State Board of Administration of Florida Retirement System boosted its position in shares of Radiant Logistics Inc (NYSEAMERICAN:RLGT) by 75.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 116,252 shares of the company’s stock after purchasing an additional 49,873 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.23% of Radiant Logistics worth $732,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of RLGT. TIAA CREF Investment Management LLC raised its holdings in Radiant Logistics by 14.9% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 331,921 shares of the company’s stock worth $1,962,000 after purchasing an additional 43,079 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Radiant Logistics by 4.6% in the third quarter. Vanguard Group Inc. now owns 1,614,859 shares of the company’s stock valued at $9,544,000 after acquiring an additional 71,357 shares during the period. Vanguard Group Inc raised its stake in shares of Radiant Logistics by 4.6% in the third quarter. Vanguard Group Inc now owns 1,614,859 shares of the company’s stock worth $9,544,000 after buying an additional 71,357 shares during the period. Bank of Montreal Can lifted its position in shares of Radiant Logistics by 126.3% during the fourth quarter. Bank of Montreal Can now owns 29,678 shares of the company’s stock worth $125,000 after purchasing an additional 16,565 shares during the last quarter. Finally, Wedge Capital Management L L P NC bought a new stake in shares of Radiant Logistics during the fourth quarter worth $869,000. Hedge funds and other institutional investors own 39.47% of the company’s stock.
Several equities analysts recently issued reports on the company. Zacks Investment Research raised Radiant Logistics from a “hold” rating to a “buy” rating and set a $7.25 target price on the stock in a research note on Wednesday, May 15th. Cowen restated a “buy” rating and set a $7.00 price target on shares of Radiant Logistics in a research note on Monday, May 13th. Finally, TheStreet upgraded Radiant Logistics from a “c+” rating to a “b” rating in a research note on Monday, March 4th. Four equities research analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and a consensus price target of $7.75.
In other news, COO E Joseph Bento sold 9,779 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $6.53, for a total transaction of $63,856.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 23.30% of the stock is currently owned by company insiders.
Shares of NYSEAMERICAN:RLGT traded up $0.06 during midday trading on Wednesday, hitting $5.96. The company’s stock had a trading volume of 239,300 shares, compared to its average volume of 385,552. Radiant Logistics Inc has a fifty-two week low of $3.83 and a fifty-two week high of $7.33.
Radiant Logistics (NYSEAMERICAN:RLGT) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.08 by $0.03. The business had revenue of $206.05 million for the quarter, compared to the consensus estimate of $234.84 million.
Radiant Logistics Profile
Radiant Logistics, Inc operates as a third-party logistics and multi-modal transportation services company primarily in the United States and Canada. The company offers domestic and international air and ocean freight forwarding services; and freight brokerage services, including truckload, less than truckload, and intermodal services.
Further Reading: Why do company’s buyback their stock?
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