Scout Investments Inc. boosted its holdings in shares of Radiant Logistics Inc (NYSEAMERICAN:RLGT) by 65.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 553,288 shares of the company’s stock after acquiring an additional 218,705 shares during the period. Scout Investments Inc. owned 1.12% of Radiant Logistics worth $3,397,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of RLGT. Avalon Advisors LLC purchased a new position in Radiant Logistics in the first quarter worth about $1,730,000. Quantum Capital Management bought a new stake in shares of Radiant Logistics in the first quarter worth approximately $1,674,000. Municipal Employees Retirement System of Michigan bought a new stake in shares of Radiant Logistics in the fourth quarter worth approximately $862,000. AJO LP grew its stake in shares of Radiant Logistics by 72.8% in the first 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. grew its stake in shares of Radiant Logistics by 5.6% in the fourth 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. 39.47% of the stock is owned by institutional investors.
RLGT stock opened at $4.85 on Friday. Radiant Logistics Inc has a one year low of $4.01 and a one year 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, topping the consensus estimate of $0.08 by $0.03. The company had revenue of $206.05 million during the quarter, compared to analysts’ expectations of $234.84 million.
Several brokerages recently issued reports on RLGT. Cowen restated a “buy” rating and set a $7.00 target price on shares of Radiant Logistics in a research report on Monday, May 13th. Zacks Investment Research lowered shares of Radiant Logistics from a “buy” rating to a “hold” rating in a research report on Saturday, July 27th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Radiant Logistics presently has a consensus rating of “Buy” and a consensus price target of $7.42.
In other Radiant Logistics news, COO E Joseph Bento sold 9,779 shares of the business’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 legal filing with the SEC, which is available at the SEC website. 23.30% of the stock is owned by corporate insiders.
About Radiant Logistics
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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