Radiant Logistics (NYSEAMERICAN:RLGT) Upgraded to Buy by StockNews.com

Radiant Logistics (NYSEAMERICAN:RLGT) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

Radiant Logistics Stock Up 2.3 %

Shares of NYSEAMERICAN:RLGT traded up $0.12 during midday trading on Thursday, hitting $5.43. The company had a trading volume of 146,718 shares, compared to its average volume of 106,066. Radiant Logistics has a 12 month low of $5.25 and a 12 month high of $7.76. The firm has a market capitalization of $254.78 million, a P/E ratio of 25.86 and a beta of 0.79.

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

Insiders Place Their Bets

In other Radiant Logistics news, insider Arnold Goldstein sold 12,404 shares of Radiant Logistics 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 sale, the insider now owns 10,584 shares of the company’s stock, valued at approximately $58,529.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 24.50% of the company’s stock.

Institutional Trading of Radiant Logistics

Several hedge funds and other institutional investors have recently modified their holdings of RLGT. Lord Abbett & CO. LLC acquired a new stake in shares of Radiant Logistics in the 3rd quarter valued at about $4,451,000. Meros Investment Management LP increased its position in shares of Radiant Logistics by 54.2% in 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 during the last quarter. JPMorgan Chase & Co. increased its position in shares of Radiant Logistics by 175.0% in the second quarter. JPMorgan Chase & Co. now owns 580,540 shares of the company’s stock valued at $4,308,000 after acquiring an additional 369,445 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Radiant Logistics by 20.7% in 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 during the last quarter. Finally, American Century Companies Inc. increased its position in shares of Radiant Logistics by 100.1% in the third quarter. American Century Companies Inc. now owns 415,505 shares of the company’s stock valued at $2,348,000 after acquiring an additional 207,863 shares during the last quarter. Institutional investors and hedge funds own 53.59% of the company’s stock.

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.