FMR LLC increased its stake in Radiant Logistics, Inc. (NYSEAMERICAN:RLGT - Free Report) by 877.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,490,354 shares of the company's stock after acquiring an additional 1,337,841 shares during the quarter. FMR LLC owned 3.18% of Radiant Logistics worth $9,583,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of RLGT. Price T Rowe Associates Inc. MD bought a new stake in Radiant Logistics during the 1st quarter valued at $55,000. Beacon Bridge Wealth Partners LLC bought a new stake in Radiant Logistics during the 2nd quarter valued at $73,000. SG Americas Securities LLC bought a new stake in Radiant Logistics during the 3rd quarter valued at $79,000. The Manufacturers Life Insurance Company increased its stake in Radiant Logistics by 27.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,255 shares of the company's stock valued at $92,000 after purchasing an additional 3,533 shares in the last quarter. Finally, AQR Capital Management LLC bought a new stake in Radiant Logistics during the 2nd quarter valued at $145,000. Institutional investors own 53.59% of the company's stock.
Radiant Logistics Trading Up 1.1 %
Shares of RLGT stock traded up $0.08 during trading on Thursday, hitting $7.17. The company had a trading volume of 70,588 shares, compared to its average volume of 108,607. The stock has a market cap of $336.42 million, a price-to-earnings ratio of 41.71 and a beta of 0.86. Radiant Logistics, Inc. has a 52 week low of $4.83 and a 52 week high of $7.78.
Radiant Logistics (NYSEAMERICAN:RLGT - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.16 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. Radiant Logistics had a net margin of 1.06% and a return on equity of 11.48%. The business had revenue of $203.57 million for the quarter.
Analysts Set New Price Targets
Separately, StockNews.com raised shares of Radiant Logistics from a "hold" rating to a "buy" rating in a report on Friday, August 30th.
Get Our Latest Stock Report on RLGT
Insider Activity
In related news, insider Arnold Goldstein sold 10,584 shares of the firm's stock in a transaction on Monday, September 30th. The stock was sold at an average price of $6.41, for a total value of $67,843.44. Following the completion of the sale, the insider now owns 12,277 shares of the company's stock, valued at $78,695.57. This trade represents a 46.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 24.60% of the company's stock.
About Radiant Logistics
(
Free Report)
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.
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