Empowered Funds LLC grew its holdings in shares of Radiant Logistics by 7.5% during the first quarter. Empowered Funds LLC now owns 232,046 shares of the company’s stock worth $1,427,000 after buying an additional 16,141 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Radiant Logistics by 28.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 222,120 shares of the company’s stock worth $1,350,000 after buying an additional 48,832 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of Radiant Logistics in the first quarter valued at about $587,000. Hedge funds and other institutional investors own 53.59% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Lake Street Capital lowered their price target on Radiant Logistics from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, September 16th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $8.00.

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.