Cornercap Investment Counsel Inc. lowered its stake in shares of Radiant Logistics, Inc. (NYSEAMERICAN:RLGT – Free Report) by 48.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 47,428 shares of the company’s stock after selling 44,425 shares during the quarter. Cornercap Investment Counsel Inc. owned about 0.10% of Radiant Logistics worth $305,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Radiant Logistics by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 2,358,299 shares of the company’s stock valued at $12,782,000 after acquiring an additional 13,363 shares during the period. Meros Investment Management LP grew its stake in Radiant Logistics by 1.7% in the 2nd quarter. Meros Investment Management LP now owns 1,154,390 shares of the company’s stock worth $6,568,000 after acquiring an additional 19,306 shares during the period. CM Management LLC grew its stake in Radiant Logistics by 6.9% in the 2nd quarter. CM Management LLC now owns 775,000 shares of the company’s stock worth $4,410,000 after acquiring an additional 50,000 shares during the period. Bank of New York Mellon Corp grew its stake in Radiant Logistics by 10.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 185,626 shares of the company’s stock worth $1,056,000 after acquiring an additional 17,984 shares during the period. Finally, Janney Montgomery Scott LLC grew its stake in Radiant Logistics by 10.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 73,982 shares of the company’s stock worth $401,000 after acquiring an additional 6,895 shares during the period. Hedge funds and other institutional investors own 53.59% of the company’s stock.
Analysts Set New Price Targets
Separately, StockNews.com raised shares of Radiant Logistics from a “hold” rating to a “buy” rating in a research note on Friday, August 30th.
Insider Activity
In other news, insider Arnold Goldstein sold 10,584 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $6.41, for a total value of $67,843.44. Following the sale, the insider now owns 12,277 shares in the company, valued at approximately $78,695.57. This represents a 46.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 24.60% of the company’s stock.
Radiant Logistics Price Performance
Shares of Radiant Logistics stock opened at $7.05 on Monday. Radiant Logistics, Inc. has a twelve month low of $4.83 and a twelve month high of $7.54. The firm has a market cap of $330.79 million, a P/E ratio of 41.47 and a beta of 0.84.
Radiant Logistics (NYSEAMERICAN:RLGT – Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. Radiant Logistics had a net margin of 1.06% and a return on equity of 11.48%. The firm had revenue of $203.57 million for the quarter.
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.
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