Bristlecone Value Partners LLC Purchases Shares of 58,430 Radiant Logistics, Inc. $RLGT

Bristlecone Value Partners LLC purchased a new stake in shares of Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) in the fourth quarter, HoldingsChannel reports. The firm purchased 58,430 shares of the company’s stock, valued at approximately $370,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its stake in shares of Radiant Logistics by 6.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 104,620 shares of the company’s stock valued at $662,000 after purchasing an additional 6,766 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Radiant Logistics by 42.5% in the fourth quarter. Wells Fargo & Company MN now owns 42,640 shares of the company’s stock valued at $270,000 after purchasing an additional 12,715 shares during the period. Jane Street Group LLC boosted its stake in shares of Radiant Logistics by 89.4% in the fourth quarter. Jane Street Group LLC now owns 87,246 shares of the company’s stock valued at $552,000 after purchasing an additional 41,186 shares during the period. Geode Capital Management LLC boosted its stake in shares of Radiant Logistics by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 834,390 shares of the company’s stock valued at $5,283,000 after purchasing an additional 24,150 shares during the period. Finally, Royce & Associates LP boosted its stake in shares of Radiant Logistics by 5.3% in the fourth quarter. Royce & Associates LP now owns 2,274,423 shares of the company’s stock valued at $14,397,000 after purchasing an additional 113,720 shares during the period. Hedge funds and other institutional investors own 53.59% of the company’s stock.

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, CFO Todd Macomber sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $7.00, for a total value of $52,500.00. Following the sale, the chief financial officer owned 162,249 shares of the company’s stock, valued at $1,135,743. This trade represents a 4.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 24.30% of the stock is currently owned by company insiders.

Radiant Logistics Stock Up 1.1%

Shares of NYSEAMERICAN:RLGT opened at $9.20 on Friday. The firm’s 50 day moving average price is $8.29 and its 200 day moving average price is $7.35. The stock has a market cap of $430.84 million, a price-to-earnings ratio of 27.06 and a beta of 0.82. Radiant Logistics, Inc. has a fifty-two week low of $5.78 and a fifty-two week high of $9.45. 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 (NYSEAMERICAN:RLGT) last issued its earnings results on Monday, May 11th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.05. The firm had revenue of $214.14 million for the quarter, compared to analysts’ expectations of $222.60 million. Radiant Logistics had a net margin of 1.81% and a return on equity of 10.19%.

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.