87,333 Shares in Radiant Logistics, Inc. $RLGT Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC purchased a new position in Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) in the 2nd quarter, HoldingsChannel reports. The firm purchased 87,333 shares of the company’s stock, valued at approximately $813,000.

Several other large investors also recently added to or reduced their stakes in RLGT. Legal & General Group Plc purchased a new stake in Radiant Logistics during the second quarter valued at approximately $36,000. Oxford Asset Management LLP purchased a new position in shares of Radiant Logistics in the 4th quarter worth approximately $67,000. Ritholtz Wealth Management bought a new position in shares of Radiant Logistics during the 1st quarter valued at approximately $77,000. Williams & Novak LLC purchased a new stake in Radiant Logistics during the 4th quarter valued at $78,000. Finally, BNP Paribas Financial Markets raised its holdings in Radiant Logistics by 45.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 12,822 shares of the company’s stock valued at $76,000 after buying an additional 4,001 shares during the period. 53.59% of the stock is owned by institutional investors.

Radiant Logistics Trading Down 2.9%

RLGT opened at $8.29 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.59 and a current ratio of 1.59. The stock’s 50 day moving average price is $8.88 and its 200-day moving average price is $8.26. Radiant Logistics, Inc. has a one year low of $5.78 and a one year high of $9.68. The stock has a market cap of $388.22 million, a price-to-earnings ratio of 24.38 and a beta of 0.82.

Wall Street Analyst Weigh In

RLGT has been the subject of several recent analyst reports. Citizens Jmp initiated coverage on shares of Radiant Logistics in a research note on Wednesday, July 15th. They set a “market perform” rating for the company. Citigroup began coverage on shares of Radiant Logistics in a research note on Wednesday, July 15th. They issued a “market perform” rating on the stock. Finally, Lake Street Capital raised 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 research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Radiant Logistics currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

Insider Buying and Selling

In other Radiant Logistics news, CFO Todd Macomber sold 11,868 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $9.25, for a total value of $109,779.00. Following the transaction, the chief financial officer owned 87,249 shares of the company’s stock, valued at $807,053.25. This represents a 11.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 24.30% of the stock is owned by company insiders.

Radiant Logistics Company Profile

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.