Bank of America Corp DE lowered its position in shares of Radiant Logistics Inc (NYSEAMERICAN:RLGT) by 29.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 129,682 shares of the company’s stock after selling 55,055 shares during the period. Bank of America Corp DE owned 0.26% of Radiant Logistics worth $796,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in RLGT. Metropolitan Life Insurance Co NY acquired a new stake in shares of Radiant Logistics in the 1st quarter valued at $85,000. WINTON GROUP Ltd acquired a new stake in shares of Radiant Logistics in the 2nd quarter valued at $130,000. Scout Investments Inc. boosted its holdings in shares of Radiant Logistics by 65.4% in the 2nd quarter. Scout Investments Inc. now owns 553,288 shares of the company’s stock valued at $3,397,000 after purchasing an additional 218,705 shares in the last quarter. Campbell & CO Investment Adviser LLC boosted its holdings in shares of Radiant Logistics by 9.3% in the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 37,919 shares of the company’s stock valued at $233,000 after purchasing an additional 3,228 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. acquired a new stake in shares of Radiant Logistics in the 2nd quarter valued at $452,000. Institutional investors own 39.47% of the company’s stock.
A number of equities research analysts have weighed in on RLGT shares. Cowen set a $7.00 target price on Radiant Logistics and gave the company a “buy” rating in a report on Friday, September 13th. Zacks Investment Research upgraded Radiant Logistics from a “hold” rating to a “strong-buy” rating and set a $6.50 price target for the company in a research note on Tuesday, September 17th.
Shares of RLGT opened at $5.60 on Tuesday. Radiant Logistics Inc has a 52 week low of $4.06 and a 52 week high of $7.33.
Radiant Logistics (NYSEAMERICAN:RLGT) last announced its quarterly earnings results on Thursday, September 12th. The company reported $0.15 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.03. The firm had revenue of $204.65 million during the quarter, compared to the consensus estimate of $220.47 million.
About Radiant Logistics
Radiant Logistics, Inc operates as a third-party logistics and multi-modal transportation services company primarily in the United States and Canada. The company offers domestic and international air and ocean freight forwarding services; and freight brokerage services, including truckload, less than truckload, and intermodal services.
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