Connor Clark & Lunn Investment Management Ltd. Takes Position in Radiant Logistics, Inc. $RLGT

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 21,255 shares of the company’s stock, valued at approximately $129,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quarry LP acquired a new position in Radiant Logistics in the 1st quarter valued at approximately $56,000. Jump Financial LLC bought a new stake in shares of Radiant Logistics during the first quarter valued at approximately $69,000. Public Employees Retirement System of Ohio raised its stake in shares of Radiant Logistics by 78.4% in the second quarter. Public Employees Retirement System of Ohio now owns 13,729 shares of the company’s stock valued at $83,000 after purchasing an additional 6,032 shares in the last quarter. NewEdge Advisors LLC acquired a new position in shares of Radiant Logistics in the first quarter valued at $89,000. Finally, EP Wealth Advisors LLC lifted its position in Radiant Logistics by 54.2% in the first quarter. EP Wealth Advisors LLC now owns 15,507 shares of the company’s stock worth $95,000 after purchasing an additional 5,453 shares during the period. 53.59% of the stock is currently owned by institutional investors.

Radiant Logistics Trading Up 1.4%

Shares of RLGT stock opened at $5.96 on Friday. The company has a market capitalization of $281.49 million, a P/E ratio of 17.03 and a beta of 0.78. Radiant Logistics, Inc. has a 12-month low of $5.44 and a 12-month high of $7.94. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.09. The firm has a 50-day moving average price of $6.04 and a 200 day moving average price of $6.09.

Radiant Logistics (NYSEAMERICAN:RLGT) last posted its quarterly earnings data on Monday, November 10th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.01. The company had revenue of $226.66 million during the quarter, compared to analyst estimates of $206.64 million. Radiant Logistics had a net margin of 1.92% and a return on equity of 14.20%.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital lowered their price target on shares of Radiant Logistics from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, September 16th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Radiant Logistics presently has an average rating of “Buy” and an average price target of $8.00.

Radiant Logistics Company Profile

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.