Scout Investments Inc. increased its position in shares of Radiant Logistics Inc (NYSEAMERICAN:RLGT) by 65.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 553,288 shares of the company’s stock after purchasing an additional 218,705 shares during the quarter. Scout Investments Inc. owned approximately 1.12% of Radiant Logistics worth $3,397,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Avalon Advisors LLC purchased a new stake in shares of Radiant Logistics during the 1st quarter valued at approximately $1,730,000. Quantum Capital Management bought a new stake in Radiant Logistics during the 1st quarter worth approximately $1,674,000. Municipal Employees Retirement System of Michigan bought a new stake in Radiant Logistics during the 4th quarter worth approximately $862,000. AJO LP increased its holdings in Radiant Logistics by 72.8% during the 1st quarter. AJO LP now owns 474,896 shares of the company’s stock worth $2,992,000 after acquiring an additional 200,142 shares during the period. Finally, BlackRock Inc. increased its holdings in Radiant Logistics by 5.6% during the 4th quarter. BlackRock Inc. now owns 2,513,781 shares of the company’s stock worth $10,684,000 after acquiring an additional 133,618 shares during the period. Institutional investors and hedge funds own 39.47% of the company’s stock.
In other Radiant Logistics news, COO E Joseph Bento sold 9,779 shares of the 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 23.30% of the company’s stock.
RLGT stock opened at $4.85 on Friday. Radiant Logistics Inc has a 52 week low of $4.01 and a 52 week high of $7.33.
Radiant Logistics (NYSEAMERICAN:RLGT) last released its earnings results on Thursday, May 9th. The company reported $0.11 EPS for the quarter, beating the Thomson Reuters’ 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.
A number of analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Radiant Logistics from a “buy” rating to a “hold” rating in a report on Saturday, July 27th. Cowen reissued a “buy” rating and issued a $7.00 price target on shares of Radiant Logistics in a report on Monday, May 13th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $7.42.
Radiant Logistics Company 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.
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