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

StockNews.com lowered shares of Radiant Logistics (NYSEAMERICAN:RLGT) from a buy rating to a hold rating in a report published on Tuesday morning.

Radiant Logistics Stock Performance

Shares of Radiant Logistics stock opened at $4.93 on Tuesday. Radiant Logistics has a 1 year low of $4.89 and a 1 year high of $7.76. The firm has a market capitalization of $231.32 million, a PE ratio of 23.48 and a beta of 0.79.

Radiant Logistics (NYSEAMERICAN:RLGT) last posted its quarterly 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 net margin of 1.23% and a return on equity of 12.94%.

Insider Transactions at Radiant Logistics

In other news, insider Arnold Goldstein sold 12,404 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $5.53, for a total transaction of $68,594.12. Following the completion of the transaction, the insider now directly owns 10,584 shares in the company, valued at approximately $58,529.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 24.50% of the company’s stock.

Institutional Investors Weigh In On Radiant Logistics

Several institutional investors have recently bought and sold shares of RLGT. Hsbc Holdings PLC raised its stake in Radiant Logistics by 15.3% in the 3rd quarter. Hsbc Holdings PLC now owns 55,822 shares of the company’s stock valued at $319,000 after acquiring an additional 7,400 shares during the period. Bailard Inc. acquired a new position in Radiant Logistics in the 3rd quarter valued at $148,000. Lord Abbett & CO. LLC acquired a new position in Radiant Logistics in the 3rd quarter valued at $4,451,000. SG Americas Securities LLC grew its holdings in Radiant Logistics by 16.7% in the 4th quarter. SG Americas Securities LLC now owns 19,919 shares of the company’s stock valued at $132,000 after buying an additional 2,853 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. acquired a new position in Radiant Logistics in the 3rd quarter valued at $130,000. Institutional investors own 53.59% of the company’s stock.

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