Radiant Logistics (RLGT) Shares Up 5.7%

Shares of Radiant Logistics Inc (NYSEAMERICAN:RLGT) shot up 5.7% on Monday . The company traded as high as $7.09 and last traded at $7.00. 1,670,754 shares were traded during mid-day trading, an increase of 327% from the average session volume of 391,220 shares. The stock had previously closed at $6.62.

A number of brokerages have recently weighed in on RLGT. Zacks Investment Research lowered Radiant Logistics from a “buy” rating to a “hold” rating in a research note on Wednesday. Seaport Global Securities restated a “buy” rating on shares of Radiant Logistics in a research note on Monday, February 4th. Finally, TheStreet lowered Radiant Logistics from a “b-” rating to a “c+” rating in a research note on Wednesday, December 19th.

Radiant Logistics (NYSEAMERICAN:RLGT) last announced its quarterly earnings data on Monday, February 11th. The company reported $0.16 EPS for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.04. The firm had revenue of $260.94 million during the quarter, compared to analyst estimates of $232.02 million.

A number of hedge funds have recently made changes to their positions in RLGT. Meeder Asset Management Inc. acquired a new position in shares of Radiant Logistics during the 4th quarter worth about $37,000. Acadian Asset Management LLC acquired a new position in shares of Radiant Logistics during the 4th quarter worth about $73,000. SG Americas Securities LLC acquired a new position in shares of Radiant Logistics during the 4th quarter worth about $86,000. Bank of Montreal Can grew its position in shares of Radiant Logistics by 126.3% during the 4th quarter. Bank of Montreal Can now owns 29,678 shares of the company’s stock worth $125,000 after buying an additional 16,565 shares during the period. Finally, Virtu Financial LLC grew its position in shares of Radiant Logistics by 40.7% during the 1st quarter. Virtu Financial LLC now owns 19,947 shares of the company’s stock worth $126,000 after buying an additional 5,768 shares during the period. Hedge funds and other institutional investors own 39.47% of the company’s stock.

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Radiant Logistics Company Profile (NYSEAMERICAN:RLGT)

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: Growth Stocks

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