Todd Macomber Sells 11,868 Shares of Radiant Logistics (NYSEAMERICAN:RLGT) Stock

Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) CFO Todd Macomber sold 11,868 shares of Radiant Logistics stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $9.25, for a total transaction of $109,779.00. Following the completion of the sale, the chief financial officer owned 87,249 shares in the company, valued at $807,053.25. This trade represents a 11.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Todd Macomber also recently made the following trade(s):

• On Friday, June 12th, Todd Macomber sold 43 shares of Radiant Logistics stock. The shares were sold at an average price of $9.25, for a total transaction of $397.75.
• On Tuesday, March 31st, Todd Macomber sold 7,500 shares of Radiant Logistics stock. The shares were sold at an average price of $7.00, for a total transaction of $52,500.00.

Radiant Logistics Price Performance

NYSEAMERICAN RLGT opened at $9.07 on Wednesday. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.11. Radiant Logistics, Inc. has a 12-month low of $5.78 and a 12-month high of $9.45. The company has a market capitalization of $424.75 million, a PE ratio of 26.68 and a beta of 0.82. The firm’s 50 day moving average is $8.36 and its 200-day moving average is $7.40.

Radiant Logistics (NYSEAMERICAN:RLGT) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. The company had revenue of $214.14 million for the quarter, compared to the consensus estimate of $222.60 million. Radiant Logistics had a net margin of 1.81% and a return on equity of 10.19%.

Hedge Funds Weigh In On Radiant Logistics

A number of institutional investors have recently added to or reduced their stakes in the company. Royce & Associates LP increased its holdings in Radiant Logistics by 5.3% during the fourth quarter. Royce & Associates LP now owns 2,274,423 shares of the company’s stock worth $14,397,000 after buying an additional 113,720 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Radiant Logistics by 12.4% during the third quarter. Ameriprise Financial Inc. now owns 1,346,699 shares of the company’s stock worth $7,946,000 after purchasing an additional 148,381 shares during the period. Geode Capital Management LLC boosted its position in Radiant Logistics by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 834,390 shares of the company’s stock worth $5,283,000 after purchasing an additional 24,150 shares during the period. Russell Investments Group Ltd. boosted its position in Radiant Logistics by 4.3% during the fourth quarter. Russell Investments Group Ltd. now owns 594,532 shares of the company’s stock worth $3,763,000 after purchasing an additional 24,506 shares during the period. Finally, Bank of America Corp DE boosted its position in Radiant Logistics by 24.2% during the second quarter. Bank of America Corp DE now owns 449,471 shares of the company’s stock worth $2,733,000 after purchasing an additional 87,436 shares during the period. 53.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Lake Street Capital boosted their target price on shares of Radiant Logistics from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Monday, June 8th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $12.00.

About Radiant Logistics

Radiant Logistics, Inc, through its subsidiaries, is a third-party logistics (3PL) provider offering freight brokerage, managed transportation, contract logistics and supply chain solutions. The company arranges full-truckload (FTL), less-than-truckload (LTL), intermodal, ocean and air freight across multiple geographies. Radiant also provides customs brokerage, trade compliance services and warehousing support, serving industries such as manufacturing, retail, energy and automotive.

Founded in 2005 and headquartered in Green Bay, Wisconsin, Radiant Logistics has grown its network of client-facing offices throughout North America, with additional service centers in Europe and the Asia Pacific region.