Radiant Logistics (NYSEAMERICAN:RLGT) Shares Pass Below Fifty Day Moving Average – Here’s What Happened

Shares of Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $6.90 and traded as low as $6.38. Radiant Logistics shares last traded at $6.51, with a volume of 145,184 shares.

Radiant Logistics Trading Down 1.1 %

The company has a debt-to-equity ratio of 0.01, a current ratio of 1.41 and a quick ratio of 1.41. The stock has a 50-day moving average price of $6.90. The stock has a market capitalization of $306.04 million, a P/E ratio of 23.25 and a beta of 0.87.

Insiders Place Their Bets

In other news, CFO Todd Macomber sold 30,000 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $7.58, for a total transaction of $227,400.00. Following the transaction, the chief financial officer now owns 181,704 shares of the company’s stock, valued at approximately $1,377,316.32. This represents a 14.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 24.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. FMR LLC boosted its stake in Radiant Logistics by 877.2% during the 3rd quarter. FMR LLC now owns 1,490,354 shares of the company’s stock valued at $9,583,000 after purchasing an additional 1,337,841 shares during the period. Royce & Associates LP boosted its stake in Radiant Logistics by 29.7% during the 4th quarter. Royce & Associates LP now owns 2,266,678 shares of the company’s stock valued at $15,187,000 after purchasing an additional 518,462 shares during the period. Vanguard Group Inc. boosted its stake in Radiant Logistics by 7.5% during the 4th quarter. Vanguard Group Inc. now owns 2,565,216 shares of the company’s stock valued at $17,187,000 after purchasing an additional 177,990 shares during the period. Geode Capital Management LLC boosted its stake in Radiant Logistics by 15.9% during the 3rd quarter. Geode Capital Management LLC now owns 896,878 shares of the company’s stock valued at $5,768,000 after purchasing an additional 123,198 shares during the period. Finally, McGowan Group Asset Management Inc. bought a new stake in Radiant Logistics during the 4th quarter valued at approximately $670,000. Institutional investors and hedge funds 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.