Radiant Logistics (NYSEAMERICAN:RLGT) Shares Down 0.4% – Time to Sell?

Shares of Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) were down 0.4% during mid-day trading on Monday . The company traded as low as $6.65 and last traded at $6.66. Approximately 62,059 shares were traded during trading, a decline of 56% from the average daily volume of 140,223 shares. The stock had previously closed at $6.69.

Wall Street Analyst Weigh In

Separately, Lake Street Capital reduced their price objective on shares of 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 research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $8.00.

Radiant Logistics Stock Performance

The firm has a market capitalization of $311.89 million, a P/E ratio of 21.48 and a beta of 0.73. The stock has a fifty day simple moving average of $6.36 and a two-hundred day simple moving average of $6.21. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.61 and a quick ratio of 1.61.

Radiant Logistics (NYSEAMERICAN:RLGT) last announced its quarterly earnings results on Monday, November 10th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.01. The business had revenue of $226.66 million for the quarter, compared to analyst estimates of $206.64 million. Radiant Logistics had a return on equity of 12.43% and a net margin of 1.64%.

Hedge Funds Weigh In On Radiant Logistics

Several hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its holdings in shares of Radiant Logistics by 45.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 12,822 shares of the company’s stock worth $76,000 after acquiring an additional 4,001 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Radiant Logistics by 78.4% in the second quarter. Public Employees Retirement System of Ohio now owns 13,729 shares of the company’s stock valued at $83,000 after acquiring an additional 6,032 shares in the last quarter. Boothbay Fund Management LLC increased its position in shares of Radiant Logistics by 33.3% during the second quarter. Boothbay Fund Management LLC now owns 14,306 shares of the company’s stock valued at $87,000 after buying an additional 3,572 shares during the period. NewEdge Advisors LLC bought a new stake in Radiant Logistics during the 1st quarter valued at approximately $89,000. Finally, Algert Global LLC bought a new position in shares of Radiant Logistics in the 3rd quarter worth approximately $89,000. Hedge funds and other institutional investors own 53.59% of the company’s stock.

About Radiant Logistics

Radiant Logistics, Inc, through its subsidiaries, is a third-party logistics (3PL) provider offering freight brokerage, managed transportation, contract logistics and supply chain solutions. The company arranges full-truckload (FTL), less-than-truckload (LTL), intermodal, ocean and air freight across multiple geographies. Radiant also provides customs brokerage, trade compliance services and warehousing support, serving industries such as manufacturing, retail, energy and automotive.

Founded in 2005 and headquartered in Green Bay, Wisconsin, Radiant Logistics has grown its network of client-facing offices throughout North America, with additional service centers in Europe and the Asia Pacific region.