Radiant Logistics, Inc. $RLGT Shares Sold by CM Management LLC

CM Management LLC trimmed its holdings in Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) by 13.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 650,000 shares of the company’s stock after selling 100,000 shares during the quarter. Radiant Logistics makes up 3.5% of CM Management LLC’s holdings, making the stock its 6th biggest holding. CM Management LLC’s holdings in Radiant Logistics were worth $4,114,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. BNP Paribas Financial Markets raised its position in shares of Radiant Logistics by 45.4% in the third 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 last quarter. Boothbay Fund Management LLC grew its holdings in shares of Radiant Logistics by 33.3% in the second quarter. Boothbay Fund Management LLC now owns 14,306 shares of the company’s stock valued at $87,000 after purchasing an additional 3,572 shares during the period. Algert Global LLC purchased a new stake in shares of Radiant Logistics in the third quarter valued at about $89,000. NewEdge Advisors LLC purchased a new stake in shares of Radiant Logistics in the first quarter valued at about $89,000. Finally, Walleye Capital LLC purchased a new stake in shares of Radiant Logistics in the second quarter valued at about $104,000. 53.59% of the stock is currently owned by institutional investors and hedge funds.

Radiant Logistics Trading Down 0.7%

Shares of RLGT opened at $8.35 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.13. Radiant Logistics, Inc. has a 12-month low of $5.78 and a 12-month high of $8.67. The firm has a 50-day moving average price of $7.49 and a 200 day moving average price of $6.85. The firm has a market capitalization of $391.03 million, a P/E ratio of 28.79 and a beta of 0.82.

Radiant Logistics (NYSEAMERICAN:RLGT) last announced its quarterly earnings data on Monday, February 9th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.08. Radiant Logistics had a net margin of 1.57% and a return on equity of 11.05%. The firm had revenue of $232.13 million during the quarter, compared to analyst estimates of $242.08 million.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on RLGT shares. Lake Street Capital reissued a “buy” rating and issued a $9.00 price objective on shares of Radiant Logistics in a report on Wednesday, February 11th. TD Cowen reissued a “buy” rating on shares of Radiant Logistics in a report on Tuesday, February 10th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $9.00.

Insiders Place Their Bets

In other Radiant Logistics news, CFO Todd Macomber sold 7,500 shares of the stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $7.00, for a total transaction of $52,500.00. Following the completion of the transaction, 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 filing with the SEC, which is available through the SEC website. 24.30% of the stock is currently 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.